Indiana Administrative Code
Title 80 - STATE FAIR COMMISSION
Article 10 - DISPOSAL OF PROPERTY
Rule 2 - Disposal of Real and Personal Property
Section 2-3 - Disposal of property by means of public sale or auction
Universal Citation: 80 IN Admin Code 2-3
Current through March 20, 2024
Authority: IC 15-13-2-9
Affected: IC 15-13-2
Sec. 3.
(a) The executive director, with approval of the commission, may direct that items for disposal may be disposed of through the public auction method.
(b) When property owned by the commission is to be disposed of utilizing this method, the following procedures will apply:
(1) A notice of proposed sale containing an
itemized list of property to be disposed of must be prepared and published in
at least one (1) newspaper of general circulation within Marion County,
Indiana. The executive director may direct publication of the itemized list in
additional newspapers as determined appropriate.
(2) The notice of proposed sale will be
published thirty (30) days prior to the date of the proposed sale. The notice
of proposed sale must include the following:
(A) Date and time of the proposed
sale.
(B) Location of the property
to be disposed of for inspection by the public.
(C) Location of the proposed sale, if
different from the location for public inspection.
(D) Itemized list of property to be disposed
of.
(E) Terms of the
sale.
(F) Name of auctioneer, as
appropriate.
(3) Award of
property shall be made to the highest bidder. Settlement and payment for
property disposed of shall be as specified in the terms of the sale, unless
otherwise approved by the commission or executive director.
(4) Settlements of disputes arising
concerning the property to be disposed of will be determined by the executive
director or his or her authorized designee and shall be final and
conclusive.
(5) Nothing in this
section shall be construed to prevent the designated auctioneer from
advertising the sale independently as a normal and regular course of doing
business. However, the auctioneer in posting such advertising shall include the
items in subdivision (2)(A) through (2)(F) within any such
advertisement.
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