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?04?889820 CABARRUS CO. MGRS. OFC 3~8 P03 OCT 31 '94 16:5G
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<br />§ ~60A-.6~
<br />
<br />CH. 160A. CITIES AND TOWNS § 160A-'269
<br />
<br />exercise of it~ discretion in determining
<br />the meaa.~ fi~r selling, at publLc auction,
<br />pareel~ Of land acquired by ~orec~osure of
<br />t~x and a~root a~ses~ment
<br />ploy a real eatgte agent upon commie-
<br />
<br />s!on to obtain a responalble bidder at the
<br />sale to bid a s~m sufl~cienf; to protect the
<br />munlclpaiity's interest. Cody P,~alty &
<br />M%. Co. v. City or' Winston-Salem,
<br />N.C. 72~, ~ S.E.~d ~0~
<br />
<br />OPINIONS OF ATTORNEY GENERAL
<br />
<br /> Municipality may not convey real
<br />estate to a nomprofit corpora'don
<br />without consldera~ion so tha~ said
<br />property may be restored as an historic
<br />
<br />-qte. See ophlion of Attornoy General to
<br />Mr. KyI~. Hayes. North Wilkesboro
<br />Town At~:rn~y, 40 N.C.A.G. 500 (1969),
<br />Issued under former ~ 180-5$.
<br />
<br />§ le.,OA-267. Private sale.
<br />When the council proposes to dispose of property by private sale,
<br />it shall at a regular council meeting adopt a resolution or order
<br />authorizin~ an appropriate city official to dispose of the property by
<br />private .... ~e at a negotiated prier. The resolution or order shall
<br />ia .... ~.e property to be sold and may, but need not, specify a
<br />~: ,'.mm price, A notice summarizing the contents of the re~olu-
<br />tion or ordor shall be published once after irs adoption, and no sale
<br />$hall 0e consummated thereunder until 10 days after its publica-
<br />tion. (1971, c. 698, s. l; !979, 2nd Sess., c- 1247, s. 24.)
<br />
<br /> Local Modification. -- Mecklenburg:
<br />1981. c. 510; town of Wake Forest: 1957.
<br />c. 160.
<br />
<br />§ 160A-268. Advertisement for sealed bids.
<br /> The sale of property by adve~iseme, nt for sealed bids shall be
<br />do~e in the manner prescribed bv :aw for the purchase of pronerty,
<br />ex,apt that in the case of real p['opertv the advertisement fo~' bids
<br />shallbe begun not less than 30 days b~fore the date fixed for open.
<br />lng bids. il971, c. 698, s. 1,)
<br />
<br />§ 160A.269. Negotiated offer, advertisement, and
<br /> upset bids,
<br /> A city ma: receive, solicit. ~r negottate an offer to purchase prop-
<br />~rt.x. and advertise it tbr Ul?et bids, When an offer is made and the
<br />coutxcil proposes :.o accept ,t, ~he council shall require the offeror to
<br />deposit five percent (5%~ of his bid wi',h the city clerk, and shail
<br />publish a notice of the offer. 'She notice shall ~o,n, tain a general
<br />description of the property, the amount and ce'ms oTthe offer and ¢
<br />notice that within,lO dafs any person may raise the bid by ~{'O; les~
<br />than ten percent ,10%} of th'e first one thousand dollars (81,000)
<br />?nd, five,pe,,rce, nt ,5%) of the remainder. When a bid is raised, the
<br />mcaer snan aeposir with the city clerk five percent t5%) of the
<br />increased bid, and the clerk shali readvertise the offer at the iu-
<br />?yreased bid..T~}is procedure ~hal! be repeated until no further quali-
<br />lng upset picts are receivea, at ,~ hich rime the council may accept
<br />the offer and sell the property to the highest bidder. The corn oil
<br />may at any ti,m,e reject any :~td all offers. {1971, c. 698 s. 1: 1979,
<br />2nd Sess..'c. 1247, s. 25.{ '
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