Veterans invited to bid on taxi medallions
Published: November 19, 2012
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The V.I. Taxicab Commission will conduct its annual veteran medallion auction on Dec. 12, 13 and 14.
The auction is open only to Virgin Islands veterans of the U.S. armed services.
Applications can be picked up at the Taxicab Commission's Office during regular working hours, from 8 a.m. to 3 p.m. Monday through Friday. Bid forms must be deposited in the bid box no later than 10 a.m. the day of the auction.
Applications must be taken to the Office of Veterans Affairs for verification of eligibility as a U.S. Virgin Islands veteran on the island for which the bid is scheduled. Only approved buyers may submit a bid.
Bid applicants must be present at the time of auction, and bid envelopes will be publicly opened on the date and times indicated.
Two medallions for each island will be auctioned on the following dates and times:
- On St. Thomas at 11 a.m. Dec. 12 at the Taxicab Commission Office in Sub Base.
- On St. John at 11 a.m. Dec. 13 at the St. John Administrator's Office.
- On St. Croix at 11 a.m. Dec. 14 at the St. Croix Taxicab Commission Office in Golden Rock Shopping Center.
The minimum acceptable bids are $20,000 on St. Thomas or St. John and $8,000 on St. Croix.
A 10 percent down payment of the bid amount, which is a non-refundable deposit if the sale is not consummated, is required at the time of the bid or no later than 3 p.m. on the same day.
The down payment must be paid in cash or by money order or certified check to the Government of the Virgin Islands. The remaining 90 percent balance must be paid in a like manner within 10 days after the date of the auction sale, at which time a Certificate of Entitlement and the medallion will be issued.
If the sale is not consummated within the allotted 10 days, the second-highest bidder automatically will be awarded the medallion.
Any person who purchases a medallion at auction is prohibited from transferring it by sale, lease or otherwise, within three years of purchase. Thereafter such transfer, lease or sale must be to another eligible veteran.
For information, call the Taxicab Commission at 693-4211 ext. 4002.