Sec. 16-38. - Notice of receipt of bids; deadline for acceptance of bids; referral of bids to city council.

Upon receipt of a sealed bid for a sale of real estate not at public auction, the director of finance shall give notice by registered mail of the receipt of the bid to the owner of record prior to the purchase of the real estate by the city. After the expiration of 90 days from the giving of such notice to the owner of record by the director of finance, the sealed bids shall be opened by the director of finance and the bids shall be referred to the next regular meeting of the city council. No bid shall be accepted by the director of finance after 90 days from the date upon which the notice is given by the director of finance to the owner of record.

(Rev. Ords. 1987, § 16-38)