Chapter 7-3
CITY PROPERTY; ACQUISITION, MANAGEMENT AND DISPOSAL

SECTION:

7-3-1:    PUBLIC HEARING

7-3-2:    FAIR MARKET VALUE

7-3-3:    ADVERTISING PROCEDURE

7-3-1 PUBLIC HEARING:

Real property shall not be purchased, leased or disposed of by the city unless the matter has first been heard in an open meeting of the city council, and such purchase, lease or disposal has been determined to be in the public interest. (Res. 8-1995, 9-21-1995)

7-3-2 FAIR MARKET VALUE:

Whenever feasible, no sale or lease shall be approved by the city council without first analyzing the fair market value of such real property and determining that the tender offered is the highest price available to the city under the circumstances, after properly advertising such lease or sale intentions. (Res. 8-1995, 9-21-1995)

7-3-3 ADVERTISING PROCEDURE:

In advertising the lease or disposal of real property, the city shall use the following procedure:

A.    A written notice shall be sent by mail to all adjacent landowners to the subject property thirty (30) days prior to sale.

B.    Public notices shall be posted at the Huntington City hall, at the U.S. post office and at the site of the property to be sold, three (3) weeks prior to the date of sale.

C.    The property will be sold by sealed bids submitted to the city recorder in accordance with the instructions contained in the notice of sale.

D.    The notice of sale shall contain the following:

1. Legal description of the property and an approximate street address, if available.

2. The date and time of sale.

3. The minimum acceptable bid.

4. The method for submitting bids. (Res. 8-1995, 9-21-1995)