§ 2-2. Exchange of real property.

(a)

Generally.

(1)

The town council shall have the authority to exchange any real property owned by the town when the council determines that such property is not needed for any municipal purposes, and such property may be, to the best interest of the town, exchanged for other real property which the town may desire to acquire for municipal purposes.

(2)

Before any exchange of real property shall be effected, a notice, setting forth the terms and conditions of any such exchange of property, properly describing the subject parcel, and scheduling a public hearing on the proposed exchange, shall be first published, once a week for the first two consecutive weeks, in a newspaper of general circulation where the property is located. The public hearing may not be held any sooner that 15 days after the first publication. The last publication shall be at least five days before the public hearing is conducted.

(3)

The town council shall adopt a resolution authorizing the exchange of properties if such action is approved.

(b)

Administrative procedures. The town council shall have the authority to establish any administrative procedures necessary to carry out the intent of this section.

(c)

Payment of expenses. Unless the proposed exchange of property is initiated by the town, all such cost necessarily involved in the exchange procedure shall be paid by the individual or entity petitioning the town council for such exchange.

(Code 1990, § 2-4)