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The NNRHA shall:
• Maximize the value received from the disposition of surplus property.
• Comply with all applicable federal, state, and local regulations.
• Maintain adequate documentation supporting all dispositions.
• Remove disposed assets from the NNRHA's fixed asset records.
No NNRHA property may be sold, traded, donated, or otherwise disposed of without prior
approval from the Executive Director or designee.
Property shall not be sold for less than its documented fair market value unless specifically
approved by the Executive Director or designee for a public purpose authorized under this
policy.
IV. Conflict of Interest
To avoid actual or perceived conflicts of interest:
• NNRHA employees;
• Members of the Board of Commissioners;
• Immediate family members of employees or Commissioners; and
• Individuals acting on behalf of employees or Commissioners
are prohibited from purchasing, receiving, or otherwise acquiring surplus NNRHA property.
No NNRHA property may be donated or transferred to any employee, Board Commissioner, or
their immediate family members.
Any violation of this policy may result in disciplinary action, up to and including termination of
employment, and may subject Board Commissioners to appropriate Board action.
V. Acceptable Methods of Payment
Payments for the purchase of Authority property shall be made by:
• Cashier's check
• Certified check
• Money order
• Business or personal check payable to the Authority
Cash payments shall not be accepted.
VI. Annual Review of AssetsJump to an indexed page (141 of 141)