(a) A single item of surplus property, the estimated value of which is $1,000.00 or more, may be sold at electronic auction pursuant to the following requirements and the requirements of Section 111.09(b). The Director of Finance shall develop rules and regulations governing the sale of surplus property through electronic auction. Such auction shall be conducted by the Director of Finance with the assistance of the Department Director or Division Chief requesting such sale. An electronic auction may be by any means which the City Manager and Director of Finance approve. An item of surplus property whose value is $5,000 or less may, upon concurrence of the City Manager and the Director of Finance, be sold by means of an electronic auction.
(b) Prior to the transfer of any property, the appropriate Department Director or Division Chief shall be responsible for the removal of logos, seals, emblems or other marks identifying the property as the property of the City. A list of items of property sold, their general condition at the time of sale, the name of the purchaser, the purchase price and the reason for declaring the items available for sale shall be maintained in the office of the Director of Finance and shall be available for public inspection. Items of surplus property shall be sold “as-is” to the highest bidder and, in the case of an electronic auction, the Director of Finance may establish a minimum bid for any item of surplus property.
(Ord. 03-2008. Passed 2-4-08.)