(A) The purchasing agent, the Mayor or his or her designee shall have authority to transfer stock or surplus supplies to other offices, departments, or agencies of the town.
(B) If the purchasing agent, the Mayor or his or her designee deems it appropriate, surplus stock and supplies can be given to charity or to another public entity; provided, however, that prior approval is given by the Town Administrator for items with an estimated value up to $1,000 and by the Mayor and Town Council for items with an estimated value of $1,000 and above.
(C) If deemed appropriate and approved by the purchasing agent, the Mayor and Town Council, surplus stock and supplies may be auctioned off to the highest bidder at an auction that has been noticed in a paper of general circulation. Written bids will be accepted on all surplus stock and supplies that have been listed in the auction bulletin. The auction bulletin shall describe each item and its fair market value. Employees, Council members, and their immediate families are not eligible to bid on auction items.
(D) Surplus stock and supplies with an estimated value exceeding $25,000 shall be sold by formal written contract to the highest responsible bidder, after due notice inviting proposals.
(Ord. 2012-16, passed 11-15-2012; Am. Ord. 2017-06, passed 5-18-2017; Am. Ord. 2019-13, passed 1-16-2020)