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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 40. The University of Alaska, the Community Colleges, and the Alaska Aerospace Development Corporation
- Section 941. Disposal of Surplus Property.
previous: Section 940
. [Renumbered as AS 14.43.410
next: Section 945
. [Renumbered as AS 14.43.415
AS 14.40.941. Disposal of Surplus Property.
- (a) The corporation may convey real or personal property that it determines is in excess of its needs. Except as provided
in (b) of this section, the sale shall be by public auction or by sealed bids. Public notice shall be given by
publishing notice of the sale at least once a week for two consecutive weeks in a newspaper of general circulation
within the area in which the property to be sold is located and by posting notice of sale in at least two public places
in the area. In no event may the auction be held less than 30 days after the last day of publication. If an acceptable
bid is not received, the corporation may sell the property at negotiated sale within six months after the date of the
auction. A negotiated sale may not be made on an appraisal made more than nine months before the date of sale. The
price at a negotiated sale may not be less than the appraised value.
- (b) Real or personal property of the corporation may be conveyed to a state or federal agency or political subdivision or
the University of Alaska for less than the appraised value without competitive bidding, upon a determination by the
board that the terms are fair and proper and in the best interests of the state. The board shall consider both the
nature of the agency's or political subdivision's public services or functions and the terms under which the property
was acquired by the corporation.
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