Nebraska Statutes 72-240.10. School lands; leases; permitted improvements and growing crops of lessee; determine value; inspection; notice
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The Board of Educational Lands and Funds shall have the authority and duty, as specified in sections 72-240.10 to 72-240.23 and 72-258, to determine the value to the land of permitted improvements and growing crops, owned by the lessee of record, on educational lands of the State of Nebraska prior to the sale or lease of such lands. The value to the land of permitted improvements shall not exceed their replacement cost less depreciation. In making such determinations, the board shall notify the lessee that it intends to inspect the premises and shall attempt to so inspect at the convenience of the lessee.
Source
- Laws 1967, c. 467, § 1, p. 1452;
- Laws 1971, LB 413, § 2;
- Laws 1999, LB 779, § 36.
Terms Used In Nebraska Statutes 72-240.10
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801