South Dakota Codified Laws 5-2-2.4. Lease of land by executive branch–Period of lease–Renewal–Amount
Current as of: 2023 | Check for updates
|
Other versions
The executive branch may lease land for a period not to exceed five years, subject to one renewal for an additional period not to exceed five years upon approval of the board or department involved in the lease. The lease shall be made for an amount established by appraisal by the commissioner of school and public lands.
Terms Used In South Dakota Codified Laws 5-2-2.4
- Appraisal: A determination of property value.
- 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
Source: SL 1976, ch 7, § 4; SL 1989, ch 20, § 55.