Or. Admin. Code § 734-035-0080

Current through Register Vol. 63, No. 10, October 1, 2024

Section 734-035-0080 - Appraisal of Surplus Property

(1) Before offering for sale any real property or equitable interest therein owned by the Department of Transportation, the Department shall cause the property to be appraised by one or more competent appraisers. All appraisals so obtained shall be reviewed in compliance with the Department's Right of Way Manual to insure accuracy and adequacy of the value reported for the real property.

(2) Said appraisal(s) and the appraisal review shall be used by the Department's Right of Way Manager to establish the asking price for the real property.

(3) Except as provided in OAR 734-035-0110, if an asking price in excess of $5,000 is established for any surplus property, the property shall not be sold to any private person until competitive bids have been requested by the Department.

Or. Admin. Code § 734-035-0080

HWY 9-1990, f. & cert. ef. 5-24-90

Publications: The publication(s) referred to or incorporated by reference in this rule are available from the agency.

Stat. Auth.: ORS 184 & ORS 366

Stats. Implemented: ORS 270.100