3-144m.   Same; resolution, publication; petition for election; notice,conduct of election.The governing body of any such city may by resolution declare it is inthe best interests of the city to sell such property and order it sold,subject to any outstanding leases thereon. Such resolution shall state themanner in which the property will be sold. The city clerk shall cause suchresolution to be published once each week for three (3) consecutive weeksin the official city newspaper before such property is sold, and if tenpercent (10%) of the qualified voters of such city, based upon the totalvote cast for the secretary of state at the last general election, on orbefore thirty (30) days from the first publication, shall petition thegoverning body to submit to the voters of the city for their approval orrejection the question of the sale of such property and the method thereof,such sale will be delayed pending such election.

      When such petition is filed with the city clerk, the clerk shall cause anotice of such election to be published in the official city paper at leastfifteen (15) days before such election, and such election shall beconducted in all respects as now provided for bond elections in suchcities. In the event a majority of the votes cast favor the resolution ofsale the governing body shall continue with and complete the sale of saidproperty; but if a majority of the votes cast are against the resolution ofsale it shall not be made.

      History:   L. 1965, ch. 142, § 2; April 20.