§ 44-1. Sale of tangible personal property.

(a) Finance may sell.

(1) The Department of Finance is hereby authorized to sell any tangible personal property belonging to the Mayor and City Council of Baltimore which is no longer needed for municipal purposes.

(2) Such sales may be either public or private and shall be made under such regulations as the Board of Estimates shall, from time to time, by resolution, adopt.

(b) Proceeds.

The proceeds derived from all such sales shall be accounted for as other revenue received by the Mayor and City Council of Baltimore.