(a) The State Highway Commission is authorized to sell in the manner provided by § 27-67-321 real or personal property, or an interest in real or personal property, which has been declared by commission resolution to be surplus and for sale.
(b) (1) The owner from whom the property was acquired or his or her heirs, successors, or assigns shall be notified:
(A) In writing at their last known address; or
(B) (i) By publication in one (1) newspaper in the county where the property is located one (1) time per week for three (3) consecutive weeks; or
(ii) If no newspaper is published in the county, then publication shall be made by posting written or printed notices in a conspicuous location in the county courthouse for three (3) consecutive weeks.
(2) Within sixty (60) days after written notice or first publication the owner from whom the property was acquired or his or her heirs, successors, or assigns shall have the option to purchase the property.
(3) If the option to purchase under this section is not exercised within sixty (60) days of written notice or first publication, the commission may proceed to dispose of the property at public sale.
(c) (1) When an entire right-of-way parcel is declared surplus, it may be reacquired under this option by refunding the price for which it was acquired by the State Highway Commission.
(2) When only a remnant or portion of the original acquisition is declared surplus by the commission it may be reacquired at its market value at the time it is declared surplus.
(3) The market value shall be determined by three (3) appraisers certified or licensed under § 17-14-101 et seq.
(d) (1) When real property originally acquired by the State Highway Commission has been improved by the State Highway Commission with offices, shops, storage yards, or other necessary or auxiliary facilities and the real property is later declared surplus, the real property may be reacquired at the market value of the real property and all improvements at the time the real property and improvements are declared surplus.
(2) The market value of the real property and improvements shall be determined by three (3) appraisers certified or licensed pursuant to § 17-14-101 et seq.
(e) When any real or personal property acquired for state highway purposes is either sold or returned to the owner from whom it was acquired and the price paid is refunded, any county that participated in the cost of the acquisition of the property shall share in the amount obtained from the sale, or the amount refunded, in the proportion in which it shared in the cost of acquisition.
(f) (1) The transfer of surplus rail and other railroad track material purchased in part with federal transportation enhancement funds and granted to the State Parks, Recreation, and Travel Commission or the Department of Parks and Tourism, or both, by the State Highway Commission shall not be subject to the procedures set forth in subsections (a)-(e) of this section.
(2) Surplus rail and other track material described under this subsection may be transferred by gift or contract to a regional intermodal facilities authority, a metropolitan port authority, or a planning and development district.
(3) The purposes of this section shall be satisfied upon:
(A) The adoption of a resolution by the State Highway Commission that the transfer will promote the continuation of rail service, economic development, or industrial growth; and
(B) A transfer document executed by the State Parks, Recreation, and Travel Commission or the Department of Parks and Tourism, or both.
Section: Previous 27-67-310 27-67-311 27-67-312 27-67-313 27-67-314 27-67-315 27-67-316 27-67-317 27-67-318 27-67-319 27-67-320 27-67-321 27-67-322 27-67-323 NextLast modified: November 15, 2016