Section 4-110. School lands; sale of, at auction

The board of estimate is
  authorized,  upon  the  application  of  the  board  of  education  duly
  authorized and certified, to sell at public auction at such times and on
  such  terms  as they may deem most advantageous for the public interest,
  any land or lands and the buildings thereon, owned by the city, occupied
  or reserved for school purposes, and no  longer  required  therefor.  No
  property, however, shall be disposed of for a less sum than the same may
  be  appraised  by  the  board  of  estimate, or a majority of them, at a
  meeting to be held and on an appraisement made within two  months  prior
  to  the  date  of  the  sale.  At least thirty days notice of such sale,
  including a description of the property to be sold, shall  be  published
  in the City Record.