(1) Except as otherwise provided in subsection (2) of this section, any person desiring to purchase any state-forfeited tax land shall make application in writing to the Secretary of State for the purchase of the land, and shall state in the application:

(a) A correct description of the land sought to be purchased.

(b) The name of the former owner and the name of the person to whom the land was assessed at the time of the tax sale, and the post office address of the former owner and the post office address of the person to whom the land was assessed at the time of the sale, if known to the applicant.

(c) Whether or not the land is occupied at the date of the filing of such application, and the name of the person occupying the land, if any.

(d) The nature and value of the improvements on the land.

(e) The approximate quantity of the merchantable timber on the land, if any.

(f) Any other special information as the Secretary of State, with the approval of the Governor, may require.

Each application shall be signed by the applicant and shall contain a declaration that the statements and information submitted in the application are true and correct and are made under penalty of perjury. The Secretary of State may require any additional information with reference to the value of the lands, the nature and condition of the buildings and improvements on the lands, and the value of the timber on the lands as he may deem necessary. The applications shall be filed by the Secretary of State in the order in which they are received. Each application shall be given a serial number and shall be entered on a record book on the day it is received. The record book shall show the name of the applicant, the serial number of the application, and the county in which the property is situated.

(2) Except as otherwise provided in subsection (3) of this section, the Secretary of State, with the approval of the Governor, may dispose of any state-forfeited tax land by sealed bids after three (3) weeks’ advertisement in a newspaper in the county in which the land is located.

(3) The Secretary of State may sell state-forfeited tax land by online auction. The Secretary of State may establish procedures and adopt administrative rules for the sale of state-forfeited tax land by online auction.