ENTITLED An Act to authorize the sale of real property in Lake County by the Board of Regents, and to declare an emergency.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. The Board of Regents may sell, at a minimum of the appraised value in accordance with    5-2-2.1 and 5-2-2.2, all or any portion of the following real property in the City of Madison, Lake County, South Dakota: TRACT A OF LOT 3 OF BLOCK 1 DSU FOUNDATION ADDITION.

Section 2. The proceeds from the sale authorized by section 1 of this Act, less any costs associated with the sale of the real property, must be deposited by the commissioner of school and public lands in the Board of Regents endowed institution interest and income fund, pursuant to chapter 5-10, and the earnings from the sale must be credited to the support of Dakota State University and its authorized programs, as provided by law.

Section 3. The executive director of the Board of Regents shall approve vouchers and the state auditor shall draw warrants to pay any expenses associated with the sale authorized by this Act.

Section 4. Whereas, this Act is necessary for the support of the state government and its existing public institutions, an emergency is hereby declared to exist, and this Act shall be in full force and effect from and after its passage and approval.

An Act to authorize the sale of real property in Lake County by the Board of Regents, and to declare an emergency.