May 17-18, 2001


ITEM 111-2701-R0501������ Purchase of Real Property (64 Mountain View); Montana State University-Billings


THAT:����������������������������������� The Board of Regents of the Montana University System authorizes Montana State University-Billings to purchase the Billings property commonly referred to as 64 Mountain View.

EXPLANATION:����������������� The property is within the area of purchase authorized by the Board of Regents in the 1998 Long Range Building Plan.� Revenue generated by MSU-Billings' rental properties would be utilized for the purchase; no state funds would be expended.� According to Board Policy 1003.3, two independent appraisals will be secured to establish the purchase price.� (Appraisals will be available for Board's Consideration.)� The Board of Regents approves the purchase at a maximum amount equal to the highest appraised value.