Legal Documents of Baxter

Code of Baxter

Table of Contents » Title 5 Municipal Finance and Taxation » Chapter 3 Municipal Purchasing » § 5-324 Surplus property: items estimated to have monetary value.
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Title 5
5-1
Title 5, Chapter 1
5-101
§ 5-101
Baxter
Title 5 : Municipal Finance and Taxation
Chapter 3 : Municipal Purchasing

5-324 : Surplus property: items estimated to have monetary value.

When disposing of surplus property estimated to have monetary value, the purchasing agent shall comply with the following procedures:

  1. Obtain from the board of mayor and councilmen a resolution declaring said items to be surplus property and fixing the date, time and location for the purchasing agent to receive bids.
  2. A copy of the resolution shall be posted in at least three (3) locations in the community.
  3. Such equipment or materials shall be sold to the highest bidder. In the event the highest bidder is unable to pay within twenty-four (24) hours, the item shall be awarded to the second highest bidder.
  4. All pertinent information concerning the sale shall be noted in the fixed asset records of the city.
  5. The advertisement, bids, and property cards shall be retained for a minimum period of five (5) years. (2011 Code, § 5-325, modified)