13.14. Disposal of Surplus Property

1. The Manager of Purchasing, or its designee, is authorized to dispose of surplus equipment and materials to the highest bidder, subject to the following:
   
   
   1. Items valued at $50,000 or less, in aggregate may be offered, subject only to subsequent reporting to the Board.
      
      
   2. Disposal of items valued in excess of $50,000 in aggregate requires prior Board of Control approval.
      
      
   3. Items may be disposed of to a governmental agency or other educational institution at fair market value prior to offering on a bid basis with the approval of the Treasurer.
   
   
2. The Manager of Purchasing, or its designee, upon the recommendation of the Supervisor of Property and Equipment, is authorized to sell as scrap or junk, or discard at a University or any public dumping ground, those items which are obsolete or unusable if such items clearly have insufficient value to warrant an effort to dispose of them on a bid basis. Disposal of all scrapped or junked equipment and materials shall be reported to the Board of Control subsequent to its disposal.
   
   
3. The Manager of Purchasing, or its designee, is authorized to sell, on first come-first served basis, surplus equipment and materials which are impractical to dispose of on a bid basis, without prior Board of Control approval, subject only to subsequent reporting to the Board and receipt of a price believed in good faith by the Manager of Purchasing to be the reasonable market value thereof.