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Tennessee Code Title 12. Public Property, Printing and Contracts § 12-2-405

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) If the commissioner approves the declaration of property as surplus, the commissioner shall assign the property designated as surplus to one (1) of the four (4) methods of disposal set forth in this part, in accordance with regulations of the procurement commission. Such assignment and classification shall be duly recorded in writing with appropriate supporting documentation.

(b) In classifying surplus property for disposal, the following criteria shall be considered:

(1) The character, utility and functionality of the property;

(2) The economies of disposal in light of all relevant circumstances attendant the proposed disposal, including the condition and climate of the potential market and present estimated market value of the property, transportation costs, and other cost factors associated with disposal; and

(3) Sound fiscal and budgetary policy and practices.

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Cite this article: FindLaw.com - Tennessee Code Title 12. Public Property, Printing and Contracts § 12-2-405 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-12-public-property-printing-and-contracts/tn-code-sect-12-2-405/

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