Whenever any lot or parcel shall have been acquired by the city at any such sale, then such property, or any lien thereon or interest therein created by such assessment, may be released, assigned, sold or otherwise disposed of by city as it shall determine; provided, however, that no such release, assignment, sale or other disposition of any such lien or interest, or of any such property, shall be made unless there shall be first paid to city a sum of money equal to, and not less than the amount paid therefor by city, together with all accrued penalties, costs, interest, and necessary expenses incurred; provided, further, that if any lien or interest, or property, cannot, as determined by council, be sold for the amounts or charges computed as herein provided, then the council may by four-fifths vote, of all its members, sell any such lien or interest or property for the best price obtainable according to its judgment.
(Prior code § 12-1.709; Ord. 1509-69 § 1, 1969)