Section 80IAC10-2-2. Disposal of property by means of competitive sealed bids

   (a) The executive director or the commission may direct that items for disposal may be disposed of through the competitive sealed bids 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 for the receipt of sealed competitive bids.

(B) Location of the property to be disposed of for inspection by potential bidders.

(C) Itemized list of property to be disposed of.

(D) Terms of the sale.

(E) Date and time of bid opening.

(3) Award of property shall be made to the highest competitive 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.

(State Fair Commission; 80 IAC 10-2-2; filed Nov 7, 2016, 3:46 p.m.: 20161207-IR-080160210FRA)