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RULES <br />A public body may close a meeting pursuant to Minn. Stat. Section 13D.05, subd. 3(c)(3) to <br />develop or consider offers or counteroffers for the purchase or sale of real or personal property. <br /> <br />Before holding a closed meeting under this exception, the public body must identify on the <br />record the particular real or personal property that is the subject of the closed meeting. <br /> <br />Vik v. Wild Rice Watershed Dist., No. A09-1841 (Minn. Ct. App. Aug. 10, 2010) (unpublished <br />opinion) (holding that this exception authorizes closing a meeting to discuss the development or <br />consideration of a property transaction and is not limited to the discussion of specific terms of <br />advanced negotiations). DPO 08-001. DPO 14-014. <br /> <br />The closed meeting must be tape recorded. The recording must be preserved for eight years and <br />must be made available to the public only after all real or personal property discussed at the <br />meeting has been purchased or sold, or after the public body has abandoned the purchase or sale. <br /> <br />The real or personal property that is being discussed must be identified on the tape. <br /> <br />A list of members and all other persons present at the closed meeting must be made available to <br />the public after the closed meeting. <br /> <br />The actual purchase or sale of the real or personal property must be approved at an open meeting, <br />and the purchase or sale price is public data. <br />