Section 203 – Land Exchange Distribution Account.
Affected by 63I-1-253 on 7/1/2030 Effective 5/12/2020 53C-3-203. Land Exchange Distribution Account. (1) As used in this section, “account” means the Land Exchange Distribution Account created in Subsection (2)(a). (2) (a) There is created within the General Fund a restricted account known as the Land Exchange Distribution Account. (b) The account shall consist of revenue […]
Section 101 – Criteria for sale, lease, exchange, or other disposition of trust lands.
53C-4-101. Criteria for sale, lease, exchange, or other disposition of trust lands. (1) (a) The director shall establish criteria by rule for the sale, exchange, lease, or other disposition or conveyance of trust lands, including procedures for determining fair market value of those lands. (b) (i) Nothing in this title or in the administration’s rules […]
Section 102 – Sale of trust lands — Fair market value — Determination of sale — Advertising proposed sales — Sale procedures — Defaults.
Effective 2/21/2018 53C-4-102. Sale of trust lands — Fair market value — Determination of sale — Advertising proposed sales — Sale procedures — Defaults. (1) Trust lands may not be sold for less than the fair market value. (2) (a) The director shall determine whether disposal or retention of all or a portion of a […]
Section 103 – Rulemaking for sale of real property — Licensed or certified appraisers — Exceptions.
53C-4-103. Rulemaking for sale of real property — Licensed or certified appraisers — Exceptions. (1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, if the administration buys, sells, or exchanges real property, the administration shall make rules to ensure that the value of the real property is congruent with the proposed price […]
Section 201 – Surface leases and user permits — Procedures for issuing leases and user permits.
53C-4-201. Surface leases and user permits — Procedures for issuing leases and user permits. (1) The director may issue surface leases and user permits of trust lands for any term consistent with sound and prudent real estate practices. (2) This section does not apply to leases for grazing, oil, gas, and hydrocarbons, or other minerals. […]
Section 103 – Disposition of interest on permanent funds.
Effective 7/1/2017 53C-3-103. Disposition of interest on permanent funds. The trust distributions derived from the investment of funds belonging to the permanent State School Fund and the permanent funds of the respective state institutions shall be distributed for use for the maintenance of public elementary and secondary schools or the state institutions in accordance with […]
Section 104 – Disposition of reservoir land grant revenue.
53C-3-104. Disposition of reservoir land grant revenue. Money from the sale or management of land selected under the Reservoir Land Grant for the establishment of permanent water reservoirs and water development and conservation projects for irrigation purposes shall be deposited in the Water Resources Construction Fund created in Section 73-10-8. Enacted by Chapter 294, 1994 […]
Section 105 – Disposition of revenue for normal schools.
53C-3-105. Disposition of revenue for normal schools. Money distributed for the benefit of the state’s normal schools, as provided under the Utah Enabling Act, Section 12, Utah Constitution Article X, Section 7, Utah Constitution Article XX, Section 2, and Sections 53C-3-101 and 53C-3-103, shall be allocated to institutions within the state system of higher education, […]
Section 202 – Collection and distribution of revenues from federal land exchange parcels.
53C-3-202. Collection and distribution of revenues from federal land exchange parcels. (1) The director shall collect all bonus payments, rentals, and royalties from the lease of: (a) minerals on acquired lands; (b) acquired mineral interests; (c) minerals on exchanged lands; and (d) exchanged mineral interests. (2) No later than the last day of the second […]
Section 412 – Land subject to federal mineral lease.
53C-2-412. Land subject to federal mineral lease. (1) With respect to any tract of land in which the trust acquires or has acquired any interest subject to an outstanding federal mineral lease or prospecting permit, the lessee or permittee may submit a petition seeking extension of the permit or lease or any other action as […]