Obsolete property not needed for Municipal purposes shall be disposed of in the following manner:
(a) Value Less Than $l,000. Obsolete property with an estimated value of less than one thousand dollars ($1,000) shall be advertised for auction in a newspaper of general circulation within the City by the director having supervision thereto for not less than two nor more than four consecutive weeks. The director having supervision thereto shall conduct such auction, and all obsolete property shall be offered at public auction. Items not sold at such auction shall be disposed of by the director at his discretion.
(b) Value Exceeding $1,000. Obsolete property with an estimated value exceeding one thousand dollars ($1,000) shall be sold only and when all of the following steps have been taken:
(1) Authorized by ordinance.
(2) Approved by the director having supervision of such obsolete property.
(3) Advertise for bids.
(4) Entered into a written contract with highest and best bidder.
(c) Trade-In. Notwithstanding subsections (a) and (b) hereof, nothing in this section shall prevent the Mayor from authorizing the trade-in of obsolete property valued at less than one thousand dollars ($1,000.00) when such property is to be replaced by the purchase of new property and the selling price for the same be credited against the purchase of new property. The Board of Control may authorize trade-in of property valued at less than one thousand dollars ($1,000.00) towards the purchase of new property and the selling price for the same be credited against the purchase of the new property.
(Ord. 4965-1976. Passed 6-1-76; Ord. 9403-2007. Passed 9-4-07.)