75-3345. Same; conditions of sale; disposition of proceeds.
270 words·~1 min read·
/ks/chapter-75/75-3345A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
75-3345. Same; conditions of sale; disposition of proceeds. The instruments of conveyance of the property authorized to be sold and conveyed in K.S.A. 75-3344 , and amendments thereto, shall be executed in the name of the state board of social welfare by its chairman and secretary. Before such sale shall be made, such board shall cause such property to be appraised by three disinterested appraisers, which appraisement shall be in writing and filed with the secretary of the board, and shall advertise for sealed bids thereon for not less than 30 days by publication in a newspaper of general circulation in Miami county, Kansas, and authorized by law to publish legal notices.
Such sale or sales shall be made to the highest responsible bidder, except that such board may reject any and all bids, and in any such case, new bids may be called for as in the first instance. Each bid shall be accompanied by a certified check in the amount of 5% of such bid which sum shall be forfeited in case of default by any bidder whose bid is accepted. In no event shall any of such property be sold for less than ¾ of the amount of the appraisement thereof. When any of such property shall be sold, the proceeds thereof, after deduction of the expenses of such sale or sales, shall be remitted to the state treasurer in accordance with the provisions of K.S.A. 75-4215 , and amendments thereto.
Upon receipt of each such remittance, the state treasurer shall deposit the entire amount in the state treasury to the credit of the state general fund.