Surplus city property in usable condition, if its estimated value is less than five thousand dollars, may be disposed of in the following manner: The purchasing officer shall make an investigation of the market conditions of personal property of the type declared surplus and determine prices of all surplus property which, in his opinion, will be competitive with prices in the open market. He may then sell such personal property at such prices by advertising in the most appropriate means which, in his opinion, will bring the greater number of potential purchasers, but he shall cause to be published at least once, at least three day before such sale, in a newspaper of general circulation, published and distributed in the city, a notice of sale setting forth the day it shall begin, and the number of days it is to be continued if it is to last more than one day, and the place where the articles may be examined, and the place where the purchase price is to be paid and the property delivered, and the general description of the type of property being sold. The terms of all such sales shall be cash in the amount of the full purchase price. The purchasing officer or his authorized representative shall give a receipt to the purchaser of such property and keep a copy for his files. The purchase officer shall receive and deposit such money in the fund from which the property was originally purchased. (Ord. 88-16 Art. 2 § 17, 1988)