§ 5.12.320. Foreclosed lands for sale—Disposal procedure.

A.

Foreclosed properties not retained for public purpose shall be disposed of in accordance with the requirements of AS 29.45 and the following procedure:

1.

A copy of the notice of sale shall be sent by certified mail to the record owner at the time of the tax foreclosure. The mailed notice shall include advice to the record owner of his right to repurchase the property.

2.

The notice of sale shall be published in a newspaper(s) of general circulation in the borough no less than 30 days before the date of the sale and posted within that time in at least 3 public places in the borough.

3.

Disposal shall be at public outcry auction conducted by the director of finance, or his designee unless the assembly has provided otherwise in the ordinance authorizing the sale.

B.

Foreclosed lands sold under the provisions of this section are not subject to the classification procedures contained in KPB Chapter 17.10.

(Ord. No. 93-13, § 2(part), 1993; Ord. No. 74-52, § 1(part), 1974; Ord. No. 74-50, § 1(part), 1974; Ord. No. 31, § 1(part), 1967; KPC § 25.05.103(G))