Illinois Administrative Code
Title 44 - GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT
Part 5010 - MARKING, INVENTORY, TRANSFER AND DISPOSAL OF STATE-OWNED PERSONAL PROPERTY
Subpart I - ANTIQUE, HISTORICAL AND SPECIAL INTEREST PROPERTY
Section 5010.1300 - Property Value
Universal Citation: 44 IL Admin Code ยง 5010.1300
Current through Register Vol. 48, No. 38, September 20, 2024
a) Personal property that is at least 40 years old, has historic value, or is of special interest, culturally, scientifically or otherwise, is exempt from the normal methods of disposal described in the State Property Control Act and this Part.
b) The CMS Director will determine the final disposition of antiques and historical or special interest property.
1) When the Director of CMS ensures
that the criteria in subsection (a) are met, the following procedure for
disposal shall be used:
A) The Director will
attempt to loan or donate the property to public museums or
galleries.
B) Right of first
refusal shall be vested in the Illinois State Museum, and then to any other
public museum or publicly owned historic site in Illinois. If no museum in
Illinois desires the property, federal museums and historic sites will be given
the opportunity to claim the property.
C) Any display of the property shall
acknowledge the State's role in the loan or donation.
D) The property shall not later be sold or
transferred by the holding entity. Such sale or transfer will allow the State
to immediately reclaim the property.
E) Should no entity wish to receive the
property, the Director will dispose of it by negotiated sale. Minimum price
shall be the property's appraised value, as determined prior to the negotiated
sale, determined by a qualified appraiser, the appraiser's qualifications
having been evaluated and determined in accordance with prevailing industry
standards or practices.
2) The Director's choice shall be based on
the type of property, the geographical location of the institution requesting
the property, and the institution's ability to display the property.
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