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(1) The finance officer shall maintain a record of property sold at foreclosure sales.

(2) If the city purchases the property by bidding therefor in accordance with section 2.542(7) or 7.225(2), payment consists of debiting and crediting the appropriate city accounts, and the city takes title to the property free of all liens for which the property is sold.

(Section 2.543 added by Ordinance No. 18179, enacted May 8, 1978.)