§ 2897. Disposal of public authority property. 1. Supervision and\ndirection. Except as otherwise provided in this section, the contracting\nofficer designated by each public authority shall have supervision and\ndirection over the disposition of property of such public authority.\n 2. Custody and control. The custody and control of the property of a\npublic authority, pending its disposition, and the disposal of such\nproperty, shall be performed by the public authority in possession\nthereof or by the commissioner of general services when so authorized\nunder this section.\n 3. Method of disposition. Subject to section twenty-eight hundred\nninety-six of this title, any public authority may dispose of property\nfor not less than the fair market value of such property by sale,\nexchange, or transfer, for cash, credit, or other property, with or\nwithout warranty, and upon such other terms and conditions as the\ncontracting officer deems proper, and it may execute such documents for\nthe transfer of title or other interest in property and take such other\naction as it deems necessary or proper to dispose of such property under\nthe provisions of this section. Provided, however, that no disposition\nof real property, or any interest in real property, shall be made unless\nan appraisal of the value of such property has been made by an\nindependent appraiser and included in the record of the transaction,\nand, provided further, that no disposition of any other property, which\nbecause of its unique nature or the unique circumstances of the proposed\ntransaction is not readily valued by reference to an active market for\nsimilar property, shall be made without a similar appraisal.\n 4. Sales by the commissioner of general services. When it shall be\ndeemed advantageous to the state, any public authority may enter into an\nagreement with the commissioner of general services where under such\ncommissioner may dispose of property of such public authority under\nterms and conditions agreed to by the public authority and the\ncommissioner of general services. In disposing of any such property of a\npublic authority, the commissioner of general services shall be bound by\nthe terms of this title and references to the contracting officer shall\nbe deemed to refer to such commissioner.\n 5. Validity of deed, bill of sale, lease, or other instrument. A deed,\nbill of sale, lease, or other instrument executed by or on behalf of any\npublic authority, purporting to transfer title or any other interest in\nproperty of a public authority under this title shall be conclusive\nevidence of compliance with the provisions of this title insofar as\nconcerns title or other interest of any bona fide grantee or transferee\nwho has given valuable consideration for such title or other interest\nand has not received actual or constructive notice of lack of such\ncompliance prior to the closing.\n 6. Bids for disposal; advertising; procedure; disposal by negotiation;\nexplanatory statement. a. All disposals or contracts for disposal of\nproperty of a public authority made or authorized by the contracting\nofficer shall be made after publicly advertising for bids except as\nprovided in paragraphs c and f of this subdivision.\n b. Whenever public advertising for bids is required under paragraph a\nof this subdivision:\n (i) the advertisement for bids shall be made at such time prior to the\ndisposal or contract, through such methods, and on such terms and\nconditions as shall permit full and free competition consistent with the\nvalue and nature of the property;\n (ii) all bids shall be publicly disclosed at the time and place stated\nin the advertisement; and\n (iii) the award shall be made with reasonable promptness by notice to\nthe responsible bidder whose bid, conforming to the invitation for bids,\nwill be most advantageous to the state, price and other factors\nconsidered; provided, that all bids may be rejected when it is in the\npublic int
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