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<br />By-law # 26-2009 <br />Page 2 <br /> <br />1.1. 9 "Person" includes a municipality, an individual and a corporation and the <br />successors, assigns, heirs, estate trustees, or any other legal representatives <br />of a person to whom the context may apply according to law. <br /> <br />1.1.10 "Purchase" means any transaction whereby an interest in Real Property is <br />transferred to the County with or without consideration. <br /> <br />1.1.11 "Real Property" means any interest in lands held or owned by the County, <br />whether such lands are vacant or not, and without limiting the generality <br />of the foregoing, includes easements, rights-of-ways, leaseholds of 21 <br />years or more, excluding life leases. <br /> <br />1.1.12 "Sale", "Sell", "Selling" and "Sold" means any transaction whereby an <br />interest in Real Property is transferred or disposed of with or without <br />consideration. <br /> <br />1.1.13 "Value" and "Valuation" means the fair market value of the Real Property <br />as determined in accordance with section 2.2. <br /> <br />SECTION 2 - SALE OF REAL PROPERTY PROCEDURES <br /> <br />~1 SALE PROCEDURES <br /> <br />Unless an exemption is provided in this by-law, before selling any Real Property, <br />County Council shall: <br /> <br />2.1.1 declare the Real Property to be surplus by by-law or resolution passed at a <br />Meeting open to the public; <br /> <br />2.1.2 Value the Real Property in accordance with section 2.2; and <br /> <br />2.1.3 give notice to the public in accordance with section 2.3. <br /> <br />2.2 VALUE OR VALUATION <br /> <br />Where the Value of Real Property is to be determined, the Valuation shall be by a <br />method determined to be satisfactory by the County staff authorized to negotiate <br />the Sale, including but not limited to: <br /> <br />2.2.1 an appraisal or an opinion by an independent qualified appraiser, or <br /> <br />2.2.2 the Value assigned by the Municipal Property Assessment Corporation, or <br /> <br />2.2.3 an opinion of Value by a licensed real estate agent, or <br /> <br />2.2.4 the amount set out in an offer to Purchase presented by willing purchasers, <br />or <br />