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Unless Council, in the ordinance provided for in Section 155.02, otherwise provides, any real estate or interests therein which are determined to be sold in an ordinance enacted pursuant to Section 155.02, shall be offered for sale, by the Director of Finance or other officer designated in the ordinance, at public sale after advertisement once a week for two consecutive weeks in a newspaper of general circulation within the City stating the date, time and place for receipt of bids, the location where any specifications or conditions of bidding may be examined and the amount of bid security required. The date for the public sale shall be not earlier than the eighth day following the second publication of the notice.
At the time and place specified in the notice of sale, the officer directed to conduct the public sale shall receive sealed bids from any person, corporation, firm or other association desiring to submit a bid, and shall at that time and place publicly open and read such bids. The officer receiving such bids shall report the bids so received to Council and Council shall determine, by motion made and duly adopted, whether to accept the highest bid or to reject all bids and either readvertise for new bids or determine not to sell such real estate or interests therein. (Ord. 18-72. Passed 2-21-72.)