R850-80-200. Determination to Sell Trust Lands

(1) The director may sell trust lands if the director determines that the sale would be in the best interest of the trust beneficiaries. The director may take into account any factor and circumstances deemed relevant in determining whether to sell trust lands. (2) In determining whether the sale of trust lands is in the best interest of the trust beneficiaries, the director may consider the following factors: (a) whether the subject parcel is appreciating in value at a higher rate than the anticipated rate of return on the purchase price; (b) whether there is evidence of competitive market interest, unless the purpose of the sale is to test the market in a particular area; (c) whether the sale would create obstacles to future mineral development on trust lands; or (d) whether, in the director's sole discretion, the sale would foreclose future development or management options that would likely result in greater long-term economic benefits. (3) The director may not sell trust lands for less than fair market value.