Louisiana HB515 allows political subdivisions to sell adjudicated property valued under $50,000 directly to buyers without public bidding.
Louisiana HB515 amends existing law to allow political subdivisions to sell adjudicated property with an appraised value under $50,000 directly to a buyer at a fixed price without public bidding. The sale price must be established by resolution or ordinance of the governing authority. This change provides an alternative to the current requirement of selling such property at a public sale to the highest bidder.
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