As used in this article, the following terms shall have the meanings indicated:
That property which is owned by the Village of New Glarus and which has no further usefulness to the Village.
An item of property shall be considered to have no further usefulness when:
The item or its function has been totally replaced by other Village property and no probable future function exists for it;
The Village 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 perform reliably or economically the work required of it.
Surplus property as defined in this article 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 Village property" shall not include property which is obtained by the Village as a result of abandonment or loss by the property's original owner. "Surplus Village property" shall not include items of property which are traded in for newer items.