(a) Any personal property belonging to the City that is no longer required for the use of the City may be sold under such terms and conditions, and under such procedure as the Council may by ordinance prescribe; provided, however, that no such personal property that is under the control of any department of the City government shall be sold except at the request or with the approval of the Board, Commission or officer having the management of such department. The proceeds of the sale of personal property shall be paid into the City treasury and placed in the fund of such department.
(b) Notwithstanding provisions of Subsection (a), or of Sections 7.72 through 7.76 of this Code, any personal property belonging to the City that is under the supervision and control of the Department of Water and Power, the Department of Airports, or the Harbor Department and which the Board of Commissioners of the Department finds and determines to be no longer necessary or suitable for use of that department, may be sold by the Board of the respective department, or by the Purchasing Agent if requested by said Board.
Before approving the method of disposition of specific personal property by sale as permitted herein, the Board shall also first determine that the manner of sale and the mode of payment is in the best interest of the City, and the Board shall adopt written findings in support thereof. Prior to entering into any sale which involves payment over a period in excess of 60 days, the Board shall make certain that the net present value of any deferred payments thereon will be at least equivalent to the net present value of a cash sale.
The sale maybe either a public sale after advertising for bids or a private sale, and may be a sale for cash, on credit, or upon consignment by the Board to an agent or consignee to effect the sale thereof, provided however, that if the sale involves property valued at, or property anticipated to result in a sale in excess of $1,000,000 and is a sale on credit, the sale shall be subject to prior Council approval by ordinance. Proceeds of any sale under authority of this subsection shall be paid into the City Treasury and placed in the fund of the department which previously had supervision and control of the property and had made the determination that it should be sold.
SECTION HISTORY
Based on Charter, Sec. 394.
Amended by: Existing text lettered (a), Subsec. (b) added, Ord. No. 161,023, Eff. 4-28-86.