A. For the purpose of carrying out the provisions of this section a board of appraisal is created and established. Said board of appraisal shall consist of the city manager, city assessor and city tax collector. The board of appraisal shall have the power and authority to determine and establish, and, when necessary, to redetermine and reestablish, the minimum selling price of all properties acquired by the city through sales by the tax collector to the city for delinquent taxes and/or delinquent public improvements assessments when the deed to the city has been filed with the county recorder of the county as provided in Section 3.28.390. The board of appraisal shall formulate rules and regulations governing the appraisal of properties deeded to the city under such sales, not in conflict with the provisions of Sections 3.28.005 through 3.28.645.

B. The board of appraisal shall meet, determine and establish the minimum selling price on each separate piece or parcel of property at the time owned by the city, by reason of sales to the city for delinquent taxes and/or delinquent public improvement assessments. Thereafter the board of appraisal shall meet as many times as may be necessary for the purpose of redetermining and reestablishing minimum selling prices on properties and for determining and establishing minimum selling prices on properties not already determined and established. Two members of said board of appraisal shall constitute a quorum to transact business and no minimum selling price shall be determined and established or redetermined and reestablished without the consent and approval of at least two members of said board of appraisal.

C. When the minimum selling price has been determined and established on any piece or parcel of property by the board of appraisal the tax collector shall be immediately furnished with a written notification of such action. A copy of said notification shall also be furnished the city auditor. (Prior code § 6.04.1180)