The City Manager may transfer, sell, exchange or destroy any surplus, obsolete, abandoned or confiscated personal property without competitive bidding if such property has a value of less than $50,000. No personal property shall be sold without receiving competitive bids if the value is $50,000 and greater. For the purposes of this Chapter, a public auction shall qualify as competitive bidding. (Ord. 14-44 § 12, 2014; Ord. 07-84 § 9, 2007; Ord. 06-136 § 2, 2006; Ord. 99-119 § 2, 1999; Ord. 95-15 § 2, 1995; Ord. 88-155 § 1, 1988.)