In case there is no bid equal or greater in amount to the taxes named in the execution, in addition to any taxes due to the state and county on the property, the Finance Director shall buy the land for the town as the actual purchaser thereof, for the amount of the taxes and penalties, costs and charges, and the Chief of Police shall issue his or her receipt, and if not redeemed thereafter execute title, to the town as to any other purchaser, in the manner above provided, and shall put it or its authorized agent in possession of the premises. The land so sold and purchased and delivered to the town shall be treated by it as assets of the town and sold at which time and in a manner as by it shall be deemed most advantageous to it.
(1995 Code, § 1-5031)