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0 6 <br />(b) The bids shall be submitted to the City Council <br />at its next succeeding regular legislative meeting or at <br />such other time as the City Manager may determine; and, <br />(c) At said meeting, prior to the time of award or <br />rejection of bids, the City Council may conduct a public <br />auction of each parcel using the highest bid received, or <br />the above stated minimum acceptable bid, as the minimum <br />bid. Oral auction bids may be received in the minimum <br />amount of one percent (1 %) greater than the previous bid <br />received. <br />(d) No sealed bid or auction bid submitted may be <br />withdrawn pending award or rejection of the bids. <br />4. The sale of the above described parcels shall be subject <br />to the establishment of a 20 -foot building set back area along <br />the front property lines. <br />- 3 - <br />