(1) Every transfer, sale, or trade of property classified as a capital assets per Section 2.52.030, or supplies with an original purchase price of Three Thousand Dollars ($3,000.00) or more, shall be based upon the highest and best economic return to the City, except that special consideration may be given to other units of government, other public organizations, quasi-public organizations, or nonprofit organizations. If a transfer is made to a qualifying governmental, public, quasi-public, or nonprofit entity, the value of the item transferred may be determined by the City Manager, or by a method specified by the City Manager and shall be conducted in conformance with Section 2.53.060 and this Chapter.
(2) The highest and best economic return to the City, as referred to in this Chapter, shall be determined by one or more of the following methods:
(a) sealed competitive bid;
(b) public auction;
(c) valuation by qualified and disinterested consultant;
(d) other professional publications and valuation services; or
(e) an informal market survey in the case of items possessing readily discernible market value.
(3) The sale of capital assets shall be directed by the Finance Director and shall be by sealed bid or public auction pursuant to Section 2.53.030(3). The City Manager may waive the sealed bid or auction requirement when the value of the property has been valued by an alternate method specified under this Subsection, and:
(a) the value of the property is considered negligible in relation to the cost of sale by bid or at public auction;
(b) sale by bidding procedures at public auction are deemed unlikely to produce a competitive offer; or
(c) circumstances indicate that bidding or sale at public auction will not be in the best interests of the City.
Ord. No.97-35, Recodified, 6/19/1997
Ord. No. 02-30, Amended, 6/20/2002