§ 45-24.4-21 - Real property transactions.
SECTION 45-24.4-21
§ 45-24.4-21 Real property transactions.– Notwithstanding any provision or provisions of the charter of any city or townto the contrary, any city or town may sell or otherwise dispose of, or lease,to any person, including, but not limited, to the state or any instrumentalityof the state, for consideration (including, but not limited to, interests inother real property) and upon any other terms and conditions that may beapproved by the city or town council, any interest in real property owned bythe city or town land located within or adjacent to any special developmentdistrict created pursuant to this chapter without complying with any provisionor provisions otherwise requiring that the proposed sale, lease, or otherdisposition of the interest be advertised or otherwise publicized, or that thedisposition be made only to the highest bidder or only for a specified minimumconsideration; provided, that the city or town council has determined that thesale, lease, or other disposition is consistent with and is desirable as beingin furtherance of any plan of development adopted for the special developmentdistrict pursuant to this chapter. Any sale, lease, or other disposition of anyinterest in real property located within or adjacent to any special developmentdistrict created pursuant to this chapter shall not, if made pursuant to anagreement to which the state or any instrumentality of the state is a party, issubject to the tax as may otherwise be imposed by chapter 25 of title 44.