(A) Competitive bidding required.
(1) No surplus or obsolete supplies, materials or equipment of a value of more than $2,500 may be sold until the Town Board of Trustees has declared them obsolete or surplus.
(2) Before the Town Board of Trustees sells any surplus or obsolete supplies, materials or equipment, except as otherwise provided in division (B) below, they shall be advertised for sale in a newspaper of general circulation in the town or notice given in such other manner as the Board of Trustees deems necessary to adequately reach prospective buyers to give them an opportunity to make bids.
(3) All bids shall be sealed and shall be opened in public at a designated time and place, except for when the sale is by auction.
(4) The Town Board of Trustees may repeatedly reject all bids and advertise or give notice again. The Town Board of Trustees shall sell such supplies, materials or equipment to the highest responsible bidder for cash. In the case of a tie, the Board of Trustees may sell to either of the bidders tying or may divide the sale among two or more tying, always selling to the highest responsible bidder or bidders for cash.
(B) Competitive bidding not required. The Town Board of Trustees may sell the following without giving an opportunity for competitive bidding:
(1) Surplus or obsolete supplies, materials or equipment whose total value does not exceed $2,500 in a single transaction; and
(2) Supplies, materials or equipment when sold at a price at least as great as that paid by the town for the same.
(Prior Code, § 3-1-4)