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6-62-608. Resolution authorizing transfer and lease.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-62-608. Resolution authorizing transfer and lease.
(a) Before proceeding with any transfer, the board shall first determine, by resolution adopted at a legal meeting of the board:
(1) That the property proposed for transfer continues to be needed in the operation of the university; and
(2) That it is in the best interest of the university to transfer the property and use it as lessee under a lease agreement as provided in this subchapter.
(b) The resolution shall designate one (1) or more persons to act on behalf of the board to negotiate with potential owners concerning the terms of the transfer and lease agreement for the property described in the resolution.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-62-608
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:6-62-608
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 63a8deda4355d39a872ad19d83c87c64be6ffdaab0be90d922c133e80534c875
Source location: content.xml paragraph 37682
Stored source content
6-62-608. Resolution authorizing transfer and lease.
(a) Before proceeding with any transfer, the board shall first determine, by resolution adopted at a legal meeting of the board:
(1) That the property proposed for transfer continues to be needed in the operation of the university; and
(2) That it is in the best interest of the university to transfer the property and use it as lessee under a lease agreement as provided in this subchapter.
(b) The resolution shall designate one (1) or more persons to act on behalf of the board to negotiate with potential owners concerning the terms of the transfer and lease agreement for the property described in the resolution.
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