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. <br /> "Public notice: shall be given by p ub.licati.on in the <br /> official newspaper once at least five (5) days prior to the <br /> acquisition of any real property when the purchase price to <br /> be paid by the city equals or exceeds the sum of two thousand <br /> dollars ($2,000) , unless such acquisition is to be accomplished <br /> pursuant to the general laws of the State by condemnation in <br /> eminent domain proceedings or unless such acquisition is <br /> necessary in connection with public improvement proceedings <br /> accomplished pursuant to law. <br /> Any sale or lease of city owned property shall be accom- <br /> plished in accordance with the following procedure: <br /> (a) Public notice of any proposed sale or lease of city <br /> property shall be given at least once a week for two weeks <br /> in the official newspaper. Such notice shall contain a <br /> statement that any and all bids may be rejected and the <br /> property may be readvertised. If the property is to be <br /> . leased the notice shall state generally the term and conditions <br /> of such lease. <br /> (b) Prior to the sale of any city property, the City <br /> Assessor shall appraise the same and determine the current <br /> market value thereof. With the approval of the City Council <br /> or the Board of Port Commissioners, as the case may be, the <br /> City Assessor may obtain the services of other qualified <br /> persons to assist him in such appraisal. <br /> (c) Sale or lease of city property may be made only to <br /> the highest responsible bidder at public auction or upon <br /> sealed bids to the City Council or the Board of Port Commis- <br /> sioners as the case may be. Any and all bids may be rejected <br /> and the property readvertised or removed from the market. <br /> No sale of any city property shall be made for less than <br /> ninety percent (90%) of the appraised value thereof. <br /> (d) Any city real sold <br /> of two hundred fifty dollars <br /> without public notice or public bid as required by this <br /> section; provided, however, that no such property shall be <br /> sold for less than ninety percent (90%) of the appraised <br /> value thereof. Any city personal property having an <br /> appraised value of one thousand dollars ($1,000) or less <br /> may be sold without public notice or public bid as required <br /> by this section; and, further, such property may be sold <br /> for any reasonable amount irrespective of its appraised <br /> value. <br /> (e) Any sale of the City Council of real property having <br /> an appraised value of less than seventy-five thousand dollars <br /> ($75, 000) shall be authorized only by resolution adopted by <br /> the affirmative vote of at least five-sevenths (5/7ths) of <br /> all members of the Council. Any such sale of real property <br /> having an appraised value in excess of seventy-five thousand <br /> dollars ($75,000) shall be authorized only by ordinance of <br /> the City Council adopted by the affirmative vote of at least <br /> five-sevenths (5/7ths) of all members of the Council. Any <br /> such ordinance shall be subject to the referendum provisions <br /> of this charter. <br /> -3- <br />