Disposal of property

Disposal of property: The property belonging to a Municipality may be disposed of in the manner provided in this section, namely-

1. (a) the Executive Council may sell or grant lease of, or otherwise dispose of, by public auction, any movable property belonging to the Municipality;
2. (b) the Board of Councillors may, with the prior approval of the State Government, may, for valuable consideration, let out on hire, grant lease of, or sell or otherwise transfer, any immovable property belonging to the Municipality but not required for carrying out the purposes of this Act: Provided that the State Government may by rules prescribe the mode of such sale and specify the value which, if it increases by way of consideration, shall require the prior approval of the State Government in this behalf;
3. (c) the Municipality shall not transfer any immovable property vested in it by virtue of this Act, but shall cause the same to be maintained, controlled and regulated in accordance with the provisions of this Act and the rules and the regulations made thereunder: Provided that the State Government may authorise, in the public interest, the disposal of such immovable property by the Municipality if the Board of Councillors so requires for reasons to be recorded in writing.