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7.13. - Page 6 Attachment A when the purchase price to be paid by the city equals or exceeds the sum of two thousand dollars ($2,000), unless such acquisition is to be accomplished pursuant to the general laws of the State by condemnation in eminent domain proceedings to the extent the Board has such authority, or unless such acquisition is necessary in connection with public improvement proceedings accomplished pursuant to law. Any sale or lease of city -owned property under the jurisdiction of the Port Commissioners, except leases of property under the jurisdiction of the Board of Port Commissioners shall be accomplished in accordance with the following procedure: (a) Public notice of any proposed sale of property shall be given at least once a week for two weeks in the official newspaper. Such notice shall contain a statement that any and all bids may be rejected and the property may be readvertised. If the property is to be leased the notice shall state the terms and conditions of such lease. (b) Prior to the sale of any real property, the City Assessor shall appraise the same and determine the current market value thereof. With the approval of the Board of Port Commissioners, the City Assessor may obtain the services of other qualified persons to assist in such appraisal. (c) Every sale of city property under the jurisdiction of the Board of Port Commissioners may be made only to the highest responsible bidder at public auction or upon sealed bids to said Board of Port Commissioners. Every lease of city property under the jurisdiction of the Board of Port Commissioners shall be made in accordance with the provisions of Section 48(a) of this Charter. In all instances where bids are received any and all bids may be rejected and the property re- advertised or removed from the market. No sale of any city property shall be made for less than ninety percent (90 %) of the appraised value thereof. d) Any city real property having an appraised value of two hundred fifty dollars ($250) or less may be sold without public notice or public bid as required by this section; provided, however, that no such property shall be sold for less than ninety percent (90 %) of the appraised value thereof. Any city personal property having an appraised value of five thousand dollars ($5,000) or less may be sold without public notice or public bid as required by this section; and, further, such property may be sold for any reasonable amount irrespective of its appraised value. (e) Any sale of real property under the jurisdiction of the Board of Port Commissioners having an appraised value of less than seventy -five thousand dollars ($75,000) shall be authorized only by resolution adopted by the affirmative vote of at least four -fifths (4 /5ths) of all members of the Board. Any such sale of real property having an appraised value in excess of seventy -five thousand dollars ($75,000) shall be authorized only by ordinance of the Board of Port Commissioners adopted by the affirmative vote of at least four - fifths (4 /5ths) of all members of the Board. Any ordinance required hereunder shall be subject to the referendum provisions of this Charter (f) No city property shall be exchanged for other property until an appraisal of all property included in the exchange has been made by the City Assessor and the value of the property to be received by the city equals or exceeds the value of the property to be disposed of by the City. (As amended April 8, 1958, ratified by Legislature April 19, C: \PROGRAM FILES \NEEVIA.COM \DOCUMENT CONVERTER \TEMP \8225.DOCX 061711 2