Newspaper article THE JOURNAL RECORD

Auctions Announced on State Lease Land

Newspaper article THE JOURNAL RECORD

Auctions Announced on State Lease Land

Article excerpt

About 250,000 acres of state-owned agricultural land will be offered for lease at public auction by the Commissioners of the Land Office at 15 sites, beginning Oct. 17 in Buffalo and ending Nov. 3 in Chickasha.

All leases expiring in 1988 will be auctioned. The effective date of new leases will be Jan. 1, 1989.

The Commissioners of the Land Office is a state agency responsible for administering the Oklahoma School Land Trust. About one-third of the leases on land administered by the CLO expire each year. Each lease is appraised by CLO field personnel and offered at public auction, with the appraised price as the minimum bid.

Five-year terms will be phased in beginning this year, with most leases being on the five-year rotation by 1991. Previously, lease terms had been limited to three years.

Revenue from the Oklahoma School Land Trust is allocated to schools and universities throughout the state. In 1987, about $7.4 million was collected from leases for disbursement to schools in all 77 counties.

For more information or a complete list of leases to be offered, write the Commissioners of the Land Office, Real Estate Management Division, Suite 200 Paragon Bldg., 5801 N. Broadway, Oklahoma City, OK, 73126, or call (405) 843-9962.

A schedule of the auction at all locations, by county, follows:

Harper, Woods Counties-Buffalo High School Auditorium, Oct. 17, 1 p.m.

Cimarron - County Fair Bldg., Boise City, Oct. 18, 10 a.m.

Texas - County Fairgrounds, Guymon, Oct. 19, 9 a.m.

Beaver - Beaver High School Auditorium, Oct. 19, 2 p.m.

Woodward, Dewey - Fargo School Gymnasium, Oct. …

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