Contracts for purchases within the limits fixed by the Board of Trustees may be negotiated on behalf of the Board of Trusteed by the president, vice president for business and finance, or the purchasing officer. Requests for competitive bids may be advertised in a newspaper of general circulation. The director of purchasing will have the responsibility to determine a fair market value and establish the appropriate minimum selling price. The Accounting Department will verify the original purchase. Property control will be notified at this time for inventory purposes.
Departments have first priority.
In the case of multiple prospective buyers, the sealed bid procedure will be enforced. The Purchasing Department may require that items offered for sale be moved to a Central Stores location during the course of the sale. Sealed bids will be accepted on the sale items and opened by the property control individual at a predetermined date and time. The director of purchasing will determine the buyer and the College reserves the right to reject any or all bids. These funds will be credited to the department's equipment expense category.