1. (a) The board shall establish a minimum price for real property of the fund before disposal. Factors that must be considered in establishing a minimum price include

   1. (1) the assessed, appraised, or market value;
   2. (2) the length of time that the fund has owned the property;
   3. (3) the length of time that the property has been on the market; and
   4. (4) the management costs of the property to the state.

2. (b) If the board uses an appraisal under (a) of this section to establish a minimum price,

   1. (1) the board will only accept an appraisal completed by an appraiser selected from the list of appraisers approved by the department; and
   2. (2) the appraisal must be less than two years old as of the date advertised in the public notice under 11 AAC 39.730 for the disposal.
3. (c) The board shall establish a minimum price for personal property before disposal. Factors that may be considered in establishing a minimum price include the appraised, surveyed, replacement, or market value of the personal property, and the cost of managing the property to the state.

(Eff. 11/27/88, Register 108; am 10/27/2002, Register 164)

Authority: AS 03.09.040, AS 03.10.020, AS 03.10.050