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Sale of Surplus Property

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Reviewed Date: May 20, 2014

Original Author: 
Broughton, Jeff
Date Created: 
Apr 7, 2014


Subjects:
Purchasing--Surplus property disposal

Sale of Surplus Property

Summary: 
MTAS was asked to provide draft code provisions to guide the sale and disposal of surplus property or unclaimed property.

Knowledgebase-Sale of Surplus PropertyApril 7, 2014

Dear ________________:

As we discussed, please find enclosed draft code provisions to guide the sale and disposal of surplus property or unclaimed property that may be of interest to you:

Sec. _-__. Sale or disposal of surplus property.
(a) The city manager shall be responsible for the sale and disposal of all surplus personal property. The sale or disposal of any single item for an amount in excess of $10,000.00 shall be approved by council.
(b) Real property owned by the city shall be sold or disposed only with the approval of the city council.
(c) Permissible methods to sell or dispose of surplus city property shall include, but are not limited to:
(1) Public auction;
(2) Solicitation of written bids;
(3) Negotiated sale to one or more designated buyers;
(4) Transfer to another governmental entity or agency at or below reasonable market value; or
(5) Lease or loan.

Sec._-__. Unclaimed property.
(a) All personal property held for the owner by the city that has remained unclaimed by the owner for more than one year is presumed abandoned.
(b) In the event unclaimed personal property is not accepted by the state treasurer in accordance with the Uniform Disposition of Unclaimed Property Act, T.C.A. § 66-29-101 et seq., then, in the discretion of the city manager, the property may be:
(1) Disposed of in the same manner as provided for the disposal of surplus property Sec. _-__;
(2) Retained for use by the city; or
(3) Destroyed if the city manager determines that the property is contraband, dangerous or of negligible value.
(c) Personal property which has been found by a citizen and deposited with the city may be returned to the finder if the property is not claimed by its owner within one year after its receipt by the city.
(d) The city manager may establish reasonable rates to be charged for the city's storage of personal property.

Please let me know if you have further questions regarding this matter.

Very truly yours,


Jeffrey J. Broughton
Municipal Management Consultant


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