Sec. 14.21.06.03. Market Value

Latest version.

A. Sales. Real property or interest in real property may not be sold by the Authority unless the purchaser pays an amount at least equal to the full appraised value of the real property or interest in real property as determined by the Authority.

B. Leases. Real property or interest in real property may not be leased by the Authority to any lessee unless the lessee pays an amount equal to the reasonable rental value of the real property or interest in real property as determined by the Authority.

                    
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