Section 80IAC10-2-1. Procedures and authorized methods of disposal

   (a) The executive director shall make a finding that property is surplus to the needs of the commission.

  (b) Real property that is held in trust by the commission may only be transferred as set forth in IC 15-13-4-3.

  (c) One (1) or more of the following methods may be used either singularly or in combination for the disposal of property owned by the commission:

(1) Transfer to another governmental entity.

(2) Competitive sealed bid.

(3) Public sale or auction.

(4) Sale for reclamation or recycling.

(5) Allowance made on another purchase.

(6) Worthless property may be donated to:

(A) a charitable corporation;

(B) an educational entity or a school corporation (as defined by IC 36-1-2-17); or

(C) nonpublic schools (as defined in IC 20-18-2-12).

(7) Worthless personal property with no intrinsic value or worth may be thrown away.

  (d) Regardless of the selected method of disposal, detailed listings of property to be disposed of shall be maintained within the files of the commission.

  (e) The proceeds derived from any of the selected methods of disposal shall be directly deposited in the general operating fund of the commission. The commission may further designate:

(1) a specific fund under the general operating fund to which proceeds may be deposited; and

(2) the types of expenditures of proceeds from the specified fund.

  (f) Disposal of commission property shall be in accordance with this rule.

  (g) The disposal of property owned by the commission may be subject to the applicable state gross retail tax as outlined in IC 6-2.5-2. (State Fair Commission; 80 IAC 10-2-1; filed Nov 7, 2016, 3:46 p.m.: 20161207-IR-080160210FRA)