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auction or for all auctions under this subsection shall be approved by the governing board of the political
<br />subdivision. Except as provided in this subsection, all requirements of subsections (a) and (b) of this
<br />section apply to electronic auctions. (1971, c. 698, s. 1; 1973, c. 426, s. 43; 2001 -328, s. 5; 2005 -227, s. 4;
<br />2006 -264, s. 74.)
<br />§ 160A -271. Exchange of property.
<br />A city may exchange any real or personal property belonging to the city for other real or personal
<br />property by private negotiation if the city receives a full and fair consideration in exchange for its
<br />property. A city may also exchange facilities of a city -owned enterprise for like facilities located within or
<br />outside the corporate limits. Property shall be exchanged only pursuant to a resolution authorizing the
<br />exchange adopted at a regular meeting of the council upon 10 days' public notice. Notice shall be given
<br />by publication describing the properties to be exchanged, stating the value of the properties and other
<br />Consideration changing hands, and announcing the council's intent to authorize the exchange at its next
<br />regular meeting. (1971, c. 698, s. 1; 1973, c. 426, s. 42.1.)
<br />§ 16OA -272. Lease or rental of property.
<br />(a) Any property owned by a city may be leased or rented for such terms and upon such conditions
<br />as the council may determine, but not for longer than 10 years (except as otherwise provided herein)
<br />and only if the council determines that the property will not be needed by the city for the term of the
<br />lease. In determining the term of a proposed lease, periods that may be added to the original term by
<br />options to renew or extend shall be included. Property may be rented or leased only pursuant to a
<br />resolution of the council authorizing the execution of the lease or rental agreement adopted at a regular
<br />council meeting upon 10 days' public notice. Notice shall be given by publication describing the property
<br />to be leased or rented, stating the annual rental or lease payments, and announcing the council's intent
<br />to authorize the lease or rental at its next regular meeting.
<br />(b) No public notice need be given for resolutions authorizing leases or rentals for terms of one year
<br />or less, and the council may delegate to the city manager or some other city administrative officer
<br />authority to lease or rent city property for terms of one year or less. Leases for terms of more than 10
<br />years shall be treated as a sale of property and may be executed by following any of the procedures
<br />authorized for sale of real property.
<br />(c) (Effective until June 30, 2015) The council may approve a lease for the siting and operation of a
<br />renewable energy facility, as that term is defined in G.S. 62- 133.8(a)(7), for a term up to 20 years
<br />without treating the lease as a sale of property and without giving notice by publication of the intended
<br />lease. This subsection applies to Catawba, Mecklenburg, and Waite Counties, the Cities of Asheville,
<br />Raleigh, and Winston - Salem, and the Towns of Apex, Carrboro, Cary, Chapel Mill, Fuquay- Varina, Garner,
<br />Holly Springs, Knightdale, Morrisville, Rolesville, Wake Forest, Wendell, and Zebulon only.
<br />(c) (Effective June 30, 2015) The council may approve a lease for the siting and operation of a
<br />renewable energy facility, as that term is defined in G.S, 62- 133.8(a)(7), for a term up to 20 years
<br />without treating the lease as a sale of property and without giving notice by publication of the intended
<br />lease. This subsection applies to Catawba, Mecklenburg, and Wake Counties, the Cities of Raleigh and
<br />Winston - Salem, and the Towns of Apex, Cary, Fuquay- Varina, Garner, Holly Springs, Knightdale,
<br />Morrisville, Rolesville, Wake Forest, Wendell, and Zebulon only. (1971, c. 698, s. 1; 1979, 2nd Sess., c.
<br />1247, s. 26; 2009 -149, ss. 2, 3; 2010 -57, s. 2; 2010 -63, s. 2(b); 2011 -150, s. 1.)
<br />160A- 272.2. Lease of utility or enterprise property.
<br />Subject to G.S. 16OA -321, a city -owned utility or public service enterprise, or part thereof, may be
<br />leased. (1979, 2nd Sess., c. 1247, s. 27.)
<br />§ 160A -273. Grant of easements.
<br />A city shall have authority to grant easements over, through, under, or across any city property or
<br />the right -of -way of any public street or alley that is not a part of the State highway system. Easements in
<br />a street or alley right -of -way shall not be granted if the easement would substantially impair or hinder
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