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(a) Except for a revocable use permit approved under 11 AAC 39.705(a) , disposal of real property must be noticed to the public under 11 AAC 39.730.
(b) Following public notice under 11 AAC 39.730, real property must be disposed of using one or more of the following methods:
(1) competitive sealed bid;
(2) public auction;
(3) competitive proposals;
(4) competitive lease;
(5) competitive lease with option to purchase;
(6) other manner determined in writing by the board to be in the best interest of the state.
(c) Before disposal, the board will establish the terms and conditions for the disposal of property of the fund, including whether financing by installment contract will be available, minimum down payment, interest rate, minimum acceptable bid, and bid deposit.
(d) The board may dispose of property of the fund for cash or under an installment contract.
(e) The board will not grant cash discounts on the disposal of property of the fund.
(f) The board may require a bid deposit to be submitted with a bid. The successful bidder's deposit is non-refundable and will be applied to the purchase price. The bid deposit will be returned to any unsuccessful bidder.
(g) The balance of the purchase price for property of the fund is due within 90 days after the date that the offer has been accepted by the board.
(h) The board may consider a written request to extend the date of the balance due for reasonable cause shown.
(i) If the successful bidder fails to meet the terms and conditions of the sale, the board will cancel the award and the successful bidder will forfeit the bid deposit.
(j) Personal property that has a value greater than $1,000 and is not perishable must be noticed to the public under 11 AAC 39.730 and disposed of competitively.
(k) Personal property that has a value of less than $1,000 or that is perishable does not require notice under 11 AAC 39.730, but notice must be posted on the Alaska Online Public Notice System and posted at the division offices before disposal. The board may dispose of the property under this subsection in any manner determined reasonable by the board and consistent with AS 03.10.
History: Eff. 11/27/88, Register 108; am 10/27/2002, Register 164
Authority: AS 03.09.040
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Last modified 7/05/2006