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CGM:lt:4/9/73 R <br /> (a) A public auction shall be conducted at the place, and <br /> on the date and time fixed by the City Clerk and set <br /> out in the notice of sale therefor. <br /> (b) Each item of the subject property, subject to the <br /> provision of subsection (f) , shall be sold to the <br /> highest responsible bidder for each such item at <br /> the public auction; but in no event shall any such <br /> item be sold for less than 90 percent of the appraised <br /> value thereof. <br /> (c) No auction bid submitted may be withdrawn pending award <br /> or rejection of the bids. No conditional bids will be <br /> accepted. Any and all bids may be rejected and the <br /> property readvertised or removed from the market. <br /> (d) All items shall be sold in the "as is" condition, and <br /> without warranty, express or implied, as to condition <br /> or usability. <br /> (e) All office equipment and miscellaneous items of a <br /> similar category, nature or type may be sold in groups <br /> or lots. <br /> (f) Items having an appraised value of $250.00 or less may <br /> be withdrawn from the market and sold to other govern- <br /> mental entities located within the boundaries of the <br /> County of San Mateo prior to the date and time of said <br /> public auction. <br /> 3. That the description of the property authorized to be <br /> sold hereunder, and the current market value of each item as <br /> determined by the Assessor of the City of Redwood City, is listed <br /> in "Exhibit A" hereof, attached hereto, and by this reference <br /> incorporated herein. <br /> 4. That the appropriate officers, agents or independent <br /> contractors of the City of Redwood City are hereby authorized and <br /> directed to execute all necessary or appropriate documents of sale <br /> in connection with the sale at public auction of the property <br /> hereinabove described. <br /> -2- <br />