Negotiated sale of property.
Section 25
SEC. 25. Negotiated sale of property.—Property no longer needed may also be disposed of at a private sale at such prices as may be determined by the Committee on Award, subject, however, to the approval of the Commission on Audit when the acquisition or transfer cost of the property exceeds five thousand pesos in the case of provinces, sub-provinces and cities, and by the Provincial Auditor, in the case of municipalities when the acquisition cost is more than three thousand pesos. When real property is involved, the disposal shall be subject to the approval of the Office of the President and the Commission on Audit regardless of the value or cost involved. SEC. 26. Transfer without cost.—Property unserviceable or no longer needed by any local government unit may be transferred without cost to another government unit, local, national or corporate, at an appraised valuation determined by the local Committee on Award. Such transfer shall be subject to the approval of the local legislative body of the local government unit making the transfer and by the head of the department or office receiving the property.