(a) The director may approve the intermittent sale of personal property from city inventories to a political subdivision or agency of the state or to an entity of the federal government.
(b) The price of any city personal property sold under this section shall be not less than the fair market value of the property as determined by the director.
(c) The director shall keep an accurate record of every sale under this section and shall submit reports to the city controller containing the following information:
(1) the time, place, and method of sale; and
(2) a copy of each receipt given for the sale that describes:
(A) the item sold;
(B) the governmental entity purchasing the item; and
(C) the price received by the city for the item.
(d) The director shall keep every sales ticket covering a sale under this section for 36 months, at which time the sales ticket may be destroyed.
(e) The director shall deposit all proceeds received from a sale under this section to the credit of the appropriate city fund. (Ord. 20559)