Two St. John taxi medallions for St. John Veterans of the U.S. Armed Services will be offered at auction by the Virgin Islands Taxicab Commission on Tuesday, December 16, at 11 a.m. at the St. John Administrator’s Office.
The minimum acceptable bid for a St. John medallion is set at $20,000.
The Commission will conduct its annual veteran medallion auctions on all three islands on December 15, 16 and 17. This auction is open only to V.I. Veterans of the U.S. Armed Services.
Bid applicants must be present at the time of auction and bid envelopes will be publicly opened on the date and times indicated pursuant to Title 20, Section 407 (c) of the VI Code.
Bid forms must be deposited in the bid box no later than 10 a.m. on the day of the auction. Applications can be picked up at the Taxicab Commission’s Office during regular working hours, Monday through Friday, 8 a.m. to 3 p.m.
Applications must be taken to the Office of Veterans Affairs for verification of eligibility as a U.S. Virgin Island veteran on the island for which the bid is scheduled.
Only approved buyers may submit bids. Any persons who purchases a medallion at auction pursuant to this subsection is prohibited from transferring said medallion by sale, lease or otherwise, within three years of purchase. Thereafter such transfer or sale must be to another eligible veteran.
A down payment of 10 percent of the bid amount, which would be 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. This down payment must be paid in money order or certified check payable to the Government of the Virgin Islands. No payment will be accepted in cash.
The remaining balance of 90 percent must be paid in a like manner within ten (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 ten (10) days, the second highest bidder will automatically be awarded the bid.