- As used in this chapter, unless the context requires otherwise:
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(a) “Commissioner” means the Commissioner of the Department of Sports, Parks and Recreation.
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(b) “Fund” means the Territorial Park Trust Fund created under this chapter.
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(c) “Land” means real property, including easements, restricts, and any interest thereon.
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(d) “Board” means the Board of Trustees responsible for the Territorial Park Trust Fund.
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(e) “Value” means the most probable price expressed in terms of money that a property would bring if exposed for sale in the open market in an arm’s-length transaction between a willing seller and a willing buyer, both of whom are knowledgeable concerning all the uses to which the property is adapted and for which it is capable of being used.
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