(1) The executive director, with the approval of the state board, shall sell any real property at the veterans center declared to be surplus by the state board to the highest bidder on such terms and conditions as are deemed appropriate by the executive director for not less than the appraised value thereof, as determined by an appraiser who is a member of the members appraisal institute (MAI), and to execute deeds of conveyance of such real property.
(2) Upon the sale of real property pursuant to subsection (1) of this section, the proceeds shall be deposited in the central fund and applied toward the retirement of any outstanding anticipation warrants.
Source: L. 98: Entire article R&RE, p. 192, § 1, effective April 10. L. 2012: (1) amended, (HB 12-1063), ch. 149, p. 537, § 4, effective May 3. L. 2014: Entire section amended, (SB 14-096), ch. 59, p. 271, § 25, effective August 6.
Editor's note: This section is similar to former § 26-12-312 (2.5) as it existed prior to 1998.