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� ' <br /> owner, if he makes claim within eight months from the date of publication of the <br /> notice herein provided, and upon application and satisfactory proof of ownership, <br /> may be paid the amount of cash or negotiables or,in the case of property sold,the <br /> amount received therefore, less a pro-ra.ta share of the expense of storage, <br /> publication of notice, and sale expenses, but without interest. Such payment shall <br /> be also made from the General Fund. <br /> 6. Disposal of Excess Property. <br /> A. Property which is operable, but no longer useable to a particulaz <br /> depa.rtment may be disposed, if the surplus properiy cannot be transfened or sold. <br /> B. Sa1e of Property. Surplus property,which is to be sold,is subject <br /> to the requirements described in Minnesota Statutes Section 471345 or <br /> Minnesota.Statutes Section 15.054 <br /> C. Public Sale—A notice of public sale shall be listed in one of the <br /> following ways. <br /> a. A published notice in the official newspaper stating that the City is <br /> accepting sealed offers on the capital asset or surplus property. The notice <br /> shall be published in the newspaper at least ten(10)da.ys prior to the close <br /> of offers. <br /> b. Through an electronic selling process in which purchasers compete <br /> to purchase the surplus supplies,materials or equipment at the higlaest <br /> purchase price in an open and interactive environment. <br /> c. The asset shall be sold to the party who presents the highest cash <br /> offer under the stipulated terms. The City shall have the right to reject all <br /> offers. <br /> D. To Another Govemment Agency—Surplus property or non-expenda.ble <br /> supplies may be sold to a government agency without going through the public <br /> sale process if approved by the City Council. <br /> E. Trade-Ins-Property can be traded-in for a new acquisition, if approved by <br /> Council. <br /> F. Lost, Stolen, or Damaged Beyond Repair-When property is retired from <br /> the City through one of these unexpected methods,the incident will be reported to <br /> the appropriate law enforcement personnel (if applicable). <br /> 7. Persons Who May Not Purchase <br /> A. No employee of the City who is a member of the administrative staff, <br /> department head, a member of the Council, or an advisor serving the City in a <br /> professional capacity,may be a purchaser of property under this Section. Other <br /> Pequot Lakes City Code 29 <br />