3.04.020 Acquisition of Real Property.
(1) Interests in real property shall be purchased or otherwise acquired for Provo City by or under the direction of the Mayor, and no other officer or employee shall be authorized to purchase real property for or in behalf of Provo City.
(2) Approval or ratification of the Municipal Council shall be required for all acquisitions of interests in real property wherein the purchase price of the interest acquired exceeds ten thousand dollars ($10,000.00) and the said interest is not specifically identified in a budget line item. Subject to the other requirements of this Section, all other acquisitions of interests in real property may be authorized by the Mayor without Council action.
(3) No agreement to purchase or otherwise acquire an interest in real property shall take effect until the Finance Director, or the Finance Director’s designee, has certified:
(a) that the purchase or acquisition is generally or specifically authorized in the City budget; and
(b) to the probable existence of sufficient funds to pay for the interest in real property according to the proposed contract terms.