Oregon Revised Statutes Chapter 273 § 273.525 — Appraisal of forest products; notice; sale conditions

Appraisal of forest products; notice; sale conditions. (1) Before offering any forest products for sale under ORS 273.523, the Department of State Lands shall cause the forest products to be appraised in a manner that it considers appropriate. (2) Prior to sale of forest products with an appraised value greater than $25,000, notice thereof shall be given by the department for not less than four weeks by publication once each week in one or more newspapers of general circulation in the county in which such forest products are situated, and in such other manner as the department considers appropriate. The notice shall designate by legal subdivision the land having such forest products thereon, shall state the appraised value of such forest products and the minimum price at which the same may be sold and shall contain a brief statement of the terms of sale. No sale of forest products shall be made at less than the appraised value. (3) The forest products on one or any number of legal subdivisions may be offered and sold separately, or in one body, as the department considers appropriate. In cases in which notice has been given by publication and no satisfactory bid has been received, or in cases in which the bidder fails to complete the purchase, the department may, at any time during a period of six months after the advertised date of sale, sell the forest products in such manner as it considers appropriate, but the sale price shall not be less than the minimum terms offered in the notice of sale or the highest bid received, whichever is the larger amount. [Formerly 273.310; 1997 c.117 §4]