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D. Fund and Claims, Thereon. All proceeds from such sale <br /> shall be paid into the General Fund of the City and expenses <br /> thereof paid therefrom. The former owner, if he makes claim <br /> within eight (8) months from the date of publication of the <br /> notice herein provided, and upon application and satisfactory <br /> proof of ownership, may be paid the amount of cash and <br /> negotiables or, in the case of property sold, the amount received <br /> therefor, less a pro rata share of the expenses of storage, <br /> publication of notice, and sale expense, but without interest. <br /> Such payment shall also be made from the General Fund. <br /> Subd. 3. Disposal of Excess Property. <br /> A. Declaration of Surplus and Authorizing Sale of Property. <br /> The City Administrator may, from time to time, recommend to the <br /> Council that certain personal property (chattels) owned by the <br /> City is no longer needed for a municipal purpose and should be <br /> sold. By action of the Council, said property shall be declared <br /> surplus, the value estimated and the City Administrator <br /> authorized to dispose of said property in the manner stated <br /> herein. <br /> B. Surplus Property Worth a Total Estimated Value of Less <br /> Than $100.00. The. City Administrator may sell surplus property <br /> with a total value of less than $100.00 through negotiated sale. <br /> C. Surplus Property With a Total Estimated Value Between <br /> $100.00 and $500.00. The City Administrator shall offer for <br /> public sale, to the highest bidder, surplus property with a total <br /> estimated value of from $100. 00 to $500.00. Notice of such <br /> public sale shall. be given stating time and place of sale and <br /> generally describing the property to be sold at least ten (10) <br /> days prior to the date of sale either by publication once in the <br /> official newspaper, or by posting in a conspicuous place in the <br /> City Hall at the City Administrator's option. Such sale shall be <br /> by auction. <br /> D. Surplus Property With a Total Estimated Value Over <br /> $500.00. The City Administrator shall offer for public sale, to <br /> the highest bidder, surplus property worth a total estimated <br /> value over $500. 00. Notice of such public sale shall be given <br /> stating time and place of sale and generally describing property <br /> to be sold at least ten (10) days prior to the date of sale by <br /> publication once in the official newspaper. Such sale shall be <br /> to publication once in the official newspaper. Such sale shall <br /> be to the person submitting the highest sealed bid. <br /> E. Receipts From Sales of Surplus Property. All receipts <br /> from sales of surplus property under this Section shall be placed <br /> in the General Fund, unless the property sold is dedicated park <br /> property, in which event the funds received shall be placed in <br /> the Park Fund.* <br /> Subd. 4. Persons Who May Not Purchase - Exception. <br /> 52 <br />