§ 53-6. Property acquired due to unpaid taxes.

(a)

Disposition of property acquired by tax deed. Whenever title to any real estate is conveyed to the City and County of Denver by tax deed or treasurer's tax deed, the board of equalization shall have the power to lease or to sell the same, whenever the mayor certifies in writing to said board that such real estate is not necessary or useful for municipal purposes. When such real estate is so leased, the same shall be leased for the highest rent obtainable, considering the condition and location of such real estate, in the discretion of the board, for a term not exceeding five years. At the board's discretion, such real estate may be offered for sale by public auction, or by sealed bids, reserving in the board the right and power to accept or reject any or all bids. Such real estate may only be sold by the board for cash. Prior to such sale, notice of sale shall be advertised in an official publication for a sufficient duration and number of times as the board determines is sufficient publication and in compliance with applicable laws. Sale shall be held at a location in the City and County of Denver as specified in said notice. When such real estate is so sold by the board, the mayor, upon written directions of the board, shall execute the deed thereto for and on behalf of said board and the City and County of Denver without covenants of title or warranties.

(b)

Sale of tax certificates. The board of equalization shall also have the power to sell and dispose of any and all tax certificates now held or owned by the City and County of Denver, issued for the cost of public improvements or general taxes.

(c)

Property sold for unpaid public improvement assessments; reinstatement by board. The board of equalization shall have the power to reinstate any and all property sold for public improvement assessments, where the tax certificates are held by the city and county upon the payment of all the installments that would have been due up to the time of the reinstatement, had the property not been sold, including accrued interest and cost of sale, and the owner shall thereupon be restored to the right thereafter to pay in installments in the same manner as if default had not been suffered. The City and County of Denver may thereafter sell the property for unpaid subsequent installments the same as if said sale had not been made. When there is a default in the payment of principal or interest of public improvement assessments, the whole shall become due and payable immediately, and the treasurer shall sell the same as provided by law, but the board of equalization may reinstate on part payment as above provided.

(Ord. No. 1013-02, § 4, 12-9-02)