Iowa Code § 75.3

Sealed and open bids
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Sealed bids may be received at any time prior to the calling for open bids, ifopen bids are providedfor in the notice of sale. After the sealedbids are all filed,the official or officialsshall call for open bids, ifopen bids are provided for in the notice of sale. After all of the open bids have been received the substance of the best open bid shall be noted in the minutes. If open bids are not permitted in the notice of sale, sealed bids may be received until it isannounced that all sealed bids shall be opened. The official or officials shall then open any sealed bids that have been filed and they shall note in the minutes the substance of the best sealed bid.

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