Section 505.1010 — Purchase of property at auction.
89 words·~1 min read·
/oh/title-5-townships/chapter-505-trustees/505-1010·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A board of township trustees may purchase real or personal property at public auction by adopting a resolution to designate an individual, officer, or employee to represent the board and tender bids at the auction. Any purchase made at a public auction shall be subject to a maximum purchase price established by resolution of the board or an appraisal obtained before the auction and approved by the board of township trustees. A purchase made under this section shall comply with division
(D)of section 5705.41 of the Revised Code.