The Borough Council hereby authorizes the Borough Manager to sell personal property of the Borough which has an estimated value of less than one thousand dollars ($1,000) pursuant to the following procedure:
   (a)   The Borough Manager shall determine the value of the subject personal property (the "property") by obtaining an estimate from a vendor dealing in the property, or goods substantially similar to the property, in their course of business.
   (b)   The lowest estimate shall constitute the minimum permissible sales price for the property (the "minimum price").
   (c)   The Borough Manager may then solicit and accept written offers of purchase at a price equal to or in excess of the minimum price (individually referred to as a "purchase offer").
   (d)   After three (3) consecutive business days following receipt of the most recent purchase offer, the Borough Manager may accept the highest purchase offer received to that date, and sell the property with or without prior approval of Council. In the alternative, the Borough Manager may reject all purchase offers or other offers at any time.
   (e)   The Borough Manager shall report such sale to Borough Council immediately subsequent to such sale.
(Res. 2001-18.  Passed 9-24-01.)