1. The application to purchase or exchange city land is: (a) by an owner of property contiguous on a side with the city land applied for and the purchase is necessary for the proper utilization of the owner’s contiguous property; (b) by the United States, the state or a political subdivision; (c) by a public utility for facilities serving the general public; (d) for a beneficial new industry; or (e) for a particular, stated purpose in the best interests of the city, and the council approves the sale with appropriate findings and conditions;

2. The land so sold or exchanged shall not be used by the vendee, his or her heirs or assigns for any purpose other than that for which it has been classified by the city council at time of sale or unless otherwise zoned subsequent to sale;

3. No such sale or exchange shall be made if the result of such sale or exchange were to hinder or prevent the utilization of a larger parcel of city land to its best advantage;

4. Such sale or exchange is to the best interest of the city.