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3.08.060. To City
In case no bid at least equal to the amount of taxes, principal and interest, cost of advertising, and expense of sale on each separate parcel is received as each separate parcel is offered for sale, such parcel shall be struck off to the City for the amount of the tax, principal and interest, the cost of advertising, and expense of sale, and the sale shall have the same effect as if made to an individual. The City Recorder shall thereupon transfer from the special improvement guaranty fund to the special fund for the improvement district in connection with which the tax was levied the amount due on the tax, plus the accrued interest, costs, and expenses of sale.
Ord. No.97-35, Recodified, 6/19/1997