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be held and their bids remain active through the time period <br /> allowed for the delivery of funds and the conveyance of <br /> property, and should the most responsive and responsible <br /> bidder not perform, the next most responsive and responsible <br /> bidder shall be given an additional 30 days to deliver the full <br /> cash sales price; and <br /> d) The City Council reserves the right to reject any and all bids. It <br /> also reserves the right to waive any informalities in connection <br /> with said bids; and <br /> e) The City Council directs staff to market the properties; and <br /> f) Prior to closing, purchase and sale agreements detailing the <br /> terms of sale shall be submitted to the City Council for approval; <br /> Section 3: At the direction of City Staff, the City Clerk will publish a notice of <br /> intention to sell the property with the appropriate terms, time and <br /> place of sale. <br /> IMP" Introducing Resolution <br /> PASSED AND APPROVED this 24th day of May , 2006 <br /> Co, cil Preside <br />