Whenever any school or state lands are taken for railway purposes as provided in section 49-09-01, the railway corporation taking such lands shall pay to the state treasurer the appraised value thereof but in no case any sum less than ten dollars per acre [.40 hectare] for all such lands so taken.
School lands to be taken at appraised value
N.D.C.C. § 49-09-02 — under Acquiring and Transferring Utility Property.
N.D.C.C. § 49-09-02