(a) With the prior approval of the Board of Public Works, the Department may sell armories that are superfluous to the Department’s requirements.
(b) (1) The county or municipal corporation in which the armory is located has the right of first refusal to purchase the armory.
(2) If the county or municipal corporation declines to purchase the property, the Department shall sell the property at public sale for the highest cash price obtainable.
(c) The proceeds of a sale shall be placed in the Annuity Bond Fund under § 8-132 of the State Finance and Procurement Article.
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