Except as may be limited by the terms and conditions of any grant, loan or agreement authorized by Section 61-3-25, an authority may, by sale, lease or otherwise, dispose of any airport, air navigation facility or other property, real or personal, or portion thereof or interest therein, acquired pursuant to this chapter. In the event that Section 29-1-1 is applicable to a sale of real property, such sale shall comply with Section 29-1-1. Otherwise, such disposal by sale, lease or otherwise, shall be in accordance with the following procedure: The authority shall find and determine by resolution duly and lawfully adopted and spread upon its minutes (a) that the property is no longer needed for authority purposes and is not to be used in the authority's operation; (b) that there is no state agency, board, commission or any governing authority within the state that has expressed a need or use for the property and the federal government has not expressed a need or use for the property; and (c) that the use of the property for the purpose for which it is to be sold, leased or otherwise disposed of will promote and foster the development and improvement of the authority or of the community in which it is located and the civic, social, educational, cultural, moral, economic or industrial welfare thereof. The authority, after having made such determinations, may proceed to sell, lease or otherwise dispose of the subject property in accordance with applicable law and by any of the following methods:
(a) The authority may sell, lease or otherwise dispose of the subject property as long as the consideration therefor is not less than the fair market price for such property as determined by averaging the appraisals of two (2) professional property appraisers selected by the authority and approved by the purchaser or lessee. Appraisal fees shall be shared equally by the authority and the purchaser or lessee.
(b) The authority may sell, lease or otherwise dispose of the subject property to the highest bidder after publishing at least once each week for three (3) consecutive weeks in a public newspaper published in the county in which the property is located, or if no newspaper be published as such, then in a newspaper having general circulation therein, the authority's intention to lease, sell or otherwise dispose of, as the case may be, the subject property and to accept sealed competitive bids for the sale, lease or disposal thereof. The authority shall thereafter accept bids for the sale, lease or disposal of the subject property and shall award the sale, lease or disposal to the highest bidder.
(c) The authority may sell and dispose of personal property at public sale for cash to the highest bidder after publishing at least once each week for three (3) consecutive weeks in a public newspaper published in the county in which the property is located, or if no newspaper be published as such, then in a newspaper having general circulation therein, the authority's intention to sell and dispose of the personal property at public sale for cash. Any such public sale for cash may be conducted by or on behalf of the authority. At such public sale for cash, the personal property shall be sold and disposed of to the highest bidder.
Notwithstanding anything herein to the contrary, in the case of a sale, lease or disposal of property to another authority, a municipality or an agency of the state or federal government for use and operation as a public airport, the sale, lease or other disposal thereof may be effected in such manner and upon such terms as the commissioners of the authority may deem to be in the best interest of civil aviation.
Sources: Codes, 1942, § 7545-39; Laws, 1958, ch. 230, § 9; Laws, 1984, ch. 370; Laws, 1992, ch. 379, § 7; Laws, 1993, ch. 615, § 14; Laws, 1996, ch. 404, § 4, eff from and after July 1, 1996.
Except as may be limited by the terms and conditions of any grant, loan or agreement authorized by Section 61-3-25, an authority may, by sale, lease or otherwise, dispose of any airport, air navigation facility or other property, real or personal, or portion thereof or interest therein, acquired pursuant to this chapter. In the event that Section 29-1-1 is applicable to a sale of real property, such sale shall comply with Section 29-1-1. Otherwise, such disposal by sale, lease or otherwise, shall be in accordance with the following procedure: The authority shall find and determine by resolution duly and lawfully adopted and spread upon its minutes (a) that the property is no longer needed for authority purposes and is not to be used in the authority's operation; (b) that there is no state agency, board, commission or any governing authority within the state that has expressed a need or use for the property and the federal government has not expressed a need or use for the property; and (c) that the use of the property for the purpose for which it is to be sold, leased or otherwise disposed of will promote and foster the development and improvement of the authority or of the community in which it is located and the civic, social, educational, cultural, moral, economic or industrial welfare thereof. The authority, after having made such determinations, may proceed to sell, lease or otherwise dispose of the subject property in accordance with applicable law and by any of the following methods:
(a) The authority may sell, lease or otherwise dispose of the subject property as long as the consideration therefor is not less than the fair market price for such property as determined by averaging the appraisals of two (2) professional property appraisers selected by the authority and approved by the purchaser or lessee. Appraisal fees shall be shared equally by the authority and the purchaser or lessee.
(b) The authority may sell, lease or otherwise dispose of the subject property to the highest bidder after publishing at least once each week for three (3) consecutive weeks in a public newspaper published in the county in which the property is located, or if no newspaper be published as such, then in a newspaper having general circulation therein, the authority's intention to lease, sell or otherwise dispose of, as the case may be, the subject property and to accept sealed competitive bids for the sale, lease or disposal thereof. The authority shall thereafter accept bids for the sale, lease or disposal of the subject property and shall award the sale, lease or disposal to the highest bidder.
(c) The authority may sell and dispose of personal property at public sale for cash to the highest bidder after publishing at least once each week for three (3) consecutive weeks in a public newspaper published in the county in which the property is located, or if no newspaper be published as such, then in a newspaper having general circulation therein, the authority's intention to sell and dispose of the personal property at public sale for cash. Any such public sale for cash may be conducted by or on behalf of the authority. At such public sale for cash, the personal property shall be sold and disposed of to the highest bidder.
Notwithstanding anything herein to the contrary, in the case of a sale, lease or disposal of property to another authority, a municipality or an agency of the state or federal government for use and operation as a public airport, the sale, lease or other disposal thereof may be effected in such manner and upon such terms as the commissioners of the authority may deem to be in the best interest of civil aviation.
Sources: Codes, 1942, § 7545-39; Laws, 1958, ch. 230, § 9; Laws, 1984, ch. 370; Laws, 1992, ch. 379, § 7; Laws, 1993, ch. 615, § 14; Laws, 1996, ch. 404, § 4, eff from and after July 1, 1996.
Except as may be limited by the terms and conditions of any grant, loan or agreement authorized by Section 61-3-25, an authority may, by sale, lease or otherwise, dispose of any airport, air navigation facility or other property, real or personal, or portion thereof or interest therein, acquired pursuant to this chapter. In the event that Section 29-1-1 is applicable to a sale of real property, such sale shall comply with Section 29-1-1. Otherwise, such disposal by sale, lease or otherwise, shall be in accordance with the following procedure: The authority shall find and determine by resolution duly and lawfully adopted and spread upon its minutes (a) that the property is no longer needed for authority purposes and is not to be used in the authority's operation; (b) that there is no state agency, board, commission or any governing authority within the state that has expressed a need or use for the property and the federal government has not expressed a need or use for the property; and (c) that the use of the property for the purpose for which it is to be sold, leased or otherwise disposed of will promote and foster the development and improvement of the authority or of the community in which it is located and the civic, social, educational, cultural, moral, economic or industrial welfare thereof. The authority, after having made such determinations, may proceed to sell, lease or otherwise dispose of the subject property in accordance with applicable law and by any of the following methods:
(a) The authority may sell, lease or otherwise dispose of the subject property as long as the consideration therefor is not less than the fair market price for such property as determined by averaging the appraisals of two (2) professional property appraisers selected by the authority and approved by the purchaser or lessee. Appraisal fees shall be shared equally by the authority and the purchaser or lessee.
(b) The authority may sell, lease or otherwise dispose of the subject property to the highest bidder after publishing at least once each week for three (3) consecutive weeks in a public newspaper published in the county in which the property is located, or if no newspaper be published as such, then in a newspaper having general circulation therein, the authority's intention to lease, sell or otherwise dispose of, as the case may be, the subject property and to accept sealed competitive bids for the sale, lease or disposal thereof. The authority shall thereafter accept bids for the sale, lease or disposal of the subject property and shall award the sale, lease or disposal to the highest bidder.
(c) The authority may sell and dispose of personal property at public sale for cash to the highest bidder after publishing at least once each week for three (3) consecutive weeks in a public newspaper published in the county in which the property is located, or if no newspaper be published as such, then in a newspaper having general circulation therein, the authority's intention to sell and dispose of the personal property at public sale for cash. Any such public sale for cash may be conducted by or on behalf of the authority. At such public sale for cash, the personal property shall be sold and disposed of to the highest bidder.
Notwithstanding anything herein to the contrary, in the case of a sale, lease or disposal of property to another authority, a municipality or an agency of the state or federal government for use and operation as a public airport, the sale, lease or other disposal thereof may be effected in such manner and upon such terms as the commissioners of the authority may deem to be in the best interest of civil aviation.
Sources: Codes, 1942, § 7545-39; Laws, 1958, ch. 230, § 9; Laws, 1984, ch. 370; Laws, 1992, ch. 379, § 7; Laws, 1993, ch. 615, § 14; Laws, 1996, ch. 404, § 4, eff from and after July 1, 1996.
