An ordinance amending Chapter 5.04 of the Metropolitan Code to restrict the use of proceeds from the sale of real property owned by the Metropolitan Government of Nashville.
WHEREAS, section 2.01(5) of the Metropolitan Charter authorizes the Metropolitan Government to purchase, lease, construct, maintain or otherwise acquire, hold and operate any building or other property, real or personal, for any public purpose, and to sell, lease or otherwise dispose of any property, real or personal, belonging to the metropolitan government; and
WHEREAS, section 2.24.250.C of the Metropolitan Code of Laws provides that proceeds from the sale of surplus real property shall be deposited in the general fund of the district from whose operating budget the last department, commission, board or agency using the real property is financed; and
WHEREAS, the Metropolitan Code of Laws does not otherwise restrict the use of proceeds from the sale of Metropolitan-owned real property; and
WHEREAS, the use of proceeds from sales of real property owned by the Metropolitan Government for recurring costs and expenses does not generally constitute sound fiscal policy; and
WHEREAS, the Metropolitan Charter, Sec 2.01(40) authorizes the Metropolitan Government to pass all ordinances necessary for the health, convenience, safety and general welfare of the inhabitants, and to carry out the full intent and meaning of this Charter, as fully as if specifically authorized.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That Title 5 of the Metropolitan Code of Laws shall be amended by inserting into Chapter 5.04 a new subsection 5.04.140 as follows:
Section 5.04.140 – Prohibition on use of real property proceeds
- Proceeds from the sale of real property owned by the metropolitan government shall not be used for recurring costs of the metropolitan government.
- Proceeds from the sale of real property owned by the metropolitan government shall not be relied upon as a funding source for recurring operating expenses in any proposed operating budget.
- Any proceeds from the sale of real property owned by the metropolitan government shall be used exclusively for the payment of debt services or the purchase other real property.
- This section is not intended to interfere with the procedures for the disposition of property for the Metropolitan Government pursuant to Chapter 2.24, Part II, of the Metropolitan Code of Laws.
Section 2. This ordinance shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
IntroducedJuly 17, 2018
Passed First ReadingJuly 17, 2018
Referred toBudget and Finance Committee
Deferred to September 18, 2018August 7, 2018
Passed Second Reading-
Passed Third Reading-
Next ConsiderationSeptember 18, 2018
Requests for ADA accommodation should be directed to the Metropolitan Clerk at 615-862-6770.
Last Modified: 08/10/2018 2:59 PM