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R1959竿ニニニママテ*テ燃 E S O L U T I O N NO. 1959父 チチ WHEREAS, The Metropolitan St. Louis Sewer District (the "District") is empowered by Plan Section 3.020(6) to sell and convey any real property no longer necessary or useful in its operations, and WHEREAS, the public interest will be served by the exercise of this power from time to time, and WHEREAS, heretofore the provisions of Resolution No. 1893, adopted May 10, 1989 governed the declaration and disposition of surplus property; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT THAT RESOLUTION NO. 1893 IS HEREBY REPEALED AND THE FOLLOWING PROCEDURE IS HEREBY PRESCRIBED FOR THE SALE OF REAL PROPERTY OWNED BY THE DISTRICT: 1. The Board of Trustees shall, considering the recommendation of the Executive Director, determine whether any real property or any ownership interest in any real property is still necessary or useful in the District's present or future operations. Upon the Board's determination that a property is no longer necessary or useful in the District's present or future operations, it shall be declared to be "surplus real property." The Executive Director then may direct that it be sold in accordance with this Resolution or as otherwise directed by the Board of Trustees. 2. Before surplus real property is sold, one or more written appraisal(s) of its fair market value, as hereinafter prescribed, shall be obtained from an independent, disinterestedワjワ real estate appraiser(s) who, when required, is licensed and/or certified by the State of Missouri. An appraisal or appraisals shall be obtained as follows: a.フ フA letter appraisal shall be obtained for property which has an estimated value of less than $10,000.゙J ゙ b.フ フOne appraisal shall be obtained for property with an estimated value of $10,000 to $50,000. ゙J ゙ c.フ フTwo appraisals shall be obtained for property with an estimated value of over $50,000.゙J ゙ In the event that the average of the two appraisals exceeds the lower appraisal by 20% or more of the lower appraised value, then a third appraisal will be obtained to reconcile the difference. The higher two of the three appraisals shall then be averaged to obtain a "calculated" appraised value. 3. Surplus real property shall be sold to the highest bidder by open and public competition, either at public auction or through the solicitation of sealed bids. In either case, the District shall cause notice of the proposed sale to be published at least two times in a newspaper of general circulation within the District, the final publication to be made at least ten days but not more than 30 days prior to the date of public auction or opening of the bids. In addition, the District may also cause the same notice to be mailed or delivered to persons believed by the District to be interested in purchasing the property. The District reserves the right to reject all bids. ワ`ワ・ Notwithstanding the foregoing, surplus real property may, however, be sold by negotiation rather than by open and public competition, in any case in which: (i)フ フthe purchaser is a public or governmental agency having the power of eminent domain, or゙J ゙ (ii)フ フthe value of the property, as determined by the Executive Director, is insufficient to meet the administrative costs of disposal, or゙J ゙ (iii)フ フno acceptable bids were received when the property was offered through open and public competition, and based on the recommendation of the Executive Director, the Board of Trustees has determined that such sale is in the best interest of the District.゙J ゙ No surplus real property shall be sold at a value less its appraised value (when one appraisal is obtained) or less than the lower appraised value (when two appraisals are obtained) or the "calculated" appraised value (when three appraisals are obtained) unless through open and public competition all bids received were less than the aforesaid required appraised value or no bids were received. In which case, the District may enter into negotiations for the best and most reasonable price obtainable. The District may use the services of a licensed and qualified real estate broker and may pay a brokers commission in securing a purchaser for said property. ワdワ・ 4. Dispositions of surplus real property shall be authorized by an ordinance duly adopted by the Board of Trustees. The foregoing Resolution was adopted December 12, 1990.