Trust Lands Sale Brings $830,600
07-Oct-1997
On October 3, 1997, the School and Institutional Trust Lands Administration held an auction selling 12 parcels of trust land from varied locations around the state. A total of 2,160 acres were sold for $830,600 -- an average of $383 per acre. The properties sold include: Four 10-acre lots near the top of Monroe Mountain in Fishlake National Forest 40 acres about two miles south of Torrey, Utah, at the base of Boulder Mountain 200 acres on the east boundary of Zion National Park 250 acres just west of Koosharem reservoir, one mile north of Burrville, Utah 640 acres seven miles southeast of Delta on U.S. 50 40 acres northeast of Green River, Utah 565 acres about six miles south of Snowville, Utah Three parcels totaling about 600 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 sold 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 approximately 3,200 acres on March 6, 1997. Call the Trust Lands Administration in Salt Lake City at 801-538-5100 for more information about the upcoming sale. 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.