(2) The department may sell, lease, exchange or otherwise dispose of such real or personal property in such manner as, in the judgment of the department, will best serve the interests of the state and will most adequately conserve highway funds or the department’s account or fund for the real or personal property. In the case of real property, interest in or title to the same may be conveyed by deed or other instrument executed in the name of the state, by and through the department. All funds or money derived from the sale or lease of any such property shall be paid by the department to the State Treasurer with instructions to the State Treasurer to credit such funds or moneys:

(a) To the highway fund; or

(b) To the department’s account or fund for the property. The State Treasurer shall credit the funds and moneys so received as the department shall direct.

(3) Property described in subsection (1) of this section may be exchanged for other property or for services. As used in this subsection, "services" includes, but is not limited to, public improvements as defined in ORS 279A.010.

(4)(a) Before offering forest products for sale the department shall cause the forest products to be appraised.

(b) If the appraised value of the forest products exceeds $50,000, the department may not sell them to a private person, firm or corporation except after a public auction to receive competitive bids. Prior to a public auction, the department shall give notice of the auction not less than once a week for three consecutive weeks by publication in one or more newspapers of general circulation in the county in which the forest products are located and by any other means of communication that the department deems advisable. The department shall provide the minimum bid price and a brief statement of the terms and conditions of the sale in the notice.

(c) Notice and competitive bidding under paragraph (b) of this subsection is not required if the Director of Transportation declares an emergency to exist that requires the immediate removal of the timber. If an emergency has been so declared:

(A) Then the timber, regardless of value, may be sold by a negotiated price; and

(B) The director shall make available for public inspection a written statement giving the reasons for declaring the emergency.

(5) The department’s account or fund for the forest product shall be credited with the proceeds of the sale. [Amended by 1953 c.252 §2; 1971 c.279 §1; 1983 c.26 §1; 1989 c.904 §60; 1993 c.741 §40; 2005 c.32 §1; 2012 c.56 §4]