The department shall enter upon its records a confirmation of sale and issue to the purchaser a bill of sale for valuable materials if the following conditions have been met: (1) No fewer than ten days have passed since the auctioneer's report has been filed; (2) No affidavit is filed with the department showing that the interests of the state in the sale were injuriously affected by fraud or collusion; (3) It appears from the auctioneer's report that: (a) The sale was fairly conducted; and (b) The purchaser was the highest bidder and the bid was not less than the appraised value of the material sold; (4) The department is satisfied that the valuable material sold would not, upon being readvertised and offered for sale, sell for at least ten percent more than the price submitted by the apparent high bidder; (5) The payment required by law to be made at the time of making the sale has been made; and (6) The department determines the best interests of the state will be served by confirming the sale.
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