For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
APPRAISAL. A written opinion of market value.
PUBLIC SALE. Disposal by public auction, advertised sealed bids, or some other open market procedure which provides the public an opportunity to participate.
SURPLUS CITY PROPERTY. Real estate owned by the city which is not required for municipal purposes either presently or in the foreseeable future.
('71 Code, § 23½-1) (Ord. passed 4-4-89)