Jerome Joint School District No. 261

SCHOOL FACILITIES 9100

Acquisition, Use and Disposal of School Property

Acquisition of Property:

Real Property: Within one year prior to purchasing or disposing of real property, the District shall cause such property to be appraised by an appraiser certified in the State of Idaho, which appraisal shall be entered in the records of the Board of Trustees and shall be used to establish the fair market value of the property. The appraisal, however, is exempt from disclosure to the public. If the Board is purchasing a site for educational purposes, the Board must determine the size of the site necessary for school purposes. The site shall be located within the boundaries of the city limits, unless, by resolution of the Board, it is determined that it would be in the best interest of the District to acquire a site outside city limits, but within the boundaries of the District.

Personal Property:

The District may purchase personal property as deemed necessary for the effective operation

of the District be any means deemed appropriate when the expenditure of funds will be less than fifty thousand

dollars ($50,000). When the purchase of personal property (with the exception of curricular materials) is

reasonably expected to cost fifty thousand dollars ($50,000) or more, the District shall comply with the statutory

bidding requirements (I.C. § 33-601).

Conveyance of Property:

Within one year prior to conveyance, all real and personal property with an estimated value of $1,000 or greater

shall be appraised, which appraisal shall be entered in the records of the Board.

$1,000 or Greater: For property with a value of $1,000 or greater, the property may be sold at public auction or by sealed bids, as the Board shall determine, to the highest bidder. Such property may be sold for cash or for such terms and conditions as the Board shall determine for a period not exceeding ten years, with the annual rate of interest on all deferred payments not less than 7% per annum. The title to all property sold on contract shall be retained in the name of the District until full payment has been made by the purchaser, and title to all property sold under a note and mortgage or deed of trust shall be transferred to the purchaser at the point of sale under the terms and conditions of the mortgage or deed of trust as the Board shall determine. Notice of the time and the conditions of such sale shall be published twice, and proof thereof made, in accordance with subsections (2) and (3) of section 33-402, Idaho Code. The Board may accept the highest bid, may reject any bid, or reject all bids. During the sealed bid or public auction process, no real property of the District can be sold for less than its appraised value. If, thereafter, no satisfactory bid is made and received, the Board may proceed under its own direction to sell and convey the property for the highest price the market will bear.

Less than $1,000: The Board may sell personal property, with an estimated value of less than $1,000, without appraisal, by sealed bid or at public auction, provided that there has been not less than one published advertisement prior to the sale of said property. When the appraised value of the property is less than $1,000, one single notice by publication shall be sufficient, and the property shall be sold by sealed bids or at public auction. The Board may accept the highest bid, may reject any bid, or reject all bids

Less than $500: For property that has an estimated value of less than $500, the property may be disposed of in the most cost-effective and expedient manner by an employee of the District empowered for that purpose by the

Board, provided however, such employee shall notify the Board prior to disposal of said property.

Donated Property:

If real property was donated to the District the Board may, within a period of one year from the time of the

appraisal, sell the property without additional advertising or bidding. Otherwise, the Board must have new

appraisals made and again publish notice for bids, as with other property.

Exchange of Property:

The Board may exchange real or personal property for other property provided that: (1) such property is appraised, (2) one-half (1/2) plus one (1) of the members of the FULL Board determine such conveyance/exchange in the best interest of the District; (3) and a resolution is passed authorizing such exchange of real and/or personal property to any of the following:

1. U.S. Government

2. City;

3. County;

4. State of Idaho;

5. Hospital District;

6. School District;

7. Library District;

8. Community College District;

9. Junior College District; or

10. Recreation District

Prior to any transfer or conveyance of any real or personal property as set forth above, the Board shall have the

property appraised by an appraiser certified in the state of Idaho, which appraisal shall be entered in the records

of the Board and shall be used to establish the value of the real or personal property. Provided however, if the

Board finds it is in the District's best interests to trade personal property to a person or entity for like kind personal property, the Board may vote to elect to do so. The Board may elect to abstain from an appraisal of the personal property if the estimated value of such property is less than $5,000.

Equipment Acquired Under a Federal Award:

When it is determined that original or replacement equipment, as defined in Policy 7270, acquired under a federal award is no longer needed for the original project or program or for other activities currently or previously supported by a federal awarding agency, the Superintendent or Business Manager will contact the awarding agency (or pass-through for a state-administered grant) for disposition instructions.

Generally, disposition of equipment is dependent on its fair market value (FMV) at the time of disposition. If the

item has a current FMV of $5,000 or less, it may be retained, sold, or otherwise disposed of with no further

obligation to the federal awarding agency. If the item has a current FMV of more than $5,000, the federal

awarding agency is entitled to the federal share of the current market value or sales proceeds.

If acquiring replacement equipment, the District may use the equipment to be replaced as a trade-in or sell the

property and use the proceeds to offset the cost of the replacement property.

The District will use whatever means available to ensure the highest possible return on any items sold.

Capital expenditures for special purpose equipment are allowable as direct costs, provided that items with a unit

cost of $5,000 or more have the prior written approval of the Federal awarding agency or pass-through entity.

Therefore, the District should request prior approval from the State Department of Education for the purchase or

the disposition of equipment purchased with federal funds that have a value of $5,000 or more.

Cross Reference: 2510P Selection of Library Materials

Legal Reference: 2 C.F.R § 200.313(e) Equipment. Disposal

2 CFR § 200.439(b)(2) Equipment and Other Capital Expenditures

I.C. § 33-402 Notice Requirements

I.C. § 33-601 Real and personal property –

Acquisition, use or disposal of same.

I.C. § 67-2801, et seq. Purchasing by Political Subdivisions

I.C. § 74-107(3) Records Exempt from Disclosure – Appraisals Trade

Secrets, Production Records, Appraisals, Bids,

Proprietary Information, Tax Commission, Unclaimed

Property, Petroleum Clean Water Trust Fund

Policy History:

Adopted on: 12/19/2006

Revised on: 08/28/2018

Revised on: 05/28/2019

Revised on: 01/26/2021