Utah Admin. Code R850-140-800 - Supporting Transactions
1. The agency
may enter into supporting transactions as necessary to promote prudent and
profitable development of trust lands designated as development
properties.
2. The purchase, sale
or exchange of land in connection with a supporting transaction shall be
supported by either an appraisal or a detailed internal analysis of
value.
3. The board must approve
any proposed supporting transaction that involves the purchase, sale or
exchange of land having a value in excess of $500,000.
Notes
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