Local Government Code of 1991
Section 380. Negotiated Sale of Property. - Property no longer needed may also be disposed of at a private sale at such price as may be determined by the committee on awards, subject to the approval of the Commission on Audit or its duly authorized representative when the acquisition or transfer cost of the property exceeds Fifty thousand pesos (P50,000.00) in the case of provinces and cities, and Twenty-five thousand pesos (P25,000.00) in the case of municipalities and barangays.
In case of real property, the disposal shall be subject to the approval of the Commission on Audit regardless of the value or cost involved.