What are the regulations for conducting a public auction in a municipality?

Public auctions are a common way of disposing of old or surplus items in a municipality, often bringing in needed funds or supplies. In Maryland, there are state regulations that need to be followed when conducting a public auction. The public auction must be authorized by an order of the local governing board. This board must approve the auction in advance, and may specify certain rules or restrictions. The notice of the auction must be advertised in any local newspaper, and any other form of communication such as flyers, radio, or television. The auction must be conducted by a properly certified auctioneer. All bids must be made openly and fairly, with bidders able to hear and observe all bids. The municipality must maintain records of all bidders and bids. All bids must be paid for in full on the same day as the auction. The item being auctioned must be clearly identified and described. If the item is sold to a bidder, the sale must be completed according to the conditions of the auction. If there is a dispute over who is the successful bidder, the municipality may re-auction the item. Overall, public auctions are a great way for a municipality to raise funds or acquire goods. But to conduct such an auction, it is important to be aware of Maryland’s regulations and follow them closely. This will help ensure that the auction is conducted in an open, fair, and accountable manner.

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What are the regulations for conducting a public auction in a municipality?

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