§ 2-206. Lease of city-owned real property authorized; categories.

(a)

It is hereby determined that certain categories of real properties owned by the city should be leased to the extent practical and in a manner not inconsistent with public purposes. The categories of real properties to which such determination applies are as follows:

(1)

Category 1. All properties acquired by the city as part of the Phase II (and Phase I property so long as the city maintains the option to terminate for any development need) development of the Lee Creek water reservoir.

(2)

Category 2. All properties lying outside the three hundred-foot maintenance area required by the state department of health at Lake Fort Smith and Lake Shepherd Springs.

(b)

There is hereby delegated to the city administrator, or his designated agent, the authority to enter into lease contracts of city-owned real property falling within one (1) or more of the captioned categories, provided that no such lease may exceed or otherwise be violative of the following criteria:

(1)

The consideration paid by the lessee is of a value not greater than ten thousand dollars ($10,000.00).

(2)

The primary term of the lease (not including any renewals or extensions under an option to renew controlled by the city) does not exceed five (5) years.

(3)

The lease requires no financial obligation on behalf of the city.

(4)

The lease requires no additional administrative personnel for supervision.

(5)

The real property which is the subject of the lease is not immediately needed by the city for any public purpose which would be adversely affected or limited by the lease.

(6)

A lease from which no monetary consideration is paid to the city may be entered into if the lease benefits the city by providing caretaking, maintenance, improvement or other benefit to the property as consideration for the lease.

(Code 1976, § 2-162; Ord. No. 59-17, §§ 1, 2, 10-17-17)