Section 80IAC10-2-3. Disposal of property by means of public sale or auction

   (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.

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