73-11-2 - Reserve stock for irrigating trust lands -- Sell or lease excess stock.
73-11-2. Reserve stock for irrigating trust lands -- Sell or lease excess stock.
The School and Institutional Trust Lands Administration shall have power, and it shall beits duty:
(1) in the event the merger and consolidation is effected, to reserve and hold an amount ofthe capital stock of the consolidated corporation as will supply a water right for all lands ownedby the state and capable of irrigation from the canals, ditches, or distribution system of theconsolidated corporation; and
(2) to sell or lease all excess stock upon such terms as it may consider best to personsowning land capable of being irrigated from the canals, ditches, or distributing system of theconsolidated corporation.
Amended by Chapter 299, 1995 General Session