HomeMy WebLinkAboutRES-2024-050-Resolution Authorizing Upset Bid Process for 0.2‐acre plot, PIN #9863668263 RES - 2024 - 050 ' q ` 1 CA ! ' b Attachment 3
Resolution Authorizing Upset Bid Process for 0 . 2 - acre plot , PIN #9863668263 ,
Hillsborough , NC
WHEREAS , Orange County owns certain property, 0 . 2 acres of land located at PIN
# 9863668263 , Hillsborough , NC . ; and
WHEREAS , North Carolina General Statue 160A- 269 permits the County to sell property by
upset bid , after receipt of an offer for the property; and
WHEREAS , Orange County has received an offer to purchase the property described above ,
in the amount of $ 5 , 000 submitted by Mr . Thomas Darling and Ms . Anthea Darling ; and
WHEREAS the offerors have paid the required five percent ( 5 % ) deposit on the offer ,
THEREFORE , we , the Orange County Board of County Commissioners resolve that .
1 . The Orange County Board of County Commissioners authorizes the sale of the
property described above through the upset bid procedure of North Carolina General
Statute 160A - 269 .
2 . The Orange County Purchasing Agent shall cause a notice of the proposed sale to be
published . The notice shall describe the property and the amount of the offer , and
shall state the terms under which the offer may be upset .
3 . Persons wishing to upset the offer that has been received shall submit a sealed bid
with their offer to the office of the Purchasing Agent , located at 131 West Margaret
Lane , Hillsborough , NC , within 10 days after the notice of sale is published . At the
conclusion of the ten - day period , the Purchasing Agent shall open the bids , if any,
and the highest such bid will become the new offer . If there is more than one bid in
the highest amount , the first such bid received will become the new offer .
4 . If a qualifying higher bid is received , the Purchasing Agent shall cause a new notice
of the upset bid to be published and shall continue to do so until a 10—day period has
passed without any qualifying upset bids having been received . At that time , the
amount of the final high bid shall be reported to the Orange County Board of County
Commissioners .
5 . A qualifying higher bid is one that raises the existing offer by not less than ten percent
( 10 % ) of the first $ 1 , 000 of that offer and five percent ( 5 % ) of the remainder of that
offer .
6 . A qualifying higher bid must also be accompanied by a deposit in the amount of five
percent ( 5 % ) of the bid ; the deposit may be made in cash , cashier ' s check, or
certified check . The Countywill return the deposit on any bid not accepted , and will
return the deposit on an offer subject to upset if a qualifying higher bid is received .
The Countywill return the deposit of the final high bidder at closing .
7 . The terms of the final sale are that :
The County must approve the final high offer before the sale is closed , which it
will do within 30 days after the final upset bid period has passed , and
The buyer must pay with cash at the time of the closing .
8 . The County reserves the right to withdraw the property from sale at any time before
the final high bid is accepted and the right to reject at anytime all bids .
9 . If no qualifying upset bid is received after the initial public notice , the offer set forth
above is hereby accepted . The County Manager is authorized to execute the
instruments necessary to convey the property to Mr . Darling and Ms . Darling .
This , the 17t" day of September, 2024 .
J ezett Bedford , Cha
Orange County Board of Commissioners