266.39F - SALE OF DAIRY BREEDING RESEARCH FARM.

        266.39F  SALE OF DAIRY BREEDING RESEARCH FARM.
         1.  Immediately after May 2, 2002, Iowa state university of
      science and technology shall develop a plan to sell, at market value,
      the one thousand one hundred-acre tract of land within the city
      limits of Ankeny, commonly referred to as the Iowa state university
      dairy breeding research farm.  The plan shall include the sale of
      substantial portions of the tract as soon as practical, and the sale
      of all of the tract within a commercially reasonable time.  Prior to
      implementing the plan, the university shall submit the plan to the
      state board of regents for review and approval.  The sale shall be
      handled in a manner that is the most financially beneficial to the
      university.  Appraisals conducted by the university of the value of
      any portion of the tract shall be made available to the public
      immediately following the sale of that portion of the tract.
         2. a.  The proceeds from the sale of the property as provided
      in subsection 1 are appropriated and shall be retained by Iowa state
      university of science and technology for use in establishing a new
      dairy research and dairy teaching facility or for the university's
      plant sciences institute.
         b.  The provisions of section 262.9, subsection 8, shall not
      apply to the sale of any portion of land to be sold in accordance
      with this section or to the use of the proceeds from the sale of the
      land.
         3.  By December 15 annually, the state board of regents shall
      submit a report of the activities and costs of the sale of any
      property in accordance with subsection 1, including but not limited
      to the use of any proceeds from the sale of the property and the
      environmental cleanup costs for any proposed sale in accordance with
      this section, to the general assembly in accordance with section
      7A.11A, and to the legislative services agency, until such time as
      the sale of the property is complete and the proceeds have been
      expended by the university, at which time the state board of regents
      shall submit a final report on the sale of the property and use of
      the proceeds to the general assembly in accordance with section
      7A.11A and to the legislative services agency.  
         Section History: Recent Form
         2002 Acts, ch 1143, §2, 3; 2003 Acts, ch 35, §45, 49; 2005 Acts,
      ch 179, §157
         Legislative findings and purpose; 2002 Acts, ch 1143, §1