15-07 Sale and Lease of Nongrant Lands
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<![CDATA[CHAPTER 15-07SALE AND LEASE OF NONGRANT LANDS15-07-01. Definitions. The terms "other than original grant lands" or "nongrant lands"mean all lands obtained by the board of university and school lands in any manner other than<br>that described in section 15-06-01.15-07-02. Rules and regulations for sale of nongrant lands - Powers of board. Theboard of university and school lands may make such rules and regulations not in conflict with the<br>provisions of this title as it deems necessary as to the manner, place, and time of payment of<br>principal and interest, the conduct of the business of selling and disposing of lands other than<br>original grant lands, and the terms and conditions of those sales. The board may sell nongrant<br>lands on amortized payment contracts, and renegotiate the terms of those contracts, so long as<br>the purchaser, at the time renegotiation is requested, has paid at least thirty percent of the<br>purchase price and the resulting contract is consistent with this chapter and with the board's<br>fiduciary responsibilities.15-07-03. Sale of nongrant lands authorized. The board of university and school landsmay sell nongrant land at either private or public sale as provided in this chapter. Any sale is<br>subject to any existing lease of the land.15-07-04. Sale requirements. Any land sold under the provisions of this chapter mustbe by public auction or sealed bids, except purchases under the provisions of section 15-07-10.15-07-05. Public sale of lands other than original grant lands - Notice. Repealed byS.L. 1987, ch. 193, </p>
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