state trust lands; technical correction
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This resolution proposes an amendment to the Arizona Constitution regarding the sale and disposal of state trust lands. Specifically, it requires that trust lands and related products be appraised at their true value before being offered for sale. Furthermore, it establishes minimum price requirements for sales and prohibits sales on credit without sufficient security. The legal title to the land will not transfer until payment is received.
Key provisions
- Trust lands and products must be appraised at their true value before sale.
- Sales must meet a minimum price requirement.
- Sales on credit require adequate security.
- Legal title transfers only upon full payment.
Who is affected
- State of Arizona
- Trust Land Beneficiaries
- State Government
- Potential Land Purchasers
Notable changes
- Establishes minimum price requirements for trust land sales.
- Requires appraisal of trust lands and products.
- Prohibits sales on credit without security.
Bill text
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Sponsors
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1 on record
Primary sponsor
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