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A sale by method of auction via competitive bidding shall conform to the following requirements:

(1) Advertisement of Sale of Real Property – Publication and Posting. The City Clerk shall publish an advertisement for bids once each week for two successive weeks in the official newspaper of the City. All pending sales may be advertised by any notice posted on a public bulletin board in a conspicuous place at City Hall, upon the City’s website, or upon a third-party website suitable for the sale of real property. Both such posting and the date of last publication must be at least five (5) calendar days before the final date for submitting the bids.

(2) Contents of Advertisement for Sale of Real Property. The advertisement for bids shall particularly describe the property or portion thereof proposed to be sold; shall designate the place and time that the bids will be opened; shall set forth the minimum price; and shall set forth the terms of the sale.

(3) Opening Bids for Sale of Real Property – Rejection. The bids shall be opened in public at the time and place stated in the newspaper publication. The City Council may reject any and all bids, or bid, for any one or more of the parcels of realty included in the advertisement for bids. [Ord. 4394 § 5, 2018; Code 1970 § 2.46.040; Code 1954 § 2-10.16.]