All lands, now owned or hereafter acquired by the state for educational purposes, may be sold at the expiration of the present leases. The Board of Educational Lands and Funds shall retain all mineral rights in the land sold. Prior to such sale, the land may be appraised for purposes of sale in the same manner as privately owned land by a certified general real property appraiser appointed by the board and thereafter shall be sold at public sale at not less than the appraised value. When two or more contiguous tracts are under separate leases with different expiration dates, the board may, if it is deemed to be in the best interest of the state, defer the sale of any tract having an earlier lease expiration date and may offer the tract for lease for less than twelve years to coincide with the expiring lease of the contiguous tract, in order that the contiguous lands may eventually be offered for sale on the same date.

Source

  • Laws 1921, c. 81, § 1, p. 294;
  • C.S.1922, § 5215; C.S.1929, § 72-235;
  • Laws 1935, c. 163, § 17, p. 609;
  • C.S.Supp.,1941, § 72-235;
  • Laws 1943, c. 161, § 1, p. 575;
  • R.S.1943, § 72-257;
  • Laws 1949, c. 214, § 2, p. 611;
  • Laws 1951, c. 239, § 1, p. 846;
  • Laws 1961, c. 352, § 1, p. 1112;
  • Laws 1963, c. 419, § 1, p. 1345;
  • Laws 1965, c. 435, § 2, p. 1386;
  • Laws 1967, c. 466, § 10, p. 1450;
  • Laws 1973, LB 145, § 1;
  • Laws 2000, LB 1010, § 3;
  • Laws 2006, LB 778, § 7.

Terms Used In Nebraska Statutes 72-257

  • 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
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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
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