§ 32-02-020. Negotiated sales.

(a)

If the value of the property is two thousand five hundred dollars ($2,500.00) or less, a written record shall be made of the sale for the auditors' inspection.

(b)

If the value of the property is over two thousand five hundred dollars ($2,500.00), notice of the sale shall be published two (2) times, as provided in section 32-01-020 of this Code, and disposition shall not be final until approval by the city commission.

(c)

If the value of the property is over five thousand dollars ($5,000.00), in addition to the requirements of subsection (b) of this section, a written appraisal of the property shall be made.

(d)

For the purpose of valuation under this section, the value shall be aggregated of all items of property which are:

(1)

Substantially similar or designed to function together; and

(2)

Sold to the same buyer.

(Ord. No. 679, § 1, 6-12-84)