September 23-24, 1999

ITEM 104-1008-R0999 Purchase of Property, 639 South 5th East; The University of Montana-Missoula

THAT: The Board of Regents of the Montana University System authorizes The University of Montana-Missoula to implement steps necessary to purchase the property located at 639 South 5th East in Missoula, Montana, for $102,500, subject to final approval by the Office of the Commissioner of Higher Education.

EXPLANATION: The property acquisition zone identified in Board of Regentsí Item 58-101-R1287 (attached) includes this property. The property has been appraised at $98,000 and $105,000. The University was able to negotiate $102,500 with the seller.

ATTACHMENTS: Board of Regentsí Item 58-101-R1287 and Receipt and Agreement to Sell and Purchase.