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.