AR SB336

Amends Arkansas Code § 14-54-302 to clarify municipal authority to sell, convey, lease, rent, dispose of, buy, and donate real and personal property, including property held for public or governmental uses.

Establishes a $20,000 threshold for when the mayor or authorized representative can independently sell or exchange municipal property without competitive bidding, unless the governing body establishes a lower amount by ordinance.

Requires competitive bidding for disposal of property exceeding $20,000 unless the mayor certifies in writing that the fair market value is less than the established amount.

Provides four options for disposing of obsolete or unused municipal personal property: public or internet auction, transfer to the Department of Finance and Administration's Marketing and Redistribution Section, transfer to another governmental entity within the state, or donation.

Repeals Arkansas Code § 14-58-306 and consolidates municipal property disposal procedures into a single statute requiring records maintenance and updates to municipal fixed asset listings for all property disposals.