March 25-26, 2004


ITEM 122-2704-R0304��������������� Authorization to Purchase Real Property (68 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 68 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.