§ 2-35. Sale of property; public notice; sale price.

(a)

The Selectmen are authorized, subject to the approval of the Board of Estimate and Taxation, to:

(1)

Sell any property acquired by the Town by virtue of judgments in tax lien foreclosure proceedings or by conveyance in lieu thereof, either at public auction or private sale; and

(2)

Execute all contracts and instruments of conveyances thereof. Such sales shall be on such terms as to credit as the Selectmen shall deem fit, except that no mortgage shall be taken above fifty percent (50%) of the purchase price.

(b)

No such property shall be sold at private sale unless previously advertised in the local newspapers for bids thereon. No private sale shall be made of any property for a price less than the highest bid so received.

(Ords. & Reg., § 18-1, 10/21/1946.)