Upon approval of a sale of surplus land by the city council, the mayor or his proxy is authorized to execute a quitclaim deed conveying the surplus land to the approved purchaser. The department shall not accept payment for the surplus land from any person other than the approved purchaser. If the purchaser does not consummate the sale through no fault of the city within 120 days of the approval by the city council, the city may terminate the sale upon written notice to the purchaser, re-offer the surplus land for sale, and retain the purchaser's faith deposit.
(Added Coun. J. 10-14-92, p. 22212)