(a) Real estate now owned or hereafter acquired by the City, not being used for Municipal purposes, and which it may, from time to time, desire to sell, shall only be sold in the following manner:
Upon receipt of a written offer by the Mayor or City Clerk of a bid for any property owned by the City which the City desires to sell, the Mayor, before selling the same, shall first advertise by giving notice to the general public in a newspaper of general circulation in the City, once a week for two weeks, that a bid of a certain amount, the figure being stated, for the described property in question has been received and that any person desiring to submit a bid for such property shall have the opportunity to do so by submitting an offer in writing to the City Clerk within fifteen days from the date of the first publication. At the first regular Council meeting following the end of the fifteen day period, all bids submitted on such property will be read in open Council, at which time the highest bid for such property may be accepted or rejected at the discretion of Council by a vote of the majority thereof, or in the discretion of Council such bids so submitted may be continued to a regular Council meeting not more than thirty days from the date of the meeting at which such bids are submitted and during such period additional bids may be submitted to the City Clerk and shall be presented to Council on the date to which such matter has been continued, at which time Council may in its discretion accept the highest bid for any such property or reject the same by a vote of the majority of the Council present and voting.
(b) Upon acceptance of any bid in the manner set forth in subsection (a) hereof, the Mayor will be authorized to execute a special warranty deed for such property on behalf of the City.
(Passed 2-8-54.)