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A. Before the city council disposes of a significant parcel of real property, the council shall:

1. Provide reasonable notice of the proposed disposition at least 14 days before the opportunity for public comment thereon; and

2. Allow opportunity for public comment on the proposed disposition.

B. Land larger than five contiguous acres, which was acquired without the intent to further convey it, constitutes a significant parcel of real property for purposes of this section. Land acquired with the intent to further convey it, such as land in excess of the portion needed for city uses or land acquired for economic development or redevelopment purposes, is not a significant parcel of real property.

C. A meeting of the city council constitutes the opportunity for public comment for purposes of this section.

D. Posting notice in at least three public places within the city and publishing notice in a newspaper of general circulation in the city constitutes reasonable notice for purposes of this section. [Code 2000 § 4-8-2].