§ 2-160. Sale or exchange of municipal property.

The mayor, the city clerk and the department head may sell or exchange any municipal supplies, materials or equipment without competitive bidding if such supplies, materials or equipment have a value of less than ten thousand dollars ($10,000.00). No supplies, materials or equipment shall be sold without receiving competitive bids therefor if the value thereof exceeds the sum of ten thousand dollars ($10,000.00); provided, however, if the mayor shall certify in writing to the city council, in his opinion, the fair market value of such item or cost to be disposed of (in one (1) unit) is less than ten thousand dollars ($10,000.00), the unit may be sold by the mayor without competitive bidding.

(Code 1967, § 2-82; Ord. No. 5700, § 4, 8-4-97)

State law reference

Authority to so provide, A.C.A. § 14-58-306.