In all cases involving a sale of city-owned real or personal property having a market value of less than $10,000, the city is authorized to sell any such property or any interest therein or any part thereof for a fair and adequate consideration and to accomplish such sale without the use of the public auction procedure; provided, that the following requirements are satisfied.
(A) Personal property is to be inspected by a knowledgeable city employee for the purpose of determining the condition of the property.
(B) Real property shall be inspected by a knowledgeable person chosen by the Mayor for the purpose of determining the condition and value of the real property.
(C) The market value of the personal property to be sold shall be established through use of reputable publications that provide a loan value for the property, (i.e., N.A.D.A. Official Used Car Guide, Kelly’s Blue Book and the like for motor vehicles).
(D) The market value of real property to be sold shall be established in the manner used by real estate sales agents.
(E) Insofar as motor vehicles are concerned, if the fair market value is less than the average loan value, the vehicle may be sold for less than the average loan value.
(F) If the loan value for other property cannot be established, the City Treasurer shall determine a market value based in large part upon due consideration being given to current market prices of similar property.
(G) Every sale of city-owned real or personal property having a market value of less than $10,000 shall be authorized by resolution of the City Council, which resolution may specify terms and conditions of any such sale; provided, that before any proposed sale is authorized by resolution of the City Council, a public hearing on the proposed sale shall be held by the City Council, after notice of the date, time, place and purpose of the public hearing, together with a brief description of the property to be sold, has been published as a Class I legal advertisement in compliance with the provisions of W. Va. Code 59-3-1 et seq. and the publication area shall include the city.
(Ord. 15-, passed 6-2-2015)