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The asset shall be sold to the party who presents the highest cash offer under the <br /> stipulated terms. The City shall have the right to reject all offers. A capital assets <br /> form must be completed and submitted to the Administration r�*-���Office. <br /> 2) To Another Government A encX- Surplus property or non-expendable <br /> supplies may be sold to a government agency without going through the public <br /> sale process if approved by the City Council. A capital assets form must be <br /> completed and submitted to the Administration �'�*����Office. <br /> Trade-Ins <br /> Retiring a capital asset as a trade-in for a new acquisition will require a capital assets <br /> form to be completed and submitted to the Administration �'�*_��� Office. <br /> Lost, Stolen or Dama�ed Bevond Repair <br /> When a capital asset or non-expendable supply is retired from the capital asset system <br /> through one of these unexpected methods, the incident will be reported to the appropriate <br /> law enforcement personnel (if applicable) and a capital assets form must be completed <br /> and submitted to the Administration �'�*����'��Office. <br /> Transfers <br /> When transferring a capital asset from one department to another, it is the responsibility <br /> of the department losing the asset to complete a capital assets form and submit it to the <br /> Administration �'�*����Office. <br /> Betterments <br /> Also known as "additions to" an asset already in the system which have the effect of <br /> extending the useful life of an existing asset and is an expenditure other than normal <br /> maintenance and upkeep. It is the responsibility of the department acquiring the <br /> "betterment" to complete a capital assets form and submit it to the Administration C-� <br /> �'�Office. <br /> - 4 - <br />