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City of Portland

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5.36.025 Purchase and Resale by the City of Tax Foreclosed Property.

(Added by Ordinance No. 162023; Amended by Ordinance Nos. 179813 and 181483, effective January 18, 2008.)

A.   The provisions of this Section apply to property which meets each of the following conditions:

1.   Property that has outstanding City liens;

2.  Property that has been foreclosed by a county for collection of delinquent taxes; and

3.  Property that has been purchased by a bidder at a county sheriff's sale.

B.  The OMF Business Operations Division may purchase and sell property described in this Section without public notice or sale provided:

1.  The Council adopts an ordinance authorizing the OMF Business Operations Division to purchase property.  The ordinance shall include a legal property description; the total amount of outstanding taxes and costs; the total amount of outstanding city liens, accrued interest, penalties and costs; and the source of funds to be used to purchase the property;

2.  Property will be sold to the successful bidder at a county sheriff's sale; and

3.   The Council adopts an ordinance authorizing the property sale and setting forth sale terms.  The ordinance shall include the name and address of the successful bidder at the county sheriff's sale and the terms of the City sale.  The Council may adopt sale terms and provisions as a part of the ordinance authorizing the purchase of property.

C.  Sale contracts and other legal documents related to the sale shall be reviewed and approved by the City Attorney prior to the sale.  Upon approval as to form by the City Attorney, the Mayor and City Auditor shall be authorized to sign a deed transferring title to the property.

D.  Proceeds from the sale shall be deposited in the City fund which incurred the expense of purchasing the property from the county unless otherwise directed by the Council in the ordinance authorizing the purchase and sale of the property.

E.  The OMF Business Operations Division is authorized to adopt administrative rules and procedures necessary to carry out the provisions of this Section.