130th Ohio General Assembly
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As Introduced

123rd General Assembly
Regular Session
1999-2000
H. B. No. 235

REPRESENTATIVE PERZ


A BILL
To authorize the Director of Administrative Services to offer for sale at public auction certain state-owned real estate located in Lucas County.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:


Section 1. The Governor is hereby authorized to execute a deed in the name of the State conveying to the purchaser determined under procedures prescribed in this act, and the purchaser's successors and assigns or heirs and assigns, all of the state's right, title, and interest in the following described real estate:

Situate in the State of Ohio, Lucas County, City of Toledo, being those lands conveyed to the State of Ohio by Order of the United States Bankruptcy Court, Central District of California, Case Number SB-93-22207-DN, of record in Official Record 93 0524 D09, having been transferred to said State of Ohio by Deed of Record in Official Record 98 531 A10, Recorder's Office, Lucas County, Ohio, being located at 5109 Tractor Road, Toledo, Ohio, and being more particularly described as follows:

Premises at Tractor and Laskey Roads, described as all of Lots 13, 14, 15, 16 and 17 and the North 150 feet of Lots 1 and 2, excepting therefrom said Lots 1 and 2 the West 60 feet thereof, in C.V. Beck Industrial Addition in the City of Toledo, Lucas County, Ohio.


Section 2. (A) Not later than ninety days after the effective date of this act, the Director of Administrative Services, based upon the director's most recently approved appraised value of the real estate, shall offer the property for sale at public auction. The public auction shall be held on the real estate described in Section 1 of this act. The director shall advertise the auction in a newspaper of general circulation in Lucas County once a week for three consecutive weeks immediately prior to the date of the auction. The real estate shall be sold at the public auction to the highest acceptable bidder and shall be subject to the minimum acceptable bid of not less than $70,000. The director shall not accept any bid below $70,000 and may reject any and all bids.

(B) The successful bidder shall pay ten per cent of the purchase price in cash, by bank draft, or by certified check at the time of sale, and shall pay the balance of the purchase price within sixty days of the date of the sale. If the purchaser does not complete the conditions of the sale as specified in this division, the director may void the sale by giving the defaulting purchaser written notice to that effect. If the director voids the sale, the part of the purchase price paid at the time of the sale shall be forfeited to the state as liquidated damages.

(C) If no acceptable bids are received, or if the purchase is not completed and the sale is voided, the director shall sell the real estate to the second highest acceptable bidder at the public auction held pursuant to this section.


Section 3. The real estate described in Section 1 of this act shall be sold as an entire tract and not in parcels.


Section 4. The Department of Commerce shall pay the advertising costs, appraisal fees, and other costs incurred in connection with the sale of the real estate described in Section 1 of this act.


Section 5. Upon payment of ten per cent of the purchase price, the Auditor of State, with the assistance of the Attorney General, shall prepare a deed to the real estate described in Section 1 of this act. The deed shall be executed by the Governor in the name of the State, countersigned by the Secretary of State, sealed with the Great Seal of the State, presented in the Office of the Auditor of State for recording, and delivered to the purchaser upon payment by the purchaser of the balance of the purchase price. The purchaser shall present the deed for recording in the Office of the Lucas County Recorder.


Section 6. The net proceeds of the sale of the real estate described in Section 1 of this act shall be deposited in the State Treasury to the credit of the State Fire Marshal's Fund created in section 3737.71 of the Revised Code.


Section 7. This act expires one year after its effective date.
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