Tenn. Comp. R. & Regs. 0690-02-01-.15 - ITEMS TO BE HELD FOR LOCAL SALE

(1) In instances when it is not economically feasible and fiscally sound to transport surplus property determined to have a salvage value to another location for sale, a local sale shall be held.

(a) The method of disposal to be utilized in local sales shall be determined as follows:

1. If enough surplus property is available to justify an "on-site" public auction, it shall be disposed of by such method.

2. If not enough surplus property is available to justify an "on-site" public auction, such property shall be sold under sealed bids, publicly advertised, opened, and recorded.

(b) Local sales by public auction and under sealed bids shall be advertised, and public notices shall be posted in accordance with provisions of rule 0690-2-1-.06 of this chapter.

Notes

Tenn. Comp. R. & Regs. 0690-02-01-.15

Original rule filed April 20, 1978, effective July 14, 1978.

Authority: T.C.A. §§12-235 through 12-248 and Public Acts of 1976, Chapter 821.