San Bernardino Municipal Code Ch. 2.65 Sale of Real Property

Pursuant to the provisions of the City Charter, real property owned by the city shall be sold as provided in this chapter.

(Ord. MC-955, passed 12-19-1995)

Real property with a fair market value of $25,000 or greater shall be sold by competitive bid to the highest and best bidder, but the sales price shall not be less than the fair market value.

(Ord. MC-955, passed 12-19-1995)

Real property with a fair market value of less than $25,000 may be sold by negotiated purchase, but the sales price shall not be less than the fair market value.

(Ord. MC-955, passed 12-19-1995)

For the purposes of this chapter, fair market value shall be established by resolution of the Mayor and City Council based on good and sufficient evidence in the record. For the purposes of property with a fair market value of $25,000 or more, GOOD AND SUFFICIENT EVIDENCE shall mean and include a formal appraisal performed by a licensed appraiser who is not a city employee.

(Ord. MC-955, passed 12-19-1995)

Notwithstanding anything in this chapter to the contrary, real property owned by the city may be sold to another public agency without the need for competitive bid, but the sales price shall not be less than the fair market value.

(Ord. MC-955, passed 12-19-1995)

A sales price may be a cash purchase or the city may accept a note and deed of trust at the fair market interest rate.

(Ord. MC-955, passed 12-19-1995)