Sec. 7. (a) A disposing agent who exchanges property must proceed under this section, except as permitted by section 8 or 18 of this chapter.

     (b) An exchange may be made with a person who is:

(1) not a governmental entity; and

(2) eligible under section 16 of this chapter;

only after advertisement following as nearly as practical the procedure prescribed by section 4 of this chapter, with the property the disposing agent conveys to be partial or full payment for the property the disposing agent receives.

[Pre-Local Government Recodification Citations: 18-4-5-6 part; 19-6-2-38 part.]

As added by Acts 1981, P.L.57, SEC.37. Amended by P.L.60-1988, SEC.29; P.L.257-2013, SEC.42.