IDAHO FALLS, Idaho (KIFI/KIDK) - Targhee Regional Public Transportation Authority will auction off all of its vehicles and office equipment in October. It is the first phase of TRPTA's reorganization. Proceeds will help pay debt accumulated during the final months of TRPTA's operations.
"Many of our local creditors have generously worked with TRPTA's Board of Directors to negotiate our debt but unfortunately, we still have outstanding debt and no cashflow to pay it," says TRPTA Board Chair Dave Radford, Bonneville County Commissioner.
"The TRPTA Board of Directors continues to work with the Idaho Transportation Department and our legal counsel to pursue options for re-organization and creation of a new fixed bus route within the transit authority's legal operating area of Bonneville County," said Idaho Falls City Councilperson and TRPTA Board Director Michelle Ziel-Dingman. "The TRPTA Board of Directors will update the community once a plan is ready to be presented."
So far, Idaho Falls is the only Bonneville County municipality that has budgeted funds next year to support the transit authority.
Prime Time Auctions will manage the bidding process, which opened this week online.
The auction company will host a preview of auction items at the TRPTA building, 1810 W. Broadway, in Idaho Falls from 11 a.m. to 1 p.m. on October 4.
The auction will start closing at 1 p.m. October 6, with 30 seconds closing for each lot. (If a bid is placed within the last 2 minutes, an additional 2 minutes will be added.)
Auction winners will be allowed to pick up their items from 1 to 3 p.m. on October 7 and 10 a.m. to 1 p.m. on October 8.
The auction items include terms include used busses, laptops, desks, automotive tools, and other miscellaneous office supplies. All items not picked up within seven days are considered abandoned property and may be disposed of or donated per the discretion of the TRPTA Board. Each buyer pays a buyer's fee of 10% plus tax per item priced up to $2,500.00. Each buyer pays a buyer's fee of 5% plus tax per item priced at $2,501.00 and higher.