Section 272(2) in The Orissa Municipal Corporation Act, 2003
(2)The acquisition of property referred to in Sub-section (1) shall be made by the Commissioner on behalf of the Corporation subject to terms, rates or maximum price for a particular case or for any class of cases as fixed by the Standing Committee on Contract, by any resolution :Provided that -(a)the sanction of the said Standing Committee shall be required, for the acquisition or exchange of any immovable property, for the acquisition of any movable property the value of which exceeds twenty thousand rupees but do not exceeds fifty thousand rupees in each case, for the taking of any property on lease for a term exceeding one year but not exceeding three years, or for the acceptance of any gift, or bequest of property burdened by an obligation; if the value of such property do not exceed twenty thousand rupees; and(b)the sanction of the Corporation shall be required, for the acquisition of any movable property the value of which exceeds fifty thousand rupees, for the acquisition or exchange of any immovable property the value of which exceeds fifty thousand rupees, for taking of any property on lease for a term exceeding three years or for the acceptance of any gift or bequest of property burdened by an obligation if the value of such property exceeds twenty thousand rupees.
