2.120.040 Negotiated sales.
Following the passage of a resolution as provided herein, the Council shall direct the obtaining of at least one appraisal or a market analysis for the property being considered for sale. The appraisal or market analysis shall be performed by an independent qualified appraiser or realtor to determine the value of the property for the purpose it is intended to be used, and the value of the property for such other circumstances as the Council may direct. The appraisal or market analysis shall be performed not more than six months prior to the date of sale unless the Council by resolution setting forth its reasons provides for a longer period of time. The results of the appraisal or market analysis shall be made public prior to the Council’s approval of the sale of the real property. No real property shall be sold for less than the appraisal or market analysis price unless the Council sets forth its reasons by resolution. [Ord. 4394 § 4, 2018; Ord. 1991 § 3, 1978; Code 1970 § 2.46.035.]