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The board may dispose of real property not needed for utility purposes in accordance with state law. In the event the board or its designee determines that real property is not needed for utility purposes, it shall afford the city the opportunity to obtain the property for other municipal purposes by notifying the city manager of its availability. If the city desires to obtain the property, the city manager shall request negotiation within thirty (30) days of the notification. As soon as possible after notification, the city manager and the board’s general manager shall negotiate an agreement to compensate the board for the property transferred in accordance with agreed criteria. Any agreed transfer to the city and compensation to the board shall be completed within five (5) years from the date of notification. The board may dispose of the property by such means and terms as it deems appropriate if the city manager fails to request negotiations within thirty (30) days of notification of availability or if the property transfer is not completed within five (5) years of that notification

(Section 2.196 added by Ordinance No. 19465, enacted April 22, 1987.)