Executive Order 11765--Sale of vessels of the Navy
Source: The provisions of Executive Order 11765 of Jan. 21, 1974, appear at 39 FR 2577, 3 CFR, 1971-1975 Comp., p. 850, unless otherwise noted.
By virtue of the authority vested in me by section 7305(l) of title 10 of the United States Code, it is hereby ordered as follows:
Section 1. Vessels of the Navy stricken from the Naval Vessel Register pursuant to section 7304 of title 10 of the United States Code, and not subject to disposition under other law, may be sold at public sale to the highest acceptable bidder, regardless of their appraised value, after being advertised for sale for a period of not less than thirty days. Moreover, if the bid prices received after advertising are not considered reasonable by the Secretary of the Navy, or his designee, (either as to all or any part of a multiple ship advertisement) and he, or his designee, determines that readvertising will serve no useful purpose, such vessels may be sold by negotiation to the highest acceptable offeror: Provided, That (1) each responsible bidder has been notified of the intention to negotiate and has been given a reasonable opportunity to negotiate; (2) the negotiated price is higher than the highest rejected price of any responsible bidder; and (3) the negotiated price is the highest negotiated price offered by any responsible offeror.
Sec. 2. Each bid or offer shall be accompanied by a cash deposit (including cashier's check or certified check) in an amount not less than 10 percent of the bid or offer, or by a deposit bond, in such amount, executed by two or more acceptable sureties or by a surety appearing on the United States Treasury Department list of acceptable sureties. No other bond shall be required.
Sec. 3. Except as hereinabove modified pursuant to section 7305(l) of title 10 of the United States Code, sales of vessels of the Navy shall be conducted in accordance with the requirements in the remaining provisions of section 7305.
Sec. 4. This order supersedes Executive Order No. 10885 of August 31, 1960, entitled "Sale of Vessels of the Navy."