(A) Declaration of surplus and authorizing sale of property. The City Manager may, from time to time, recommend to the Council that certain personal property (chattels) owned by the city is no longer needed for a municipal purpose and should be sold. By action of the Council, said property shall be declared surplus, the value estimated and the City Manager authorized to dispose of said property in the manner stated herein.
(B) Surplus property with a total estimated value of less than $100. The City Manager may sell surplus property with a total value of less than $100 through negotiated sale.
(C) Surplus property with a total estimated value between $100 and $500. The City Manager shall offer for public sale, to the highest bidder, surplus property with a total estimated value of from $100 to $500. Notice of such public sale shall be given stating time and place of sale and generally describing the property to be sold at least ten days prior to the date of sale either by publication once in the official newspaper, or by posting in a conspicuous place in the City Hall at the City Manager's option. Such sale shall be by auction.
(D) Surplus property with a total estimated value over $500. The City Manager shall offer for public sale, to the highest bidder, surplus property with a total estimated value over $500. Notice of such public sale shall be given stating time and place of sale and generally describing property to be sold at least ten days prior to the date of sale by publication once in the official newspaper. Such sale shall be to the person submitting the highest bid.
(E) Receipts from sales of surplus property. All receipts from sales of surplus property under this section shall be placed in the general fund.
(2003 Code § 2.70)