Section 12-2-206 - Rejection of bids - Readvertisement

Any and all bids received by the chief procurement officer for any of the property to be sold hereunder may be rejected by the chief procurement officer, and the property may be readvertised for sale when, in the opinion of the chief procurement officer, no bid had been received commensurate with the fair market value of the property offered for sale.Acts 1959, ch. 303, § 2; impl. am. Acts 1961, ch. 97, § 5; T.C.A., § 12-224; Acts 2011, ch. 295, § 9(e).