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R1960ÁÁÃ*ÔR E S O L U T I O N NO. 1960•ƒ WHEREAS, The Metropolitan St. Louis Sewer District (the "District") is empowered by Plan Section 3.020(12) to enter into contracts, and WHEREAS, the public interest is served when the District leases real property which is not presently necessary to its operation, and WHEREAS, heretofore the provisions of Resolution No. 1893, adopted May 10, 1989 governed the lease of real estate, and WHEREAS, Resolution No. 1893 has been repealed by Resolution No. 1959 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT THAT THE FOLLOWING PROCEDURE IS HEREBY PRESCRIBED FOR THE LEASE OF REAL PROPERTY OWNED BY THE DISTRICT: 1. When the Executive Director determines that real property is not presently necessary to the District's operation, an appraisal of its fair market lease value will be obtained from an independent, disinterested real estate appraiser who is a member of the American Institute of Real Estate Appraiser(s) who, when required, is licensed and/or certified by the State of Missouri. 2. The property shall be leased for any legal and legitimate purpose which is compatible with the District's contemplated future use of the property, upon such terms and conditions as are prescribed by the District. ÜhÜŒ 3. The District shall advertise the property for lease in a newspaper of general circulation within the District; said advertisement may be published periodically (but not less than two times) until such time as a lessee for the property is obtained. The District may also cause the same notice to be mailed or delivered to anyone the District believes is interested in leasing the property. 4. In the event a lease of the property is not obtained within a reasonable period of time (as determined by the Executive Director) the District may employ the services of a licensed and qualified real estate broker to obtain a lease and may pay said broker for the usual and customary brokerage fee. 5. The District reserves the right to cancel all leases, upon proper notification to the lessee, at any time that the property becomes necessary to the operation of the District. 6. If the District is unable to lease the property for its appraised leased value then the District may negotiate with interested parties to lease the property at a lesser amount. 7. All leases of real property by the District shall be authorized by an ordinance duly adopted by the Board of Trustees. The foregoing Resolution was adopted December 12, 1990.