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<br />DA~.djk 06/02/88 (#21) <br /> <br />in accordance with Section 3~ of the Charter of the City of <br /> <br />Redwood City. Said sale shall be conducted in accordance with <br /> <br /> <br />the bid documents and the following terms: <br /> <br /> <br />(a) Sealed bids, upon notice called therefore, shall <br /> <br /> <br />be received for said property until the date and time fixed <br /> <br /> <br />by the City Clerk and sent out in the notice of sale, and, <br /> <br />at the time and date fixed, the City Manager shall open the <br /> <br /> <br />bids received pursuant to advertisement therefor, and <br /> <br />determine the highest bid received for said property; <br /> <br />(b) No sealed bid submitted may be withdrawn pending <br /> <br /> <br />award or rejection of the bids. The City reserves the right <br /> <br /> <br />to reject all bids and to award as a lump sum or on an <br /> <br />individual item by item basis. In no event will the City <br /> <br /> <br />accept less than 90 percent of the appraised value of the <br /> <br /> <br />property, which has been determined to be Twenty-five <br /> <br />Thousand and No/100 Dollars ($25,000.00). <br /> <br /> <br />3. The bid documents consisting of the notice to Bidders <br /> <br /> <br />and the Instructions to Bidders with bid form are hereby <br /> <br /> <br />approved. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />2 <br />