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The governing authority of any municipality may, by ordinance, unless otherwise specifically prohibited or restricted by existing law, exchange any public property owned by said municipality, except municipally owned cemeteries, including streets or parts of streets, with property owners for any public purpose.  The properties to be exchanged must be appraised by competent appraisers and shall be of approximately equal value.  The governing body, however, may pay or receive any difference in value in cash.  All contracts of exchange made under the provisions of this Section shall be in notarial form and by ordinance dedicating the property to a specific use.

Amended by Acts 1950, No. 301, §1.