76-1721. Same; public sale; notice requirements; limitation on bids; disposition of proceeds. The state board of social welfare, if it proceeds under this section, shall give public notice for not less than thirty (30) days by publication in a newspaper of general circulation in Atchison county, Kansas, and authorized by law to publish legal notices, and that it will offer to sell the real estate described in K.S.A. 76-1719 at public sale on the day and hour named in said notice. Said notice shall contain a description of the land with the appraised value thereof. At the time mentioned in said notice the state director of institutions shall offer said real estate so appraised for sale at public auction selling such real estate as an entire tract, but no bids shall be received for less than three-fourths (¾) of the appraised value and all such real estate mentioned and referred to in K.S.A. 76-1719 shall be sold for cash. When such real estate shall be sold, the proceeds thereof, after deduction of the expenses of such sale, shall be paid into the state treasury and shall be credited to the general fund of the state.

History: L. 1955, ch. 392, § 3; April 1.