Section 176(2) in Karnataka Municipal Corporations Act, 1976
(2)With the sanction of the standing committee the Commissioner may dispose of by sale or exchange any corporation movable property [xxx] [Omitted by Act 32 of 2003 w.e.f. 16.6.2003.] or grant for any term not exceeding three years a lease of any corporation immovable property or a lease or concession of any such right as aforesaid.
