Trust Lands Auction Brings More Than $1,000,000
11-Mar-1998
The March 6, 1998, sale of Utah trust land, conducted by the School and Institutional Trust Lands Administration, generated revenues of $1,025,950 for the schoolchildren and other trust land beneficiaries of the state of Utah. The 13 parcels sold - more than 2,380 acres - are in various locations around the state. The average selling price was about $430 per acre. The properties sold include: •Two large parcels near Koosharem Reservoir totaling about 550 acres •40 acres about two miles south of Torrey at the base of Boulder Mountain •Five one-acre parcels in Widtsoe Junction, north of Bryce Canyon •660 acres on Flat Iron Mesa, one mile west of La Sal Junction •80 acres at Photograph Gap, 15 miles north of Monticello •640 acres near Sevier Dry Lake •280 acres about five miles southeast of Delta •120 acres three miles east of Aurora Two parcels totaling about 1,130 acres were not sold because the auction did not result in bids which were equal to, or greater than, the Trust Lands Administration's minimum acceptable prices. These parcels will be offered again at a future auction. Revenue generated by land sales is put into the permanent funds of Utah schools and other beneficiaries. The permanent funds are not spent, but are invested by the State Treasurer to provide perpetual payments to the beneficiaries. The Trust Lands Administration will conduct another land auction of about 10 parcels on May 8, 1998. Call the Trust Lands Administration in Salt Lake City at 801-538-5100 for more information about the next sale or check out our Web Page at www.trustlands.com. The School and Institutional Trust Lands Administration is an independent state agency which manages 3.7 million acres of Utah trust lands exclusively for the benefit of Utah's schools and other public institutions.