Since floating IP addresses are limited and must be used sparingly, it's necessary to deallocate that IP address when not required.

A floating IP can be deallocated by invoking the remove_floating_ip_from_server() function call:

def remove_floating_ip(conn):
    server_id="7cdaa375-f1b5-40ab-81bd-7e3d052f370d"
    conn.compute.remove_floating_ip_from_server(server_id,"172.24.4.10")