(a) The receiver may bid at the foreclosure sale; if its bid is the highest bid, the sum due to the receiver as determined by the Court may be applied to said bid so as to reduce the sum otherwise payable by the receiver.
(b) If the proceeds from a foreclosure sale are insufficient to pay the sum ordered by the court, the City may recover said deficiency:
(1) By directing the City Assessor to add the amount due to the next tax roll of the City such that the deficiency is collected in the same manner as provided by law for collections of special assessments; or
(2) By petitioning the court, following the foreclosure sale, for the entry of a civil money judgment against the owner in the amount of the deficiency plus court costs.
(Ord. 30-05. Passed 10-18-05.)