GENERAL ASSEMBLY OF NORTH CAROLINA
1989 SESSION

CHAPTER 45
SENATE BILL 201

AN ACT TO PERMIT THE SALE OF PROPERTY BY THE CITY OF SANFORD PURSUANT TO THE NEGOTIATED OFFER AND UPSET BID PROCEDURE SUBJECT TO SPECIFIED RESTRICTIONS ON THE USE OF THE PROPERTY SOLD.

Whereas, the City of Sanford owns an approximately 20-acre parcel of property that is declared to be surplusage and no longer necessary for the performance of any governmental or proprietary function of the City; and
Whereas, the City deems it to be in the public interest to sell the property and wants to ensure that the property is used for purposes acceptable to the City; and
Whereas, the City desires to negotiate with a potential purchaser of the property certain terms and conditions of sale and restrictions on development of the property that are satisfactory to the City; and
Whereas, the City desires that the ultimate purchaser of the property be bound to abide by those terms, conditions and restrictions; Now, therefore,

The General Assembly of North Carolina enacts:

Section 1.  Notwithstanding any other provisions of law, the City of Sanford is authorized to sell property pursuant to the negotiated offer and upset bid procedure set forth in G.S. 160A-269 subject to specified restrictions on the development of the property, which restrictions shall be included as part of the negotiated offer and shall be binding upon the ultimate purchaser of the property, whether the original offeror or an upset bidder.
Sec. 2.  This act is effective upon ratification.

In the General Assembly read three times and ratified this the 6th day of April, 1989.