80-112. Disposition of certain real property by certain townships; notice and sale; use of proceeds. Any township owning real property which is located in a city of the first, second or third class, is hereby authorized without a vote of the people, to dispose of such property, or any township located in a county having a population of less than two thousand five hundred (2,500) and an assessed tangible valuation of less than eleven million dollars ($11,000,000) and owning a township hall which was converted from a schoolhouse to such purposes, is hereby authorized without a vote of the people to dispose of such township hall and the site on which it is located if owned by said township, at public sale, upon thirty (30) days' notice in the official county paper, for cash, at the best price obtainable therefor, and to use the proceeds of such sale for the construction or repair of other township property in such township, or if not used for such purpose within one (1) year from the date of such sale, then such money arising from such sale shall become a part of the general fund of the township: Provided, That if the real property was purchased, or improvements purchased or constructed, by using moneys from some fund other than the general fund of the township, then the proceeds of the sale shall be used for the purchase of real property or for the construction or repair of similar facilities, or if not used for such purpose within one (1) year, then the money arising from such sale shall become a part of the particular township fund from which moneys were originally expended for such real property or improvements.

History: L. 1927, ch. 339, § 1; L. 1929, ch. 297, § 1; L. 1957, ch. 520, § 1; L. 1961, ch. 462, § 1; June 30.