§ 2-403. Property exchange procedures with other counties or municipalities.

(a)

The quorum court hereby approves and the county judge is hereby authorized to exchange or transfer personal property with other Arkansas counties or municipalities if the value of each separate item of county personal property does not exceed a value of $5,000.00, said value to be determined by the county assessor, and the personal property or cash received by county is at least 75 percent of the value of the county personal property. If personal property other than cash is tendered in exchange by the other county or municipality, then that other property must also be appraised by the county assessor in order to comply with the requirements of this article.

(b)

The proposed exchange or transfer of any item of personal property valued greater than $5,000.00 and any exchange or transfer of real property regardless of appraised value with any county, municipality, community college or institution of higher education within the state must be approved by the quorum court in an appropriate ordinance therefore pursuant to the requirements of A.C.A. § 14-16-116.

(c)

This section shall only apply to implement the provisions of A.C.A. § 14-16-116 and shall have no effect with respect to the authority of the county judge under Amendment 55 of the Arkansas Constitution.

(d)

In this section, the term "personal property" means every tangible thing being the subject of ownership, whether animate or inanimate, and not forming a part of any parcel of real property. For the purpose of this section only, the term "personal property" shall also mean money. The term "money" means the medium of exchange authorized by the United States Government and includes cash or a check of another Arkansas county, municipality, community college or institution of higher education.

(e)

The county judge will notify the quorum court either in writing within ten days of any exchange or transfer of property, or in the report of the county judge at the quorum court meeting that follows the exchange or transfer of property, whichever is earlier.

(Code 1993, § 2-368; Ord. No. 05-21, arts. 1—5, 7-28-2005; Ord. No. O-2015-27, arts. 1—5, 6-25-2015)