Government Code - GOV
TITLE 5. LOCAL AGENCIES [50001 - 57607]
( Title 5 added by Stats. 1949, Ch. 81. ) DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821]
( Division 2 added by Stats. 1949, Ch. 81. ) PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7]
( Part 1 added by Stats. 1949, Ch. 81. ) CHAPTER 4. Financial Affairs [53600 - 53997]
( Chapter 4 added by Stats. 1949, Ch. 81. ) ARTICLE 8. Delinquent Assessment Acquisition and Sales Law of 1915 [53860 - 53876]
( Article 8 added by Stats. 1949, Ch. 81. ) 53867.
If by resolution adopted by a four-fifths vote the legislative body determines that the property cannot be sold for a sum of money at least equal to the total of the amount paid, all accrued penalties and delinquencies, and necessary expenses incurred, the local agency may sell the property or lien for less than such total but not less than the fair market value of the property or lien as determined by the legislative body.
(Added by Stats. 1949, Ch. 81.)