The Catasauqua Borough Council hereby authorizes the Borough
Manager to sell the personal property of the Borough which has an
estimated value of less than $1,000 pursuant to the following procedure:
A. The Borough
Manager shall determine the value of the subject personal property
(the "property") by obtaining five vendors dealing in the property,
or goods substantially similar to the property, in their regular course
of business.
B. The second
lowest estimate shall constitute the minimum permissible sale price
for the property (the "minimum price").
C. The Borough
Manager may then solicit and accept written offers of purchase at
a price in excess of the minimum price (individually referred to as
a "purchase offer").
D. After three
consecutive business days following receipt of the most recent purchase
offer, the Borough Manager may accept the highest purchase offer received
to that date and sell the property with or without prior approval
of Council. In the alternative, the Borough Manager may reject all
purchase offers or other offers at any time.
E. The Borough
Manager shall report such sale at the Council meeting immediately
subsequent to such sale.