4.86.050 - PROCEDURE - PROPERTY OF A VALUE GREATER THAN ONE THOUSAND DOLLARS AND LESS THAN TWENTY THOUSAND DOLLARS
A. If the surplus property has an estimated value between $1,000.01 and $19,999.99, the purchasing manager may dispose of the surplus property in one of the specifically approved methods listed herein below without submitting a report to City Council: 1. Public auction; 2. Solicitation of written bids; 3. Negotiated sale to one or more designated buyers; 4. Transfer to another agency of government at or below reasonable market value. B. Alternatively, the purchasing manager may request City Council's authorization to dispose of the surplus property in another manner. C. If the purchasing manager cannot dispose of the property in one of the methods specified herein, the purchasing manager shall notify City Council and recommend further action. City Council will then direct the surplus property's disposition. D. The purchasing manager shall ensure that the proper fund is credited with any resulting proceeds. [Ord. 1999-10-064 §3; Ord. 9436 §3, 1985; Ord. 8916 §5, 1980]
