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(e) Unless otherwise specifically authorized by Resolution of <br />the Common Council, any property valued by the Board at <br />$1,000. or more shall be sold by competitive bidding, as <br />follows: <br />(1) The Board shall prepare an offering sheet specifying <br />the parcel, the physical characteristics, and the <br />offering price, which shall be the valuation estab- <br />lished by the Board. Copies of the offering sheet <br />shall be available to the public on request. Maps <br />and plats concerning the particular property shall <br />be kept in the offices of the Board for inspection by <br />the public. <br />(2) The Board shall publish notice calling for sealed <br />bids at not less than the offering price. Bids may <br />be received in the Offices of the Board until the <br />time specified by notice for the opening of bids. <br />(3) The Board shall open all bids at its public hearing, <br />and every bid opened shall be available for public <br />inspection. The Board shall award the sale of the <br />property to the highest and best bid equal to not <br />less than the offering price. In determining the best <br />bids, the Board shall consider, among other factors, <br />the proposed use of the property zoning restrictions, <br />the size and character of the property, the improve- <br />ments proposed by the bidder, the bidder's plans and <br />ability to make the improvements with reasonable prompt- <br />ness, whether the bidder will sell or rent the property <br />after improvement, and the bidder's proposed sale or <br />rental price. The award of a sale of any property on <br />which the offering price was in excess of $25,000. <br />shall be approved by resolution of the Common Council <br />before it may be deemed effective. <br />(4) If either there is no bid received at least equal <br />