§ 61-325. Inventory and appraisal - Sale.

The Office of Management and Enterprise Services shall make or cause to be made a full and complete inventory and appraisal of the property described in Section 128.1 of this title.  The Office may offer for sale to the highest bidder at public sale all of the lots, blocks, or acreage tracts of "Capitol Building Lands" that are not used by the state and which, in the judgment of the Office, will not be required for future use by the state.  The property shall be offered for sale in separate lots or tracts, for cash, to the highest bidder.  The sale shall be at public auction or under sealed bids whichever the Office may determine to be most advantageous.  The sale shall be advertised in a newspaper of general circulation in Oklahoma County, Oklahoma, for not less than thirty (30) days prior to the date of sale.  The notice shall contain an accurate description of all the property to be sold and terms and conditions of the sale.

The lands so offered for sale shall be subject to a reservation by this state in one-half (1/2) of all the mineral rights therein. If royalties are not paid to the state from any of the above-described lots or tracts of land, the sale of such properties shall be made subject to a reservation by this state of all of the mineral rights therein under the lots or tracts.  The Office of Management and Enterprise Services shall reserve the right to refuse any and all bids for the property.  No sale of any portion of the land shall be confirmed at a price less than ninety percent (90%) of the appraised value.  All sales shall be approved by the Governor.

Added by Laws 1947, p. 589, § 2, emerg. eff. May 16, 1947.  Amended by Laws 1983, c. 304, § 140, eff. July 1, 1983; Laws 2012, c. 304, § 816; Laws 2013, c. 209, § 6, eff. July 1, 2013.  Renumbered from § 128.2 of Title 74 by Laws 2013, c. 209, § 37, eff. July 1, 2013.