(1) Any airplane purchased or operated under the provisions of this chapter which becomes surplus to the needs of the state may be sold by the Department of Finance and Administration upon the receipt of not less than three (3) sealed bids after three (3) public advertisements inviting such bids in some newspaper published in the State of Mississippi and having general circulation therein. The Department of Finance and Administration, may reject any or all bids and readvertise, in its discretion. The sums derived from such sale shall be placed in the special fund as established by Section 61-13-17 for the operation of airplanes purchased and operated under the provisions of this chapter.
(2) The Department of Finance and Administration shall proceed to sell one or more of the aircraft purchased prior to July 1, 1986, pursuant to this chapter. The sale of such aircraft pursuant to this subsection shall be subject to the bid requirements of subsection (1). It is the intent of the Legislature that the sale of such aircraft shall be timed to produce the maximum revenues at sale.