Executive Order 10885—Sale of Vessels of the Navy
By virtue of the authority vested in me by section 7305 (Z) of title 10 of the United States Code, it is hereby ordered as follows:
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, pursuant to section 7305 of title 10 of the United States Code, regardless of their appraised value, after being advertised for sale for a period of not less than thirty days. Each bid 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 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.
2. This order supersedes Executive Order No. 10743 of December 10, 1957, entitled "Sale of Vessels of the Navy."
DWIGHT D. EISENHOWER
THE WHITE HOUSE,
August 31, 1960.
Dwight D. Eisenhower, Executive Order 10885—Sale of Vessels of the Navy Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/306887