May 20-21, 1999
ITEM 103-1901-R0599 Purchase of Property, 1121 Sanders, Helena, Montana; Helena College of Technology of The University of Montana
THAT: The Board of Regents of the Montana University System authorizes the President of The University of Montana to purchase the property located at 1121 Sanders in Helena, Montana, and adjacent to the Helena College of Technology for the purchase price of $120,000, subject to final approval by the Office of the Commissioner.
EXPLANATION: The purchase includes a lot measuring 70 x 141.45, a 1,524-square-foot home with a full finished basement, a 24 x 24 detached garage, and other improvements. This property is directly east of the Donaldson Building, is contiguous to the other lots owned by the College, and would give the College the entire west-end of the block. The property is appraised for $128,000. The University of Montana would finance the purchase through an Intercap Loan. The loan will be amortized using property rental and auxiliaries revenues.