Sec. 78-6Bidding by city at tax sales; disposition of property acquired

(a) If, during any sale of property for taxes and after the property has been offered a reasonable time, no one present at the sale bids an amount for the property being sold which is as much as the total of the taxes due (including any priority liens for taxes due the state, county, and school and other special tax districts of the state) plus the marshal's cost due on the sale, then the city manager or his/her designee, may purchase the property for the city. If the city purchases property at a sale, the marshal shall make to the city a deed to the property sold and shall deliver the deed to the city manager. The marshal shall put the city in possession of the property so sold.

(b) Property acquired by the city pursuant to a sale for taxes or assessments may be divested or alienated by the city only by public sale of the property to the highest bidder; however, when the city has not parted with title to the property, the city may quitclaim the property to the owner at the time of the tax sale, or to the owner's administrators, executors, heirs, or assigns, upon full payment of the redemption price provided in section 78-9 herein.

(c) The right of redemption in real property purchased by the city at a tax sale shall be foreclosed in the manner set forth in section 78-9 herein.