(A) The sale or lease of real estate pursuant to this section shall be by competitive bid, except as otherwise provided herein. Bids shall be taken after advertisement once a week for three consecutive weeks in a newspaper of general circulation in the municipality. When a contract is authorized, the contract shall be made in writing with the highest and best bidder if the price bid is acceptable to Council. The city shall in all cases reserve the right to reject all bids in the event the Council determines that no bids submitted are acceptable.
(B) City Council may, by resolution, authorize the sale or leasing, without competitive bids of real or personal property in the city, in those cases in which Council determines that it is for the best interest of the city. The fact that competitive bidding is being eliminated and the reasons why the public interest requires it shall be stated in any resolution authorizing a sale without competitive bidding.
(Ord. 42-1985, passed 10-21-85)