[HISTORY: Adopted by the Common Council of
the City of North Tonawanda 2-12-1940; amended in its entirety 3-20-2018.]
Whenever the Common Council shall determine, 3/4 of its members
voting in favor thereof, to sell any piece or parcel of real estate
belonging to or under the control of the City, they shall direct the
City Treasurer to advertise and publish a notice of the same.
A.
The City Treasurer when so directed shall publish a complete description
of the real property for sale, together with the date of sale and
the terms thereof, in the official papers or paper of the City at
least once a week for three successive weeks immediately preceding
the said date of sale.
B.
In case of a sale, the terms thereof shall be cash, whereupon 10%
of the purchase price shall be paid at the time and place of sale,
or if not for cash, upon such other terms as the Common Council shall
prescribe.
The City Treasurer shall attend upon the date and at the place
of sale, and sell the real estate at public auction to the highest
bidder; he shall give his receipt for the down payment of the purchase
price, and he shall communicate the sale price to the said Common
Council at the next regular session thereof.
The Common Council reserves the right to reject any and all
bids. No such sale of real estate shall become effective unless made
as herein provided and subsequently approved by resolution of the
Common Council.
