The custodian of tax-deeded properties shall have full supervision over all properties deeded to the city for nonpayment of taxes and it shall be his duty to make all necessary arrangements with the former owners relative to redeeming their property, or properties, all arrangements made to be subject to the approval of the Special Tax Committee; provided, however, that any conveyance of the property, or properties, shall be subject to the approval of the Board of Mayor and Aldermen.
('71 Code, § 24-51)