(a) Sales of personal property shall be conducted by sealed bid unless the City Council elects to use a public auction process, including electronic public auctions. The City Manager shall prepare the terms under which bids shall be accepted, including setting a minimum bid for each item or lot to be sold. The City Manager may reject any and all bids received.

(b) Notwithstanding the provisions of this section, personal property with a value of less than $1,000 (determined under CCO 4.20.040(a)) may be sold by the City Manager using a method other than public auction or sealed bid.

(c) The City Manager may lease personal property for any term at the rates set forth in a combined rate schedule set by the City Manager, as the same may be revised from time to time. [Code 1979 § 6.07.050.]