Show PROCEDURE GOV SURPLUS PROPERTY the department of commerce of fice of surplus property has announced the procedures to be followed by its regional offices with respect to sales to tax exempt nonprofit educational institutions and I hospitals the clarification of the I 1 status of these institutions with regard to the acquisition of surplus property will be welcomed by them tax exempt nonprofit non profit educational institutions and hospitals ar sas now enabled 0 o negotiate purchases directly with the office of surplus property if the regional director is satisfied that the property is being acquired to fill a legitimate need and not for resale and that the price offered represents the fair value of the property contracts for the sale of surplus property to these institutions will contain the following conditions 1 the purchaser represents and warrants that it intends to use the property purchased for legitimate institutional purposes and is not buying such property for resale 2 the e purchaser represents barrants Zar an and warrants rants that it is a nonprofit educational institution or hospital which is exempted from the payment of federal income taxes under section 6 of the internal revenue code property Proper tv must be offered to buyers entitled to priorities under regulations ions of the surplus property Proper tv board before a purchase can be made by institutions and hospitals hospital tt if property has been offered for public sale by ohp th s bid method tax exempt exem Qt non drofitz educational in and hospitals bO will not be r knitted to negotiate purchases puro haies unless s no accountable bid is received luring the advertised bid feriod I 1 chev may bid however bobev e r if they so desire |