(A) No surplus or obsolete supplies, materials or equipment of a value of more than $1,000 may be sold until the procedures outlined in this section have been followed.
(B) The Town Purchasing Authority may sell the following without giving an opportunity for competitive bidding:
(1) Surplus or obsolete supplies, materials or equipment whose total value does not exceed $1,000 in a single transaction;
(2) Supplies, materials or equipment when sold at a price at least as great as that paid by the town for the same; or
(3) Where the Board of Trustees has authorized the sale of surplus property at public auction under such terms, conditions and notice as the Board of Trustees may prescribe or as the Town Purchasing Authority deems appropriate.
(Prior Code, § 2-1-6)