77-6-503. Leases of city lots, town lots, and commercial property.
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/mt/title-77/chapter-6/part-5/77-6-503·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
77-6-503 . Leases of city lots, town lots, and commercial property. The fair rental value of state-owned town lots, city lots, and land valuable for commercial development must be determined from time to time by the department with the approval of the board, and a record must be made of the values. State-owned town lots, city lots, or land valuable for commercial development may be leased at the current appraised rental value for terms not to exceed 99 years.