Section 12-2-421 - Purchases of property at public auctions - Reporting(a) Notwithstanding the requirements of its charter, or any other law, any municipality or county may purchase at any publicly advertised auction new or secondhand articles or equipment or other materials, supplies, commodities and equipment without public advertisement and competitive bidding. The governing body shall establish written procedures governing purchases at publicly advertised auctions.(b) If a municipality or county purchases any materials, supplies, commodities or equipment at a publicly advertised auction pursuant to subsection (a), then the purchasing official shall report the following information to the governing body of the municipality or county making such purchase: (1) A description of the materials, supplies, commodities or equipment that was purchased;(2) The auction where such items were purchased;(3) The purchase price of such items; and(4) The vendor of such materials, supplies, commodities or equipment. Acts 1994, ch. 795, §§ 1, 2; T.C.A. § 12-3-1006.