Legal Documents of Mountain City

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 aldermen a resolution declaring said items to be surplus property and fixing the date, time and location for the purchasing agent to receive bids. The board of mayor and aldermen may authorize the use of an online electronic auction service to dispose of surplus property when it is deemed in the best interest of the city.
2. A copy of the resolution shall be posted in at least three locations in the community. Newspaper advertisement is also required listing all pertinent information regarding the surplus bidding process, date, time, and location.
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. (Ord. #1821, June 2023)