Advertisement And Notice

(1) Public auctions, Internet auctions, and sales under sealed bid, as provided in the rules of this chapter, shall be publicly advertised and publicly held. Notice of intended disposal by public auction or sale under sealed bid shall be entered by the Commissioner in at least one (1) newspaper of general circulation in the county or counties in which the disposal is to be made. Such notice shall specify and reasonably describe the property to be disposed of, the date, time, place, manner, and condition of disposal, all as previously determined by the Commissioner in accordance with the rules of this chapter. The advertisement for public auctions and sales under sealed bid shall be entered in the public notice or equivalent section of the newspaper and shall run not less than one (1) day in the case of a daily paper nor less than once in the case of a weekly paper. Disposal shall not be made sooner than seven (7) days after the last day of publication nor later than fifteen (15) days after the last day of publication of the required notice excluding Saturdays, Sundays, and holidays. Prominent notice shall also be conspicuously posted for ten (10) days prior to the date of disposal, excluding Saturdays, Sundays, and holidays, in at least two (2) public places in the county or counties where the disposal is to be made. Furthermore, notice shall be sent to the County Court Clerk of each county of the state, and such notice shall be posted in each county courthouse, except where the fair market value of all the property to be sold is determined in writing by the Commissioner or his designee to be less than $500.00. Notice of intended disposal by Internet auction shall be posted on the Internet, and shall reasonably describe the property to be disposed of, the date, time, place, manner, and condition of disposal, all as previously determined by the Commissioner in accordance with the rules of this chapter. The Internet auction shall not run less than seven (7) days. (2) A mailing list shall be developed for mailing to eligible governmental entities and potential buyers of specialized surplus items. (3) A mailing list, to which any person, firm, or corporation may subscribe, may be developed and maintained for notifying subscribers of surplus property to be sold at public auction and sales. A reasonable annual subscription fee shall be established by the Commissioner of General Services and approved by the Commissioner of Finance and Administration. The fee shall be used to defray the cost of maintenance of the subscription list and notifications sent to subscribers. A notice containing pertinent information relative to each public auction and sale shall be mailed to all subscribers. (4) No person, firm, or corporation shall be notified of any public auction or sale except as provided by the rules of this chapter.