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MARVIN MANDEL, Governor 3381
Treasurer, to be used for the construction,
reconstruction, maintenance and repair of the State's
system of roads and highways, in accordance with
appropriation thereof made by the General Assembly.
Article - Transportation
8-309.
(c) (1) As to land from a completed project, if
the administration considers the land to be large enough
and otherwise suitable for private use or development,
the Administration shall sell the land at public auction
as provided in this subsection.
(2) Before the sale:
(i) The Administration shall appraise
the land; and
(ii) If the Administration believes
that the land has a value of more than $5,000, the land
also shall be appraised by at least one independent,
qualified real estate appraiser,
(3) The Administration shall notify the
public of the sale by:
(i) Posting a notice of the sale on
the land at least 2 weeks before the sale; and
(ii) Publishing the notice for 2
consecutive weeks in a newspaper that is published or has
general circulation in the county in which the property
is located.
(4) The notice of the sale shall:
(i) Describe generally the property to
be sold;
(ii) State the date, time, and place of
the sale; and
(iii) Contain any other information that
the administration considers proper.
(5) The sale shall be held on or near the
land and may be conducted by administration personnel.
(6) At the conclusion of the sale, the
[Administration] ADMINISTRATION'S REPRESENTATIVE IN CHARGE
OF THE SALE shall announce publicly the name of the
highest bidder and the amount of the bid. IF THE HIGHEST
BID DOES NOT APPROXIMATE THE APPRAISED VALUE OF THE LAND,
THE REPRESENTATIVE MAY REJECT ALL BIDS AND CANCEL THE
SALE.
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