1. (1) When evaluating the sale of an Eligible Property to the Utah Department of Natural Resources pursuant to Section 53C-4-104, the director shall consider the following factors:

   1. (a) whether leasing the Eligible Property to the Utah Department of Natural Resources pursuant to Section R850-30-700 would better serve the interests of the affected beneficiaries; and
   2. (b) whether waiving the advertising requirements described in Subsection 53C-4-102(3) and Title R850 pursuant to Subsection 53C-4-104(1)(c) is in the best interest of the affected beneficiaries.
2. (2) The director shall require payment of at least fair market value as determined pursuant to Section R850-80-635 for the sale of an Eligible Property to the Utah Department of Natural Resources.
3. (3) The director shall make a written finding that upon consideration of the factors listed in Subsections R850-80-200(2)(a), R850-80-200(2)(c), R850-80-200(2)(d), and R850-80-630(1), the sale of Eligible Property to the Utah Department of Natural Resources is in the best interest of the affected beneficiaries. The director shall provide the written finding to the board.

4. (4) The board must consider the sale of an Eligible Property at an open meeting and take public comment on:

   1. (a) the terms of the proposed sale; and
   2. (b) the director's finding that waiving the advertising requirements pursuant to Subsection 53C-4-104(1)(c) is in the best interest of the affected beneficiaries.

5. (5) At least 30 days prior to the board's consideration of the sale at an open meeting, the director shall give notice of the proposed sale to:

   1. (a) the legislative body of each county in which a portion of the Eligible Property is located;
   2. (b) lessees and permittees of record on the Eligible Property;
   3. (c) adjoining landowners as shown on county records;
   4. (d) the affected beneficiary institution; and
   5. (e) the Land Trusts Protection and Advocacy Office.

6. (6) The notice of sale must include:

   1. (a) a general description of the Eligible Property and a brief description of its location, including township, range, and section; and
   2. (b) the date, time, and location of the meeting where the board will consider the sale.
7. (7) The sale of an Eligible Property under Section 53C-4-104 must be approved by the board before the director may execute the transaction.

8. (8) The director may require the Utah Department of Natural Resources to deposit funds in advance to offset the anticipated costs to prepare the Eligible Property for sale.

   1. (a) If the director terminates the sale prior to finalization of a certificate of sale, the director shall refund the deposit to the department.
   2. (b) If the department terminates the sale prior to finalization of a certificate of sale, the agency may retain the deposit.
9. (9) The director may offer financing to the Utah Department of Natural Resources pursuant to Section R850-80-500. If the department finances through the agency, the director may require the department to pay a down payment in an amount determined by the director.
10. (10) A Statutory Purchase Right does not apply to any portion of an Eligible Property offered for sale to the Utah Department of Natural Resources.

KEY: administrative procedures, sales

Date of Last Change: September 15, 2025

Notice of Continuation: May 26, 2022

Authorizing, and Implemented or Interpreted Law: 53C-1-302(1)(a)(ii); 53C-2-201(1)(a); 53C-4-101(1); 53C-4-102; 53C-4-104; 53C-4-202(6); 63G-2-305; 72-5-203(1)(a)(i); 72-5-203(2)(a)