(a) If the commissioner approves the declaration of property as surplus, the commissioner shall assign the property designated as surplus to one (1) of the four (4) methods of disposal set forth in this part, in accordance with regulations of the procurement commission. Such assignment and classification shall be duly recorded in writing with appropriate supporting documentation.

Terms Used In Tennessee Code 12-2-405

  • Commission: means the procurement commission. See Tennessee Code 12-2-402
  • Commissioner: means the commissioner of general services. See Tennessee Code 12-2-402
  • property: means every species of state property which is not either:
    (A) Real property, the disposal of which is subject to this title, governing the disposal of state real property. See Tennessee Code 12-2-402
  • surplus property: means that personal property which has been determined to be obsolete, outmoded, or no longer usable by the state and declared as such, by the commissioner or head of the releasing department or agency, in accordance with this part. See Tennessee Code 12-2-402
(b) In classifying surplus property for disposal, the following criteria shall be considered:

(1) The character, utility and functionality of the property;
(2) The economies of disposal in light of all relevant circumstances attendant the proposed disposal, including the condition and climate of the potential market and present estimated market value of the property, transportation costs, and other cost factors associated with disposal; and
(3) Sound fiscal and budgetary policy and practices.
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