§ 32-7-104. PURCHASE AND RESALE OF PROPERTY.

(a)

Scope. The provisions of this section are subject to the budgetary provisions of the Charter, code provisions, and executive orders as may be in effect at the time.

(b)

Properties maintained by commission funds. All properties acquired shall be deeded to the county and shall be maintained and kept in good repair solely and entirely from Commission funds.

(c)

Resale.

(1)

The resale of historical properties to the extent permitted by law shall be on cash basis terms, and the cash proceeds from the sale may be retained by the county in a trust account for the Commission's use in the acquisition and restoration of additional properties.

(2)

Sums received from the resale of properties, to the extent permitted by law, may be retained by the Commission for the acquisition and restoration of additional properties.

(1988 Code, § 26-556) (Bill No. 112-02, § 2, 7-1-2004)