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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 03/04/2008 - FIRST READING OF ORDINANCE NO. 026, 2008, AMENDING ITEM NUMBER: 16 AGENDA ITEM SUMMARY DATE: March 4, 2006 FORT COLLINS CITY COUNCIL STAFF: Jim O'Neill SUBJECT First Reading of Ordinance No. 026, 2008,Amending Chapters 8 and 23 of the Code of the City of Fort Collins to Update Miscellaneous Provisions Regarding Purchasing and Personal Property. RECOMMENDATION Staff recommends adoption of the Ordinance on First Reading. The Finance Committee reviewed the changes at its February 11, 2008 meeting and recommends adoption of the changes. EXECUTIVE SUMMARY Chapter 8, Article IV Section 8 of the City Code, relating to purchasing and contracting was last updated in 1996. The changes to the Code include housekeeping changes,increases to dollar limits and changes to improve speed, flexibility, service, and accountability. BACKGROUND The purchasing ordinances are periodically updated(1990, 1991 and 1996). Over the past two years Purchasing has been working to identify changes which would make the processes more efficient and effective. The proposed changes will eliminate some non-value added process, increase flexibility and raise dollar thresholds. These changes will allow Purchasing to spend more time on the larger more complex purchases, where the most value can be added. Summary of Suggested Changes: Dollar Limits would be increased: Mini-Orders: from $2,000 to $5,000 Formal Bid Required: from $30,000 to $60,000 Council Approval of Exceptions: from $100,000 to $200,000 March 4, 2008 -2- Item No. 16 See 8-112. Definitions: Definitions added/clarified: • Alternative Delivery Methods • Construction Manager • Design Build • Design/Select/Build • Price agreements • Work order • Work order contract Sec 8-113. Policy Allows for the City Manager to approve changes and modifications to the purchasing manual and other purchasing policies. Sec. 8-158. Competitive sealed proposals. • Clarifies that Competitive sealed proposals method of selection may be used when the City is using an Alternative Delivery Method. See. 8-161. Minor purchases. • Increase the dollar amount from $2,000 to $5,000. • Adds a section authorizing the Purchasing Agent to authorize increased delegated purchasing authority to departments to$10,000 if they are purchasing directly from a pricing agreement and have received additional training. See. 8-161. (c) Construction Change Orders. • Changes the dollar limit to from $30,000 to $60,000. Sec. 8-161. (d) Miscellaneous exceptions. • Adds a section exempting the purchase of utility services from the authorized franchisee. Sec. 8-162. Bids and performance bonds. • Increase dollar limit from $50,000 to $100,000 to be consistent with State Statutes. Sec. 8-165. Cooperative procurement plans. • Clarifies the types of cooperative and pricing agreements which may be used. March 4, 2008 -3- Item No. 16 Sec. 8-185. City Attorney review. • Adds a section reiterating the City Charter provision that contracts be on forms approved by the City Attorney. Chapter 23, Article IV. Public Property - Disposition of Property. • Adds the ability to use publicly-accessible electronic media such as the city web site when advertising the disposition of public property. EXPLANATION OF CHANGES Raising the dollar threshold will allow Purchasing to reduce processing times for lower dollar items while still maintaining fiscal integrity of the system. It also allows Purchasing to concentrate additional effort on the high dollar complex purchases where they can add the most value. Most purchasing operations periodically review dollar levels to ensure that routine purchasing activity is properly delegated. Dollar thresholds were last changed at the end of 1996 at which time they were doubled. Small Order Limit from $2,000 to $5,000 Order amounts under the small order limit are delegated to departments. This is consistent with best practice recognized by the National Institute of Governmental Purchasing,of delegating small dollar routine purchases to the using departments. For many of the items purchased, there are existing contracts, such as for office supplies, computers and hardware. Departments are cognizant of budgetary limitations. The more money each department can save on purchases, the more that is available for other program uses. To quote one department: "We do some price shopping, the intemet now helps, but again the majority of our purchases are from local vendors and equipment suppliers that we have used for many years and whom we trust. We are more likely to compare larger expense items but again we take into consideration the quality of service and the convenience we have experienced in the past." From another: "We have many short-term hourly employees plus interns and volunteers who use mini-orders. Many teach classes that require supplies and rather that a full time staff member shopping,we give mini-orders to the instructors to purchase what they need —it can be paint, paper, food, beverage, etc. It is less expensive having the instructors do this than paying a full time staff member to shop." All receipts are verified and reasonableness of cost before payment is made. Another vehicle for making purchases for amounts under$2,000 is the Purchasing Card. Where it is feasible,departments are encouraged to make small purchases on the Purchasing Card. The Card is similar to a credit card but with many built in controls. These include: • Limiting the vendors where the Card can be used, i.e., no liquor stores, etc. • No cash advances allowed. • Limiting the individual purchase amount. • Limiting the total number of purchases per day or month. • Limiting the total dollar amount of purchases per month. Purchasing Card transactions are spotted audited on a monthly basis. March 4, 2008 -4- Item No. 16 This is another efficiency change. This will allow the Purchasing division to focus on larger purchases while still ensuring that tax dollars are not wasted. Raising the small order limit to$5,000 will also result in time savings for departments with minimal fiscal impact. In 2007, there were 13,103 "mini orders" for purchases under $2,000, for a total of$4,391,867. Raising the limit to $5,000 would increase this amount by $2,929,412 and 860 "mini orders." Total small purchases would then amount to 8.45% of the total spending processed by the Purchasing Division. Type of Small Number DollarAmount Average Purchase Purchase Mini Orders @ $2,000 13,103 $4,391,867 $ 335.18 limit Additional Mini 889 $2,890,556 $3,251 Orders A $5,000 limit Purchasing 33,724 $4,908,924 $ 145.56 Card Purchases Total 47 716 1 $12 191 347 1 $ 255.50 Larimer County, Denver, Colorado Springs and the State of Colorado allow purchases up to $5,000 using the purchasing card. Delegation of Additional Amounts up to $10,000 Proposes change would also allow the Purchasing Agent to delegate additional amounts up to $10,000 for Departments who have received training and are buying from existing competitively procured price agreements. It is the intention to require many of these purchases to be made using the purchasing card which allows additional reporting and security. Examples of items include allowing department technology representatives to buy approved equipment from established computer price agreements. Bid Threshold from $30,000 to $60,000 Raising the bid threshold to $60,000 over the last 21 months would have resulted in a reduction of 13.8% or 28 bids which could have been processed without a formal process. These products and services will still be competitively procured but with a more streamlined process. Miscellaneous Exception Limit from $100,000 to $200,000 Raising this limit would result in eliminating 1 to 3 weeks from the elapsed time to make the needed purchase. The purchasing agent would still perform the same due diligence to validate the purchase and document the files to the adequacy of the exception. In the previous 21 months, raising the miscellaneous exception limit would have resulted in 68%fewer exceptions being sent to the City Manager for approval and only result in two fewer exceptions needing Council approval. March 4, 2008 -5- Item No. 16 Public Notice of Auctions Chapter 23, Article IV. Public Property-Disposition of Property Adding the ability to use publicly-accessible electronic media such as the city web will make the process of disposing of surplus property more efficient. It will also reach a broader market with more detailed information than with the current advertising in print media. ATTACHMENTS 1. Chart of limits used by other agencies. 2. Council Finance Committee Minutes - February 11, 2008. ATTACHMENT 1 Other Agency Limits Agency E$50,000 Small Proposed Proposed t Purchase Bid Amount Small Purchase Denver $5,000Colorado 0 $5,000 $75,000 10% of bid S rin s limit $7,500State of CO $50,00 $5,000 Cwolllns $30,000 $ ;000 $60,000 $5,000 Westminster $30,000 1 $1,000 Englewood $25,000 $250 Loveland $25,000 $1 ,000 Larimer CounK $25,000 $5,000 Aurora $10,000 $2,500 Boulder $5,000 $5,000 ATTACHMENT 2 Council Finance Committee Minutes 02/11/08 10:30— 12:00 Council Members Doug Hutchinson, Ben Manvel, Kelly Ohlson Present: City Staff Present: Chuck Darin, John Voss., Jim O'Neill., Terri Bryant, Heather Shepherd, Mike Freeman Guests Present: John Conway, Scott Sliski, and Dan Berlin from Custom Blending; Matt Hogan from Sherman and Howard, LLC; John Knezovich, Fort Collins Regional Library District Approval of the minutes Ben Manvel made a motion to approve the minutes from the November 5d'and December 3rd meetings, and Kelly Ohlson seconded. Minutes were approved. Private activity bonds (this item will be going before City Council 2/19). Chuck Seest introduced Mat Hogan, Bond Counsel for the City, who gave an overview of private activity bonds and how they work. Private Activity Bonds are not an obligation of the City of Fort Collins. The City is a local issuer of a set allocation determined by the State of Colorado. The City's 2008 allocation is $5.5 million. Since small manufacturers have to meet specific criteria of the Federal Tax Code, Ben Manvel asked who would be liable if it was determined these criteria were not met. Matt Hogan responded that although the City had issued the bonds, Sherman & Howard acting as Bond Counsel would ultimately be held responsible. Dan Berlin from Custom Blending reviewed information on the company's background and their plans for expansion. • They have a 100%wind powered plant • The company is a silver member of Climate Wise • The company is a member of Fund Conservation International in Madagascar. • The new facility is intended for construction at the Harmony Tech. Park-- 34,000 sq. ft. • July I" is the goal for breaking ground on new building. Doug Hutchinson stated that he likes the fact that the City is able to assist with creating an environment where the business can succeed. Reserve Policies for City Funds (this item will be going before City Council 3/4/08) John Voss reviewed more information on City Reserves. The first discussion will focus only on Policy, and at a later meeting it will be brought back as a resolution which will include specific dollar amounts/numbers. Mike summarized by saying that the main reason for doing this is to have all the reserve polices all in one place, and easy to reference, etc. He also said that the productivity savings topic will be brought before Council sometime in the following months. There will be a proposal to Council on methods for use of spending or managing any money saved. Terry Bryant explained the equipment replacement idea(new capital outlay reserve policy). The goal of this is mainly to simplify the general reserve funds. Kelly asked if the City is in the same ball park as other `best practices' Cities across the county on this topic. Chuck said that the City has incorporated the GFOA recommendations on this point. Further detail will be given in the Agenda Item Summary on this topic as well. Revision of Purchasing Ordinances (this item will go before Council on 03/04) Jim O'Neill reviewed the proposed p-card revisions. With this new proposal,the dollar amounts would go from $2000 to $5000 for small purchases, and from $30,000 to $60,000 for formal bids. Jim stated that there has typically been a revision about every 10 years, and the spending limits have doubled each time. (The last revision was in 1996). Mike Freeman said that the main reason for these changes is to better utilize the City staff purchasing agents and their expertise on the more complex high dollar items. Darin Atteberry said he is supportive of it the changes as long as departments have the clear rules and are aware that there the City will routinely audit or check on the spending amounts, etc. Kelly Ohlson asked if a more frequent review of purchasing policies could be conducted by Council Members. He'd like to see a time line built in between three to five years instead of ten years. John Knezovich said he agrees with City's proposed changes to the purchasing policies. Other Business Next meeting is 02/25/08 Agenda ❑ Procurement Trends ❑ Dollar Limit Increases ❑ Exception Limit Increases ❑ Flexibility Enhancements ❑ Purchasing Transactions ❑ Questions for Council Finance Committee Procurement Trends Transformation Routine Routine Complex Repetitive Low-Value 110 Strategic Planning Complex and Planning Analysis Adni4 etc Adinim etc 2 1 Procurement Trends ❑ Shift from processing transactions to value - added supply chain management ; ❑ Recognition of limited resources — concentrate resources where you add greatest value ; ❑ Delegate routine low value , low risk transactions to departments ; 3 Procurement Trends ❑ Manage supplier relationships and high value , high risk contracts , ❑ Leverage technology to enable new procurement strategies ; and ❑ Move from Reactive 4 Proactive . 4 2 DOLLAR LIMIT INCREASES SMALL $200 $ 55000 PURCHASE FORMAL $ 309000 $ 609000 BID/RFP 5 AFFECT OF RAISING SMALL PURCHASE LIMIT Type of Small Number Dollar Amount Average Purchase Purchase Mini Orders @ $2,000 13,103 $4,3917867 $ 335.18 limit Additional Mini Orders 889 $298905556 $3,251 @ $5,000 limit Purchasing 33,724 $459087924 $ 145.56 Card Purchases Total 47,716 $12,191 ,347 $ 255.50 2007 IMPACT FROM $ 9 M TO $ 12M 6 3 EXCEPTION LIMIT INCREASES APPROVER 1990- 1996 1997-2007 2008 PROPOSED Director of $19000 — $29000 — $59000 — Purchasing and $159000 $309000 $609000 Risk Mgt. CITY MANAGER $15,000 — $30,000 — $609000 — APPROVAL $49,999 $999999 $1999999 COUNCIL $509000 $ 100,000 $2009000 APPROVAL 7 OTHER AGENCY LIMITS Agency Bid Amount Small Purchase Proposed Proposed Denver $50,000 $52000 Colorado Springs $505000 $52000 $753000 10% of bid limit (in 2008) ($71500) State of CO $507000 $5,000 Fort Collins $307000 $2,000 $603000 $53000 Westminster $309000 $12000 Loveland $259000 $12000 Larimer County $255000 $52000 Aurora $105000 $22500 4 FLEXIBILITY ENHANCEMENTS ❑ DEFINITIONS UPDATED Alternative Delivery Methods Design Build Design/Select/Build ❑ COOPERATIVE BUYING OPPORTUNITIES INCREASED ❑ ELECTRONIC ADVERTISING OF SURPLUS SALES/AUCTIONS 9 All City purchase transactions — including Mini Orders and PCard All City Transactions Mini Orders and Pcard by Dollar Range Iran:acaorr. S ':aloeZ m 0% IY4 _roe 3roe 4C% 60% 60% 7C?e F% »roe 1003i p <$5 ,000 ■ > $5,000 and < $200.000 ■ > $200 ,000 and c 1 ,000,000 ■ > $11000,000 ❑ Table on next slide . 10 5 All City purchase transactions — including Mini Orders and PCard Purchase Order Value Total $ Value Transactions $ Value Transactions <$5,000 $1291913347 479716 11 .4% 96.8% > $5,000 and < $200,000 3699833933 19477 34.7% 3.0% > $200,000 and < 190003000 2696673404 72 25.0% 0. 1 % > $190009000 30y6363754 13 28.8% 0.0% 11 Purchase Transactions excluding PCards All City Transactions Mini Orders and Pcard by Dollar Range iran:ariom. 5 '•:alu� Die ID% 20% 30% 4C% 50% 602.a l'?e 9C% 90% 100% o <$5,000 ■ > $5,0130 and < $2002000 0 > $200,000 and <= 10000,000 0 > $11000,000 ❑ Table on Next Slide 12 6 Purchase Transactions excluding PCards Purchase Order Value Total $ Value Transactions $ Value Transactions Avg. Value <$5,000 $7,282,423 13,992 7.2% 90.0% $520 > $5,000 and < $200,000 36,983,933 1 ,477 36.4% 9.5% 25,040 > $200,000 and <1 ,000,000 26,667,404 72 26.3% 0.5% 370,381 > $12000,000 30,636,754 13 30.2% 0.1 % 21356,673 13 FINANCE COMMITTEE ❑ DO YOU AGREE WITH THE PROPOSED DOLLAR LIMITS ? ❑ OTHER COMMENTS ? ❑ SCHEDULED FOR COUNCIL ACTION MARCH 4 AND MARCH 18 14 7 ORDINANCE NO . 026 , 2008 OF THE COUNCIL OF THE CITY OF FORT COLLINS AMENDING CHAPTERS 8 AND 23 OF THE CODE OF THE CITY OF FORT COLLINS TO UPDATE MISCELLANEOUS PROVISIONS REGARDING PURCHASING AND PERSONAL PROPERTY WHEREAS , the Charter of the City of Fort Collins contains certain general provisions concerning purchasing practices in Article V, Part IV; and WHEREAS , the Code of the City of Fort Collins contains particular methods forbidding and awarding contracts for the construction of improvements, and for the procurement of services and materials in Chapter 8 , Article IV, and for the disposition of obsolete or surplus property in Chapter 23 , Article IV; and WHEREAS , the portion of the Code that deals with purchasing was last modified by Ordinance No. 144, 1996; and WHEREAS , staff has reviewed the Code for the last eighteen months and identified and discussed various issues related to the Article of Chapter 8 dealing with purchasing and the article of Chapter 23 dealing with disposition of personal property; and WHEREAS , staff has made recommendations to the City Council regarding these issues that would increase flexibility and raise dollar thresholds; and WHEREAS , City Council has determined that the amendments described in this Ordinance are in the best interests of the City and its citizens . NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows : Section 1 . That Section 8- 112 of the Code of the City of Fort Collins is amended to add the following definitions : Alternative delivery method process shall mean a process of construction using either the construction manager process, design/buildprocess, or design/select/build process. Construction manager process shall mean the process of entering into a contract for the design and construction of a project together with a contract with a business organization having the expertise and resources to help manage the design and construction of the project and establish a guaranteed maximum price for the project. Design/build process shall mean a process for managing a construction project in which a primary or main contractor submits a combined proposal to provide the design and construction services for the entire construction project. Design/select/build process shall mean a process for managing a construction project in which the design and construction of the project are contracted for separately but the designer and construction contractor work with the City as part of an integrated team for the design and construction of the project. Pricing agreement shall mean an agreement by which procurements are conducted by or on behalf of more than one governmental body. Work order shall mean a written order defining a discrete service and/or material with a definite project, price, and time of completion which is used in conjunction with a work order contract to create an enforceable contract. Work order contract shall mean a master contract for completion of a project or provision of services or materials on an as-needed basis establishing all terms and conditions requested by the City except those contained in the work orders to be issued pursuant to the work order contract. Section 2 . That Section 8 - 113 of the Code of the City of Fort Collins is amended as follows : Sec . 8- 113 . Authority and duties of Purchasing Agent. (a) The Purchasing Agent shall serve as the public purchasing official for the City, and shall be responsible for the procurement of all materials, services, professional services and construction for the City which are governed by the terms of this Article . (b) firtless otherwise provided in this Atficfc , the Prrchasing Agent ma establish purchasing procedures c "I I�!) I k'�p L, %�I I 'L W Ith this Article upon the wrftte The Purchasing Agent may formulate and promulgate rules and regulations for the administration of this Article, not inconsistent with the provisions of this Article, with respect to purchasing procedures . Any rules and regulations promulgated by the Purchasing Agent hereunder shall be effective upon the Purchasing Agent's filing of the same with the City Clerk. Section 3 . That Section 8- 158 of the Code of the City of Fort Collins is amended as follows : -2- Sec. 8-158. Competitive sealed proposals. (a) Procurements for the following are eligible for award by competitive sealed proposals : ( 1 ) FarTnMaterials and services when the Purchasing Agent determines in writing that the use of competitive sealed bidding is either not practicable or not advantageous to the City; and (2) Ft"Professional services; and (3 ) City limprovements when the Purchasing Agent determines that the use of alternative delivery methods will provide substantial benefit to the City while retaining sufficient competitive pricing and/or performance. Section 4 . That Section 8- 161 of the Code of the City of Fort Collins is amended as follows : Sec. 8-161 . Exemptions to use of competitive bid or proposal. (a) Minor purchases. ( 1 ) The Purchasing Agent shall have the power to negotiate without formal competition for the purchase of any materials, professional services, services or construction not exceeding a cost of thirty thousand dollars ($30,0"sixty thousand dollars ($60,000 . ) per year of contract. Where a project has been previously bid, project managers may approve, pursuant to administrative guidelines approved by the Purchasing Agent, change orders up to the minor purchase limit established in this Subsection; provided, however, that no such change order shall authorize any expenditure of funds in excess of the amounts budgeted and appropriated for the project. (3 ) The purchasing procedures adopted pursuant to § 8- 113 of this Article may authorize the purchase of materials, services or professional services in the open market by other departments or agencies of the City, provided that no such purchase shall exceed two thonsmid dollars five thousand dollars ($ 5 ,000 . ) except that the Purchasing Agent may authorize the procurement of materials and services in an amount not to exceed ten thousand dollars ($ 10,000 . ) per procurement when purchased pursuant to a pricing agreement approved by the Purchasing Agent and purchased by -3 - an employee of the City authorized by the Purchasing Agent to make such purchases . (4) No contmdprocurement will be divided so as to constitute a minor purchase under this Subsection. (b) Emergency purchases. (3 ) A full written report of the circumstances of all emergency purchases over two hundred thousand dollars ($200 ,000 .) shall be made by the City Manager to the City Council. The report shall be received by the City Council in an open meeting, and such report shall be open to public inspection. (c) Construction change orders. ( 1 ) Notwithstanding the provisions of Paragraph (a)( 1 ) of this Section, one ( 1 ) or more change orders to an existing construction contract may be executed without competition unless the cumulative amount of such change orders exceeds the greater of: a. Fifteen ( 15 ) percent of the original contract amount; or b . Sixty thousand dollars ($60,000 .) . (d) Miscellaneous exemptions. (3 ) The City Manager shall submit all procurements under this Subsection (d) which are equal to or exceed a cost of one hundred thousand dollars ($f66,666 .)two hundred thousand dollars ($200,000 .) to the City Council in an open meeting for final approval. (e) Purchase of utility services. (ef) Materials, certain services and construction competitively bid within twenty-four (24) months. In any case where the City has, within the preceding twenty-four (24) months, pursuant to an invitation for bids, awarded a contract for the procurement of any materials or for the procurement of services, professional services or construction bid on a unit price basis, the Purchasing Agent may -4- negotiate with the successful bidder for the purchase of additional quantities of the materials or units of services or construction. The Purchasing Agent may, based upon a reasonably prudent investigation of market conditions at the time, make procurements at a price warranted by such conditions, even if the resulting cost to the City is greater than the amount of the previous award. Section 5 . That Section 8- 162 of the Code of the City of Fort Collins is amended as follows : Sec. 8-162. Bid and performance bonds. (b) All contracts for construction the cost of which exceed the sum of fifty thousand dollars one hundred thousand dollars ($ 100 ,000 .) shall require a performance bond or other equivalent security. Section 6 . That Section 8 - 165 of the Code of the City of Fort Collins is amended as follows : Sec. 8-165. Cooperative procurement plans. The Purchasing Agent shall have the authority to join with other units of government in cooperative procurement plans, including but not limited to the State of Colorado and the Multiple Assembly of Procurement Officials, when the best interests of the City would be served thereby. Upon written approval by the Purchasing Agent, Ecompetitive sealed bids, competitive sealed proposals or pricing agreements received by any other governmental agency shall be the equivalent of bids or proposals received by the City and may be the basis for any procurement by the City. Section 7 . That Division 4, Article III of Section 8 of the Code of the City of Fort Collins is hereby amended by the addition of a new Section 8 - 185 which reads in its entirety as follows : Sec. 8- 185. City Attorney review. All written contracts shall be on forms previously approved by the City Attorney and any changes or additions shall be approved by the City Attorney. Section 8 . That Section 23 - 129 of the Code of the City of Fort Collins is hereby amended to read as follows : - 5 - Sec. 23 - 129. Disposition of perishable or hazardous property. (a) If any property seized or otherwise obtained by the City is of a perishable nature or of such nature as to make it inadvisable in the opinion of the Chief of Police to retain possession, such property shall be forthwith advertised for sale at public auction with public notice to be published in a newspaper of general circulation throughout the City or shall be advertised via electronic media not less than three (3 ) days prior to such sale, which notice shall contain the date, time and place of such sale and the reason for the immediate sale . At the discretion of the Purchasing Agent, such public sale or auction may also take place via means of electronic media. (d) For purposes of this Division, electronic media shall mean the Internet, the City website, or other widely available resource on the World Wide Web . Section 9 . That Section 23 - 130 of the Code of the City of Fort Collins is hereby amended to read as follows : Sec. 23-130. Disposition of lost, abandoned or other unclaimed property. Except as otherwise specifically provided for by law or ordinance, any property seized or otherwise obtained by the City and not sold or destroyed as perishable, hazardous or illegal property and which property has not been claimed by or surrendered to the rightful owner may be disposed of in the following manner: (2) After the expiration of such period of time and as soon thereafter as is practicable, the purchasing agent must cause to be published once in a newspaper of general circulation in the City, or advertise via electronic media, a general description of the articles of property to be disposed of, which notice must contain the following information: (3 ) If within ten ( 10) days from the publication of the notice, no claim for such property described in the notice shall have been made by the rightful owner, such property shall become the property of the City and shall be disposed of in the following manner: c . All other property shall be sold at public auction including an auction via electronic media in the manner and upon the terms described in the above notice, with the proceeds of any such sale or sales to be paid to -6- the Financial Officer to be placed in the general fund of the City after deducting the cost of storage, advertising and selling. Introduced, considered favorably on first reading, and ordered published this 4th day of March, A.D . 2008 , and to be presented for final passage on the 18th day of March, A.D . 2008 , Mayor ATTEST : City Clerk Passed and adopted on final reading on the 18th day of March, A . D . 2008 . Mayor ATTEST : City Clerk -7-