Whenever the Council shall determine that such sale shall be by sealed bids, all such sealed bids shall be identified by location on the face of the envelope and shall be filed with the City Clerk at or before the time specified in the Notice of Sale. The City Clerk shall present all such sealed bids to the General Manager of the Department of General Services, or the Board or Commission designated to receive such bids, or to the Council should the Council have so ordered. Said bids shall be presented after the expiration of the time for the submission of bids. The bids shall thereupon in public session be opened, examined and declared. No bid shall be considered unless accompanied by cash deposit, cashier’s check or certified check in an amount not less than ten percent (10%) of the amount specified in the Notice of Sale as the minimum price, or the sum of $10,000.00, whichever is less, as a guarantee that the person making such bid will purchase and pay for such property upon the terms and conditions specified in the Notice of Sale.
SECTION HISTORY
Based on Ord. No. 56,887.
Amended by: Ord. No. 92,757; Ord. No. 150,946, Eff. 7-17-78; Ord. No. 171,496, Eff. 3-7-97.
Readopted by Ord. No. 173,281, Eff. 6-26-00, Oper-7-1-00.