37-1152

37-1152. Auction and sale of released public
trust lands

A. If the department determines that any portion or reach of a bed of a navigable
watercourse may be released from the public trust, the department shall cause an
appraisal of the property to be made to determine its fair market value. The property
shall not be disposed of for an amount less than that appraised value.

B. At the same time, the department shall also cause an appraisal to be made of
such reasonable improvements to the property as the record owner or lessee may have made
in good faith. The amount of that appraised value of the improvements shall be credited
and applied to the bid of the record owner or lessee at any sale or public auction of the
land that the department conducts. If the record owner or lessee is not the successful
bidder at the sale or auction, the successful bidder shall reimburse the owner or lessee
by the amount of the appraised value of the improvements.

C. Sections 37-236, 37-237 and 37-238 apply to the sale of such lands at public
auction.