RS 716 - Sale at public auction
If the governing authority decides to dispose of any of said property by sale at public auction, a minimum price shall be established by the governing authority and it may fix the conditions of the sale, which conditions may include the right to reject any or all bids and permission to pay for the property on either a cash or credit basis.
Acts 1968, No. 432, §5. Amended by Acts 1970, No. 648, §1; Acts 1972, No. 417, §1.