CHAPTER 10:02:01
PUBLIC PROPERTY
Section
10:02:01:01 Public personal property requiring inventory.
10:02:01:02 Appraisal of property prior to sale.
10:02:01:03 Manner of sale of property -- Notice.
10:02:01:04 Sale of surplus property to political subdivisions -- No notice or advertisement for bid required.
10:02:01:05 Disposition of money received from sale.
10:02:01:06 Conveyance of property.
10:02:01:07 Sale of property for which no bids are received.
10:02:01:01. Public personal property requiring inventory. Public personal property requiring inventory is any tangible item other than money, credits, accounts, securities, or real property that is movable, has an expected useful life exceeding one year, and has an initial purchase cost in excess of $5,000.
Source: 2 SDR 80, effective June 6, 1976; 12 SDR 86, effective November 27, 1985; 21 SDR 144, effective January 25, 1995; 26 SDR 89, effective January 6, 2000.
General Authority: SDCL 1-14-12(1), 5-24-1, 5-24-1.1.
Law Implemented: SDCL 1-14-12(7), 3-1-5, 5-24-1, 5-24-1.1.
10:02:01:02. Appraisal of property prior to sale.
Sections 10:02:01:02 to 10:02:01:07, inclusive, only apply to property
purchased by the Department of Transportation. The sale of all real property,
except property acquired for highway right-of-way purposes, and personal
property and trade fixtures purchased in connection with, or incidental to, the
acquisition of highway rights-of-way may be made only after the value of the
real property, personal property, and trade fixtures have been appraised by the
secretary of the Department of Transportation.
Source:
4 SDR 21, effective October 13, 1977; 6 SDR 106, effective May 11, 1980; 7 SDR
89, effective March 31, 1981; 33 SDR 107, effective December 26, 2006.
General
Authority: SDCL 1-14-12(4), 1-14-13, 31-2-27.
Law
Implemented: SDCL 31-2-27.
10:02:01:03. Manner of sale of property -- Notice. The property described in § 10:02:01:02 shall be sold only for cash either by offer at public auction or through sealed bids. The sealed bids or final offer shall be in writing. The final offer or the bid which is accepted shall be filed in the Department of Transportation in Pierre. Before any sale is made, except sales to other agencies, departments, or political subdivisions of the state, the Department of Transportation shall publish notice of the sale in three newspapers of general circulation in the state most likely to provide notice to interested persons once each week for the two successive weeks just before the day on or after which the sale is to be made. The notice shall state the day on or after which the sale is to be made and the location where the auction will be held or the place where sealed bids will be received. The day stated shall be at least 15 days after the first publication of notice. The right to reject any bid is reserved. The sale may not be made before the day set and shall be made within 60 days after the day set. However, any sale made pursuant to § 10:02:01:07 is not restricted to the 60-day limit.
Source: 4 SDR 21, effective October 13, 1977; 7 SDR 89, effective March 31, 1981; 39 SDR 203, effective June 10, 2013.
General Authority: SDCL 31-2-27.
Law Implemented: SDCL 31-2-27.
10:02:01:04. Sale of surplus property to political subdivisions -- No notice or advertisement for bid required. The Department of Transportation may make sales of property as set forth in § 10:02:01:03 to other state agencies, departments, or political subdivisions. Such sales shall not require notice or advertisement for bid requirements or time of sale requirements.
Source: 4 SDR 21, effective October 13, 1977.
General Authority: SDCL 31-2-27.
Law Implemented: SDCL 31-2-27.
10:02:01:05. Disposition of money received from sale. The money received from sales shall be deposited by the Department of Transportation with the state treasurer and credited to the state highway fund.
Source: 4 SDR 21, effective October 13, 1977.
General Authority: SDCL 31-2-27.
Law Implemented: SDCL 31-2-27.
10:02:01:06. Conveyance of property. On the approval of
the sale of any real property by the State Transportation Commission, the
conveyance of the property shall be made in the name of the state of South
Dakota acting by and through the Department of Transportation and executed by
the secretary of transportation.
On approval of the sale of personal
property and trade fixtures by the secretary of the Department of
Transportation, the conveyance of such property shall be made in the name of
the state of South Dakota acting by and through the Department of
Transportation by bill of sale or title certificate executed by the secretary
of transportation.
Source:
4 SDR 21, effective October 13, 1977; 6 SDR 106, effective May 11, 1980; 33 SDR
107, effective December 26, 2006.
General
Authority: SDCL 1-14-12(4), 1-14-13, 31-2-27.
Law
Implemented: SDCL 31-2-27.
10:02:01:07. Sale of property for which no bids are received.
The secretary of the Department of Transportation may sell at private sale
through negotiation without further advertising property appraised and offered
for sale pursuant to §§ 10:02:01:02 and 10:02:01:03 for which no sealed
bid or offer at public auction was received which equaled the appraised value.
Subject to the approval of the State Transportation Commission, property
appraised at $2,500 or less may be sold for not less than 50 percent of the
appraised value and property appraised at more than $2,500 may be sold for not
less than 80 percent of the appraised value.
Source:
7 SDR 89, effective March 31, 1981; 33 SDR 107, effective December 26, 2006.
General
Authority: SDCL 31-2-27.
Law
Implemented: SDCL 31-2-27.
