Should the Municipal Council determine in its original motion to sell real estate that the property to be sold shall be sold pursuant to competitive bidding, the Municipal Manager shall invite bids for a contract and shall advertise the bids for not less than two consecutive weeks in a newspaper or advertise in tabloid of general circulation in the municipality. The bid shall be open and shall be publicly read by the Municipal Manager or person designated by him or her at the time, date and place as specified in the advertisement to bidders or in the specifications.
The time, date and place of the bid openings may be extended to a later date by the Municipal Manager, provided that written or oral notice of the change shall be given to all persons who have received or requested specifications not later than ninety-six hours prior to the original time and date fixed for the opening. Any bid on any contract for the sale of real estate shall contain the full name of every person or business interested in the bid and shall be accompanied by a certified check on a solvent bank as an escrow deposit for the completion of the contract of sale of real estate that will be entered into in an amount as set forth by the Municipal Manager. Upon closing, the deposit shall be applied towards the purchase price. Upon completion of the competitive bidding process, Council shall accept the best bid by motion.
(Ord. 1990-14. Passed 10-16-90.)