What is the Authority for a Municipality to Acquire, Own and Dispose of Property?

Montana law 7-1‐4124, MCA delegates broad authority to municipalities to: “buy, sell, mortgage, rent, lease, hold, manage, or dispose of any interest in real or personal property.” However, there are a number of legally required procedures that must be followed in acquiring or disposing of municipal property. These procedures are identified and described below for the more common transactions involving municipal property.