The division and board of State Lands and Forestry have announced the sale of two parcels of school trust lands for 228 percent of their appraised value.
The lands, located in Grand and San Juan counties, were sold for $65,000. Money from the sale goes into the state's trust land fund to generate money for education.The sales involved an 80-acre parcel northeast of Moab in the Cottonwood Canyon area of Fisher Creek and a 40-acre parcel 45 miles southeast of Moab near the Utah/Colorado border.
Sixteen bidders made offers for the plots, said Dick Mercer, division marketing specialist.
Utah was granted trust lands at statehood. The lands were to be managed for the benefit of education, health care and other public services. When sale of parcels of the land is determined by the division and board to be feasible, they are put up for competitive bidding. Contract financing is available when appropriate, with the buyer required to put 10 percent down and pay prime interest rates plus 2 percent on the balance in 20 annual payments.