§ 2-161. Surplus property

(a) Surplus property valued at $5,000.00 or less. The town clerk is hereby authorized, pursuant to G.S. section 160A-266(c), to dispose of any surplus personal property owned by the town whenever the town clerk determines that:

(1) The item or group of items has a fair market value of less than five thousand dollars ($5,000.00);

(2) The property is no longer necessary for the conduct of public business; and

(3) Sound property management principles and financial considerations indicate that the interest of the town would best be served by disposing of the property.

(b) Surplus personal property valued at more than $5,000.00. The town council shall authorize, pursuant to G.S. section 160A-266(c), the disposal of any surplus personal property owned by the town whenever it is determined that:

(1) The item or group of items has a fair market value of five thousand dollars ($5,000.00) or more;

(2) The property is no longer necessary for the conduct of public business; and

(3) Sound property management principles and financial considerations indicate that the interest of the town would best be served by disposing of the property.

(Ord. of 7-16-85, § 1; Ord. of 8-17-10)

refstatelaw

Method of sale of personal property authorized, G.S. § 160A-266(c).