(1) Recommendations to sell personal property:

(a) The Personal Property Sales Committee shall review and recommend the sale of personal property. Members of the Personal Property Sales Committee shall include an equal number of members of the Montana Historical Society Board of Trustees and commission members, as specified in 22-3-1003, MCA. Such review must consider the criteria in ARM 8.112.202.

(b) The Personal Property Sales Committee shall identify whether the property being considered for sale is from the former Bovey assets acquired by the 55th Legislature (the Bovey assets). All funds from the sale of personal property from the Bovey assets must be placed in a trust fund, and interest from the trust fund must be used to manage, protect, and directly care for the remaining personal property acquired and managed by the commission, as required by 22-3-1003, MCA.

(c) Prior to forwarding a recommendation to the Executive Committee to sell personal property item(s), the Personal Property Sales Committee shall consider the criteria in ARM 8.112.202, and provide an estimated dollar value of the item(s) and/or an estimated cost of a third-party appraisal. The subcommittee shall prepare its recommendation to the Executive Committee in writing.

(d) At any time in the review process, the Personal Property Sales Committee may direct commission staff to assist in preparation of reports or in other capacities.

(e) Only those personal property item(s) for which a recommendation to sell is supported by a majority of the Personal Property Sales Committee members shall be forwarded to the Executive Committee or commission for consideration.

(f) On each personal property sale under consideration, the Executive Committee shall by vote decide to:

(i) proceed to the next level of detailed review as detailed in (2);

(ii) request additional information regarding the criteria found in ARM 8.112.202;

(iii) forward a recommendation directly to the commission for its consideration; or

(iv) deny the recommendation.

(2) Detailed review of personal property approved by Executive Committee to be further considered for sale:

(a) For personal property item(s) approved by the Executive Committee to proceed to the next level of review, the Personal Property Sales Committee shall prepare a written report for each item that considers the criteria in ARM 8.112.202 in accordance with the criteria set forth in (2) of ARM 8.112.206. The report shall also include an estimated dollar value of the item(s) and/or an estimated cost of a third-party appraisal.

(b) The Personal Property Sales Committee shall submit the report and its recommendations to the Executive Committee in writing at a meeting properly noticed and with the discussion of sales included on the agenda.

(c) The commission shall decide to:

(i) proceed to the public notice and hearing process specified in these rules; (ii) request additional information regarding the criteria stated in ARM 8.112.202; or

(iii) deny the recommendation.

(3) The commission shall make a decision to proceed or not proceed with a proposed sale at a properly noticed meeting, after an opportunity for public comment has been provided, based upon consideration of the criteria found in ARM 8.112.202 as set forth in the report(s) required herein, any comments from affected local government officials, recommendations from professional historians, and comments from the public at large.