SCHOOL PROPERTIES DISPOSAL PROCEDURE
Real Estate Property:
Buildings and other district real properties no longer effectively utilized by the school district may be declared surplus by resolution of the Board at a regular meeting. Surplus property shall be disposed of in a manner that complies with all statutes and conforms to such terms and conditions as the Board deems to be in the best interest of the patrons of the school district. The funds generated from the sale of real estate property on which there is no bonded debt shall be credited to the general fund account, however, if bonded debt exist on the property sold, the sale proceeds all be credited to the debt retirement account. If the sale proceeds exceed the existing bonded debt including interest, on the property sold, the residual shall be credited to the general fund account. Administrative Implemental Procedures: - The Superintendent or designee will submit recommendations to the Board on what properties may be declared surplus.
- A public hearing shall be conducted at least ten days prior to a vote of the Board to solicit public comment.
- The advise and counsel of the Board's general counsel shall be sought regarding disposal of properties declared surplus.
- The Board shall declare, by resolution, which of
said properties are surplus.
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Qualified individuals shall then be employed to prepare an appraisal of the property(ies) according to the following critera: - One independent appraisal when a property value is estimated to be between $25,000 and $100,000; and
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Two independent appraisals if a property value is estimated to exceed $100,000. - The Board shall establish a minimum acceptable offer based on appraised fair market value.
- The Superintendent or designee shall then publish notice prior to the sale which shall identify the property to be sold, will specify the date and time at which the sale is to be held or by which bids are to be received, shall reserve the right to refuse all offers, and shall contain such terms and conditions attached to the transaction as the Board deems appropriate.
- Purchase offers which meet the established minimum shall be presented to the Board initially for consideration. A decision regarding the sale shall be made by the Board within two weeks at a regular or special meeting.
- Upon the Board's decision to sell the surplus property, the administration shall proceed with all necessary action to effect the sale of said property.
- Deeds of conveyance shall be signed by at least one Officer of the Board and the Superintendent.
Disposal of Surplus or Obsolete Materials, Supplies, or Equipment -
It shall be the policy of the Board to dispose of surplus or obsolete materials, supplies, or equipment no longer required to accomplish the purposes of the district. Disposal of such items shall be the responsibility of the Superintendent or designee after it is assured that they are no longer of any use to the district and after disposal is properly approved. All monies received from the sale of equipment or supplies shall be deposited in the general fund of the district. Leases of School Property -
The Board may negotiate the leasing of property owned by the district, not immediately needed for its purposes, for terms and conditions as allowable in provisions as defined in state statutes governing school district. {See Board Policy EBH - Leasing and Renting}. Such leases may contain an option to purchase, in which event the provisions of section "Real Estate Property" shall apply. |
