Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 14 - Alaska Energy Authority › Chapter 105 - Administrative and Other Provisions › Article 3 - Disposition of Assets › 3 AAC 105.400 - Disposition of property

Current through May 31, 2024
(a) The provisions
				  of 3 AAC 105.400 -
				  3 AAC 105.480 apply to the disposition of property by
				  the authority.
(b) The executive
				  director shall appoint a property officer of the authority who shall, subject
				  to executive director authorization, be responsible for the disposition of the
				  property of the authority.
(c) The
				  authority will, in its discretion, dispose of property owned or acquired by the
				  authority under terms approved by the executive director or the property
				  officer. A disposal under this section may be by sale, lease, exchange, or
				  other disposition.
(d) The
				  executive director or the property officer may contract with other state
				  agencies, project operators, real estate brokers, real estate agents, and other
				  consultants to dispose of property under this section.
(e) In disposing of property under this
				  section, the authority will take into consideration market conditions and will
				  attempt to dispose of the property for its fair market value except as provided
				  in 3 AAC 105.420. The determination of
				  fair market value of property for purposes of
				  3 AAC 105.400 -
				  3 AAC 105.480 is solely at the discretion of the
				  authority regardless of the result of an appraisal, if any, of the
				  property.
(f) The authority will
				  dispose of property under this section only in compliance with applicable laws
				  and only if the disposition is not prohibited under the terms of bond trustee
				  agreements or other contracts to which the authority is a party or is otherwise
				  bound. If the authority considers it necessary or desirable, the authority will
				  consult with the trustee for any outstanding bonds of the authority before
				  disposing of property under this section.
(g) The authority will dispose of property
				  under 3 AAC 105.400 -
				  3 AAC 105.480 by spot bids, competitive sealed bids,
				  public auction, or other disposition methods selected by the authority. If the
				  disposition of property is by competitive sealed bids, each bid must be
				  accompanied by a deposit, in the form of a money order or a certified or
				  cashier's check, in an amount equal to ten percent of the amount bid. In the
				  discretion of the authority, the bid deposit amount may be increased or
				  decreased for a disposal of property. The authority will apply the winning
				  bidder's deposit toward the purchase price of the property. After awarding the
				  bid and completing the sale or entering into a purchase contract with the
				  winning bidder, the authority will return the other bidders'
				  deposits.
(h) An employee of the
				  authority may not directly or indirectly purchase property of the authority if
				  the employee was directly or indirectly involved in the acquisition,
				  maintenance, preparation for sale, or disposal of the property.
(i) The authority will, in its discretion,
				  determine to dispose of property of the authority by giving the property to the
				  state. A disposal under this subsection is not subject to the other
				  requirements of this section.
Authority:
AS
						44.83.080