[HISTORY: Adopted by the Board of Trustees of the Village of Cedarhurst 12-4-2000 by L.L. No. 11-2000. Amendments noted where applicable.]
The Board of Trustees is hereby empowered to authorize, by resolution, the sale or lease of any real property or lesser interest therein which is vested in the village and not required for public purposes for a suitable or other valuable consideration as hereinafter set forth.
Conveyances may be authorized by public or private sale in accordance with the following procedures:
A resolution proposing the public sale or other conveyance by sealed bid or auction shall be authorized by a majority vote of the Board of Trustees.
A proposed conveyance by private sale or other conveyance shall be authorized by a majority vote of the Board of Trustees after submission to the Board of Trustees of a report on the proposed conveyance by one or more members of the Board of Trustees, appointed by the Mayor as a committee for that purpose, and shall not be made for less than the fair market value of the property or interest conveyed as specifically determined by a further resolution of the Board of Trustees authorizing the conveyance.
Payment for the conveyance of any real property or interest therein shall be made by certified check or bank check to the order of the village. The village may accept a purchase money mortgage and note securing all or part of the purchase price of real property or interest therein in accordance with terms and conditions authorized in a resolution approved by majority vote of the Board of Trustees.
In the event that the purchase price is secured by a purchase money mortgage and note, the purchaser shall pay to the village, in advance of or contemporaneously with the delivery of the instrument of conveyance, all charges incurred for the completion thereof, including but not limited to according fees and mortgage recording taxes.
In the resolution authorizing the conveyance of real property or interest therein, the Board of Trustees, in its discretion, may require the purchaser to pay any or all of its expenses incurred, including but not limited to charges for the publication of all notices, surveys, stenographic reporters' and attorney's fees.