Vehicle Auction Information for August 2, 2008

Notice to the Public

Rules of the Auction

1.   Dates and Times to Examine the Vehicles:

Prospective buyers may examine, start engine, and operate accessories on auction vehicles only from 8:15 a.m. to 4:15 p.m. on Friday, August 1, 2008, and from 7:30 a.m. to 8:45 a.m. on Saturday, August 2, 2008. Over-revving of the engine on auction vehicles will not be tolerated.  Only those individuals age 18 or older with a full valid driver's license will be permitted to start engines and operate accessories of the auction vehicles.  Under no conditions will a vehicle be moved from its sale position by other than personnel authorized by the Fleet and Mail Bureau.

2.   Public Property

Individuals tampering with or pilfering public property are in violation of the Code of Iowa and violators will be subject to prosecution.

3.  Bid Numbers

You must register to bid. Bid numbers will be available Saturday, August 2, 2008, at the Fleet & Mail Bureau Garage. Registration times are 7:30 a.m. until the end of the sale.

YOU MUST BE 18 OR OLDER TO BID OR PURCHASE ITEMS AT THIS AUCTION.

4.  Bid Deposit

A bid deposit is not required until an individual is the successful bidder.  Then the bidder must make a $200.00 deposit (cash, traveler's check, postal money order, cashier's check, certified savings and loan check, certified credit union check, or certified bank check) for each vehicle purchased, made payable or endorsable to the State of Iowa.  (Exception: Political sub-divisions may use either a requisition or purchase order in lieu of a deposit).

NO PERSONAL OR COMPANY CHECKS WILL BE ACCEPTED FOR ANY $200.00 DEPOSIT OR FINAL SETTLEMENT, UNLESS ACCOMPANIED BY A LETTER FROM THE ISSUING FINANCIAL INSTITUTION GUARANTEEING THE AMOUNT OF THE CHECK.

5.  Bid Default

You are cautioned to bid only on those items you are prepared to pay for and remove in accordance with the terms and conditions of  the sale.  All items awarded to you as the high bidder are contractually yours and must be paid for and removed within the time period allowed by these rules.  The successful bidder agrees that in the event he fails to pay for the property or remove the same within the prescribed period of time, the State of Iowa, at its election and upon notice of default, shall be entitled to retain (or collect) as liquidated damages a sum equal to the greater of (a) 20% of the total purchase price of the vehicle(s) as to which the default has occurred or (b) $200.00 of the purchase price of the vehicles if the successful purchase price is less than $1,000.00.

6.   Settlement of Purchased Vehicles:

Final settlement may be made Saturday, August 2, 2008.   Final settlement must be completed by 3:30 p.m. Thursday, August 7, 2008.  Deposits may be forfeited if the balance due is not paid by the date stated above.

A penalty of $25.00 per workday per vehicle will be assessed beginning the close of business Thursday, August 7, 2008, for any final settlement still owed to the State of Iowa.  Payments must be received timely and in the terms specified in Item No. 3.  In the event that a final settlement is not concluded by August 15, 2008, deposit(s) held against vehicle(s) WILL BE FORFEITED to the State of Iowa.

7.  Vehicle Storage

Vehicles purchased at this auction may be stored on State of Iowa premises at no charge until the close of business Monday, August 11, 2008. Vehicle(s) remaining after this time and date will be assesed a $25.00 per calendar day storage fee that must be paid in full prior to release of vehicle(s) and title document(s).

8.  Title Transfer:

Title transfer is made at the time of final settlement.  The Fleet and Mail Bureau will furnish in-transit paper license plates to the successful bidder.  Requests for duplicate titles will be processed for a fee of $25.00 per title.

9.   Sales Taxes:

Iowa sales tax will not be collected at the auction.  Sales tax, where applicable, will be paid to the County Treasurer at the time of application for license.

10.   Guarantees and Warranties:

VEHICLES WILL BE SOLD AS IS, WITH NO GUARANTEES OR WARRANTIES, TO THE HIGHEST BIDDER.

11.   Office Hours:

The office will remain open August 2, 2008, one-half (1/2) hour after the last vehicle is sold.  Office hours for completing final settlement the following Monday through Thursday are from 8:30 a.m. to 3:30 p.m.

12.   Announcements:

Any announcements, corrections, revisions of vehicle descriptions or bid reservations stated by the Administrator of the Fleet and Mail Bureau and recorded over the public address system during the course of the sale shall take precedence of printed materials.

13.   Window Notations:

Any mechanical defects or disrepair conditions that are determined by or made aware to the Fleet and Mail Bureau are noted on the windshield of each vehicle.  Obvious damage such as, but not limited to, body dents or rust perforation, tire wear, cracked windshields, or exhaust system deterioration may or may not be noted.  Accident damage will be noted on the windshield if any single accident caused repairs in excess of $1,500.00 while the vehicle was owned and operated by the State of Iowa.

14.   Auction Listing/Catalog:

To see the list of vehicles for August 2, 2008, auction (includes the mileage, color, agency, etc.) Auction Listing/Catalog

15.   Auction Poster:
To see a list of vehicles and equipment (such as: A/C, PS, etc.) Auction Poster