§ 2-1. Sales of escheated lands.

(a)

Purpose. The purpose of this section is to establish the procedures and standards to sell and convey lands which have escheated to Levy County, Florida.

(b)

Procedures and standards.

(1)

The county shall annually conduct an auction of all lands that have escheated to the county.

(2)

The auction shall be conducted by appointed representatives of the county and the date of the auction shall be advertised in advance.

(3)

Each of the escheated parcels shall be offered for sale on a "bid basis" to all prospective purchasers.

(4)

The initial opening bid for each parcel shall be a minimum of $200.00.

(5)

Each successful bidder shall pay the full purchase price by cash or certified funds prior to the close of the auction.

(6)

If any successful bidder fails to pay the full purchase price by the close of the auction the second highest bidder shall be notified and have 24 hours within which to pay the full purchase price.

(Ord. No. 02-04, §§ 1, 2, 8-6-2002)