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3 ' <br /> �" owner, if he makes claim within eight months from the date of publication of the <br /> nohce herein provided, and upon applicahon 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-rata shaze 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. Disroosal of Excess Propertv. <br /> A• Property which is operable,but no longer useable to a particulaz <br /> department may be disposed,if the surplus property cannot be t7�asferred or sold. <br /> B. Sa1e of Property. Surplus property,which is to be sold,is subject <br /> to the requirernents described in Minnesota Statutes Section 471.345 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)days 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 highest <br /> purchase price in an open and interactive environment. '' <br /> c• The asset shall be sold to the party who presents the highest cash I <br /> offer under the stipulated terms. The City shall have the right to reject all % <br /> offers. <br /> � <br /> D. To Another Government Agency—Surplus property or non-expendable � <br /> supplies may be sold to a govemment agency without going through the public I <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 /> I <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). ''i <br /> 7• Persons Who May Not Purchase ' 'I <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 />