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A <br />2 <br />➢ A negotiated offer is established between the County and the prospective buyers <br />and presented to the Board of Commissioners for acceptance. <br />➢ If the Board proposes to accept the offer, it shall require the prospective buyer to <br />deposit with the County a bid bond equal to five percent (5 %) of the <br />offered /negotiated price. <br />➢ The offer is published in a "newspaper of general circulation" and upset bids are <br />invited. <br />➢ If an upset bid is submitted within 10 days and exceeds the original negotiated <br />price by at least 10% then the advertisement process begins again until the upset <br />bid solicitation ceases to draw upset bids. <br />➢ The Board would be advised of the accepted terms and conditions of sale, the <br />Board would approve the sale and closing documents would be drawn up to reflect <br />the sale. The County would be divested of the property. <br />RECOMMENDATION(S): The Manager recommends that the Board declare the <br />subject property as surplus and authorize the Manager or his designee to begin <br />negotiations to sell the property. <br />