As used in this chapter, the following terms shall have the meanings indicated:
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:
The item or its function has been totally replaced by other City property and no probable future function exists for it; or
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
The item is no longer able to reliably or economically perform the work required of it.
"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.