Upon approval by the city council, surplus property owned by the city which is no longer of public use and which is valued at more than $1,000 shall be sold by calling for sealed bids or by live auction, at the council's discretion.
A. Sale by Sealed Bidding.
1. The call for sealed bids shall contain a description of the property to be sold, the location thereof, the name and address of the person with whom the bid is to be filed, the last date for filing bids, and any other pertinent information required by the city manager. Such call shall be published at least once in the official newspaper of the city not less than five days before the last date for filing of bids.
2. Each bid shall be accompanied by a deposit in the form of a certified or cashier's check in the amount equal to but not less than 10 percent of the amount of the bid. All such deposits so made shall be returned to the unsuccessful bidders after award of a bid, if any. The deposit of the successful bidder shall be applied toward the bid price, or upon failure of such bidder to consummate the purchase, such deposit shall be forfeited as liquidated damages and such deposit shall be credited to the appropriate account.
3. Sealed bids shall be opened in public by the city clerk or duly authorized agent at the time and place specified in the call for bids. The city clerk or duly authorized agent shall make a tabulation of all bids received and forward the bids to the city manager for approval or rejection. The city manager shall accept the highest bid that exceeds the city's estimated value.
4. In the event no bids are received, all bids are rejected, or no bid exceeds the city's estimated value, the city manager may either ask for new sealed bids or direct the sale or disposition of such surplus property under the procedures adopted pursuant to MCMC §
3.44.020.
B. Sale by Live Auction.
1. Notice of the live auction, a description of the property to be sold and any other pertinent information required by the city manager shall be published at least once in the official newspaper of the city not less than five days before the auction.
2. The auction shall be conducted by the city manager or at his direction. The city manager shall accept the highest bid that exceeds the city's estimated value.
3. In the event no bids are received or no bids exceed the city's estimated value, the city manager may direct the sale or disposition of such surplus property under the procedures adopted pursuant to MCMC §
3.44.020.