Sale at public auction.
Gilbert Town Code § 2-397
in effectSec. 2-397. - Sale at public auction.
(a) Upon obtaining an order of escheatment authorizing sale of unclaimed property at a public auction, the town shall sell such property following town procedures for disposal of surplus property pursuant to section 2-363 of this Code, and the bidding and notice procedures set forth in A.R.S. § 9-402. Property shall be sold to the highest bidder for cash. Some or all of the property may be sold subject to a minimum bid, which shall be known in advance of bidding. Upon delivery to any purchaser of any property sold, the department shall execute to purchaser a certificate of sale.
(b) All property remaining unsold after being offered for sale may be deemed having no value and may be disposed of pursuant to subsection 2-396(1).
(c) Proceeds from the sale shall be given to the town finance director or his designee and deposited immediately into the general fund of the town.
(Ord. No. 1131, § I, 11-10-98; Ord. No. 1353, § I, 4-3-01)
Source: Town of Gilbert, Arizona, Town Code (Municode Library, library.municode.com)URL: https://library.municode.com/az/gilbert/codes/code_of_ordinances?nodeId=CO_CH2AD_ARTVDILOUNCOPR_S2-397SAPUAUFetched: 11/1/2026