ARTICLE 11
PERSONAL PROPERTY
DISPOSITION OF PERSONAL PROPERTY
REGULATIONS ADOPTED TO N.C.G.S. 160A-266 (C ) TO DISPOSE OF PERSONAL PROPERTY
Section 1. Procedures
The procedures set forth herein are simplified procedures for disposal by the Town of Holly Ridge of personal
property valued at less than $500.00. The said procedures are designed to secure for the Town of Holly Ridge the
fair market value of all property disposed of and to accomplish the disposal efficiently and economically. In adopting
these regulations, the Town of Holly Ridge has recognized that the cost of disposing of person property valued at
less than $500.00 for any one time or group of items is so expensive as to prohibit the efficient and proper
effectuation of the Town needs.
Section 2. Property Declared to be Surplus
The Town Council or Town Manager may declare surplus any personal property valued at less than $500.00 for
any one item or group of items. In doing so, the Town Council shall set its fair market value and may provide for the
disposal thereof as set forth elsewhere herein.
Section 3. Individual Official’s Powers
No individual Town Council member may authorize the disposal of any property owned by the Town of Holly
Ridge.
Section 4. Sale or Exchange
The Town Council or Manager shall have the authority to provide for and authorize the private sale or exchange
of property subject to these regulations. No publications shall be required and no other notice shall be required of
any such private exchange or sale. However, the Council shall request that any such private exchange or sale be
proposed and that a written memorandum thereof be made by the party other than the Town of Holly Ridge, but
when impractical as determined by the Town Council, the Town Council may direct its manager to set forth the
circumstances of the private exchange or sale and make same a part of the record of the Town Council of Holly
Ridge.
Section 5. Applicable Statues
The open meetings law of the State of North Carolina, as well as any other applicable statues, shall remain in
effect. Consideration of the disposal of surplus property may be made in executive session, according to the open
meetings law, but any action pertaining thereto shall be made in open session.
Section 6. Adoption by the Town Council
These regulations are adopted by the Town Council of Holly Ridge at a regular meeting of the said Council.
Section 7. Effective Date
The regulations set forth herein shall be effective on the date adopted.
(original adopted in August, 1983 and on file.)