Santa Barbara Municipal Code Ch. 4.28 Sale of Real Property

Real property owned by the City, the value of which is appraised at less than $5,000.00, and which the City Council is authorized to sell pursuant to the provisions of Section 520 of the Charter of the City, may be sold pursuant to the procedure hereinafter prescribed.

(Ord. 3424 §1, 1970)

Notice inviting bids shall be published at least 10 days before the date of opening of bids. The notice shall be published at least once in a newspaper of general circulation, printed and published in the City. The notice shall contain a general description of the property to be sold, the terms of the proposed sale, the nature of security required, if any, and the time and place for opening bids. The notice may designate a minimum acceptable price.

(Ord. 3424 §2, 1970)

At the time and place of opening bids, the City Clerk shall open and read all bids received. Any citizen present at such time and place may orally bid an amount not less than 10% greater than the highest bid opened and read by the Clerk. Such increased bid may be orally increased in increments of not less than three percent until the subject property is sold. The Mayor shall announce the sale, giving the name of the purchaser and the price to be paid. The City Attorney shall prepare the appropriate instrument of transfer and submit the same to the Council for execution at the next regular meeting.

(Ord. 3424 §3, 1970)