As used in this chapter, the following terms shall have the
meanings indicated:
SURPLUS CITY PROPERTY
A.
Is that property which is owned by the City of Princeton and
which has no further usefulness to the City. An item of property shall
be considered to have no further usefulness when:
(1)
The item or its function has been totally replaced by other
City property and no probable future function exists for it; or
(2)
The City no longer performs the service for which the item was
purchased and no other service can reasonably be provided by the item;
or
(3)
The item is no longer able to reliably or economically perform
the work required of it.
B.
"Surplus property" as defined in this chapter shall not include
land or buildings but shall include fixtures and such salvage as may
be taken from a building without structural damage when such fixtures
and salvage are not part of a demolition contract. "Surplus City property"
shall not include property which is obtained by the City as a result
of abandonment or loss by the property's original owner. "Surplus
City property" shall not include items of property which are traded
in for newer items. "Surplus City property" shall not include library
materials used by the public library for lending purposes.
Each department will file with the City Administrator/Clerk-Treasurer
on an annual basis a preprinted form stating what property is currently
held by each department and that property which is ready for disposal.
Whenever this chapter requires a determination of the fair market
value of an item of property, that determination shall be made by
the department head responsible for the property, whose decision shall
be final.