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`.. <br />MR <br />City of <br />Pequott <br />Lakes— <br />AGENDA ITEM #12.2 <br />REPORT TO <br />CITY COUNCIL <br />Date: September 6, 2011 <br />Subs: Capital Asset and Surplus Property Policy <br />Report: Staff is proposing an amendment to the City's <br />existing Capital Asset policy. This amendment was <br />prompted by a request from the Police Department to sell <br />vehicles through an on -line auction service. Our existing <br />policy did not allow this type of sale. After researching the <br />issue, it was discovered that this type of sale is authorized <br />by State Statute. <br />Attached is a red -lined copy of the amended policy and a <br />clean copy of the policy for your review. <br />Council Action Requested: Council motion to approve <br />the proposed amendments to the Capital Assets Policy. <br />