A city may receive, solicit, or
negotiate an offer to purchase property
and advertise it for upset bids. When an
offer is made and the council proposes
to accept it, the council shall require
the offeror to deposit five percent (5%)
of his bid with the city clerk, and
shall publish a notice of the offer. The
notice shall contain a general
description of the property, the amount
and terms of the offer, and a notice
that within 10 days any
person may raise the bid by not less
than ten percent (10%) of the first one
thousand dollars ($1,000) and five
percent (5%) of the remainder. When a
bid is raised, the bidder shall deposit
with the city clerk five percent (5%) of
the increased bid, and the clerk
shall readvertise the offer at the
increased bid. This procedure shall be
repeated until no further qualifying
upset bids are received, at which time
the council may accept the offer and
sell the property to the highest bidder.
The council may at any time reject any
and
all offers. (1971, c. 698, s. 1; 1979,
2nd Sess., c. 1247, s. 25.) |
Administrator:
Tax Phone:
(252) 794-5310
Mapping Phone:
(252) 794-5311
Fax:
(252) 794-5357
|
