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Whenever, in connection with any sale of property no longer needed for the use of the City, the Purchasing Agent shall receive from the Purchaser any money as cash bond or guaranty to assure that the property sold will be demolished or removed or that a site shall be cleared of debris, or that any other term of the contract of sale will faithfully be performed, such money so received shall be deposited in the Salvage Trust Fund.
SECTION HISTORY
Based on Ord. No. 52,230, Sec. 16.
Amended by: Ord. No. 85,313.
Whenever the conditions of such sale have been fulfilled to the reasonable satisfaction of the department which issued the Request for Sale, the depositor of such money shall be entitled to a return thereof, or of the unused portion thereof, and the Purchasing Agent shall draw the necessary demand on the Salvage Trust Fund.
SECTION HISTORY
Based on Ord. No. 52,230, Sec. 16.
Amended by: Ord. No. 85,313.
If the depositor shall fail to perform the terms of the sale, the department which issued the Request for Sale, shall submit to the Purchasing Agent an estimate of the amount required to demolish or remove the property, to clear the site, or to do any other work undertaken to be done by the depositor, whereupon the Purchasing Agent shall issue the necessary order to have the work performed, the cost of which shall be charged against the amount deposited. The department which requested the sale shall approve the invoice, and the Purchasing Agent shall issue the demands on the Salvage Trust Fund for the payment of the costs and for the refund to the depositor of any unexpended balance.
SECTION HISTORY
Based on Ord. No. 52,230, Sec. 16.
Amended by: Ord. No. 85,313.
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