Appraisal of project lands – adjustment of lease fee
The department shall appraise project lands owned by the department and shall maintain records of the appraisals. Not less than once during the term of a lease, the department shall reappraise the project lands and adjust the lease fee accordingly. The department may not increase a lease fee for a current lessee more than 2% a year during any period of 10 consecutive years.
| EnactedEn. SectionSec. 4, ChapterCh. 301, Laws ofL. 1995 |