Can cities unincorporate some of their land?

[Ruken]

2015 thread:

What is the opposite of municipal annexation, and when does it happen?

Cities and other municipalities will sometimes annex nearby territory. There are a variety of reasons for this that we could discuss elsewhere if folks are interested. Do cities (or other municipalities) ever divest themselves of territory? If so, what is it called, and how does it occur? I’m talking about situations other than when a municipality completely disincorporates.