1. MCA Contents
  2. TITLE 77
  3. CHAPTER 6
  4. Part 5
  5. 77-6-503 Leases of city lots, town lots, and commercial property

TITLE 77. STATE LANDS

CHAPTER 6. AGRICULTURAL, GRAZING, AND OTHER SURFACE LEASES

Part 5. Rental Provisions

Leases Of City Lots, Town Lots, And Commercial Property

77-6-503. Leases of city lots, town lots, and commercial property. The fair rental value of state-owned town lots, city lots, and land valuable for commercial development must be determined from time to time by the department with the approval of the board, and a record must be made of the values. State-owned town lots, city lots, or land valuable for commercial development may be leased at the current appraised rental value for terms not to exceed 99 years.

History: En. Sec. 20, Ch. 60, L. 1927; re-en. Sec. 1805.20, R.C.M. 1935; amd. Sec. 2, Ch. 207, L. 1945; amd. Sec. 1, Ch. 254, L. 1947; amd. Sec. 2, Ch. 201, L. 1949; amd. Sec. 2, Ch. 260, L. 1963; amd. Sec. 2, Ch. 257, L. 1965; amd. Sec. 10, Ch. 428, L. 1973; amd. Sec. 1, Ch. 134, L. 1974; amd. Sec. 2, Ch. 135, L. 1974; R.C.M. 1947, 81-402(part); amd. Sec. 5, Ch. 488, L. 1985; amd. Sec. 16, Ch. 404, L. 2003.