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Plow/Dump Trucks 20 <br /> Fire Trucks 20 <br /> Vision Machine 5 <br /> Water Equipment(major) 20 <br /> Water Equipment(minor) 5 <br /> Water Filter(at water plant) 20 <br /> Water Lines 40 <br /> Water Mains 40 <br /> Water Plant 40 <br /> Water Purchases—2001 20 <br /> Water Purchases—2002&2003 5 <br /> Workstations 7 <br /> Retirements <br /> The term retirement is used to describe the removal of a capital asset from the capital <br /> asset system. The various types of retirement as defined below must be reported to the <br /> City Clerk's Office to ensure that changes are entered into the system and that the master <br /> file is updated. The department in charge of the retired asset is responsible for making <br /> sure the Clerk's Office is notified. <br /> Disposal of Property <br /> Property which is operable, but no longer useable to a particular department may be <br /> disposed, if the surplus property cannot be transferred or sold. If the property is <br /> considered a capital asset, a capital assets form must be completed and submitted to the <br /> City Clerk's Office. <br /> Sale of Property <br /> Capital assets and/or surplus property, which are to be sold, are subject to the <br /> requirements described in Minnesota State Statute (SS 15.054 and 471.345, subd. 17). <br /> Capital assets which are retired will be removed from the capital asset system by the <br /> Clerk's Office. <br /> 1) Public Sale—A notice of public sale shall be listed in one of the following <br /> ways. <br /> a) As 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 to <br /> purchase the surplus supplies, materials or equipment at the highest <br /> purchase price in an open and interactive environment. <br /> 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 City Clerk's Office. <br /> - 11 - <br />