§ 15-6-417 — Assessments; property held in trust; sale thereof; procedure; notice

(a) Any city or town, at any time after the period of
redemption has expired and deeds have been issued to the city or
town by virtue of any proceedings under this chapter, may sell
any such property at public auction to the highest bidder for
cash. No bid may be accepted for any amount less than the
amount set forth in the deed, plus accrued interest to date of
sale, computed on the assessment for which the property was sold
from the date of the execution of the deed, and all delinquent
assessments and taxes against the property with accrued
interest, penalties, costs and other charges. The city or town
shall pay into the fund for which the property was held in trust
an amount necessary to fully cancel the assessment for which the
property was sold, together with all interest thereon.
(b) Any such sale shall be conducted only after notice
describing the property has been given and stating that the city
treasurer, on the day specified, will sell the property at the
front door of the building in which the governing body holds its
sessions, between the hours of 10:00 a.m. and 4:00 p.m., and
continue the sale from day to day, or withdraw the property from
sale after the first day if he deems that the interests of the
city or town so require. The notice shall be published at least
five (5) times in a daily newspaper published within the city or
town, or if there is none, then at least twice in any newspaper
of general circulation in the county. At least fifteen (15) days
shall elapse between the date of the last publication of the
notice and the day the property is sold.