Okla. Admin. Code § 260:95-3-7

Current through Vol. 42, No. 4, November 1, 2024

Section 260:95-3-7 - Disposal of surplus property by public auction or sealed bids

(a) If a surplus property is not suitable for transfer to another state agency or direct sale to a non-state public agency, and no conditions or factors exist making the surplus property appropriate for the Request for Proposals process, surplus property shall be disposed of through public auction or by sealed bid auction.

(b) Real Estate and Leasing Services will cause the notices of the public auction or request for sealed bids to be published in accordance with 61 OS § 327. Notices shall include the appraised value of the property.

(c) Real Estate and Leasing Services will advertise the sale of the property. Methods of advertising may include:

(1) Posting signs and banners;

(2) Conducting public viewings of the property;

(3) Publishing electronic notices or advertisements;

(4) Press releases;

(5) Social media;

(6) Listing the property on the Real Estate and Leasing Services web page;

(7) Listing the property on real estate industry listings;

(8) Listing the property on public listings, and

(9) Other methods of advertising as appropriate.

(d) If an award is made, the bid shall be awarded to the highest bidder; however, no bid shall be accepted for less than ninety percent (90%) of the appraised value of the property unless the property is being liquidated in accordance with 260:95-3-9. Real Estate and Leasing Services reserves the right to reject any and all bids.

(e) When a property is disposed of through sealed bid auction, the following process shall be followed:

(1) Sealed bid packets shall be available to potential bidders on the Real Estate and Leasing Services website and by request. The packets will include instructions for potential bidders.

(2) Bids must be in sealed envelope bearing the words 'Sealed Bid" and the notice number.

(3) Bids must include a check for ten percent (10%) of the bid price to serve as earnest money.

(4) Bids will be stamped in by Real Estate and Leasing Services with a date and time stamp.

(5) Bids may be modified or withdrawn until close of business on the closing date.

(6) Bids must be received by Real Estate and Leasing Services by close of business on the closing date or postmarked no later than the closing date to be considered. If postmarked by the closing date, bids must also be received by Real Estate and Leasing Services no later than the bid opening date and time. Late bids will not be considered and will be returned to the bidder unopened.

(7) Bids will be opened publicly by Real Estate and Leasing Services. The date, time and location of the bid opening will be in the bid packet and will be published on the Real Estate and Leasing Services website.

(8) Any changes to the solicitation or answers to any questions will be emailed to all parties on the interested party list and posted on the Real Estate and Leasing Services website.

(9) The Director of Real Estate and Leasing Services may waive minor deviations in the bid documents.

Okla. Admin. Code § 260:95-3-7

Adopted by Oklahoma Register, Volume 31, Issue 24, September 2, 2014, eff. 9/12/2014

Adopted by Oklahoma Register, Volume 35, Issue 24, September 4, 2018, eff. 9/14/2018