Minimum annual rental for grazing lands--Formula

The commissioner of school and public lands shall establish the minimum annual rental rate per acre of all grazing lands which are administered by the commissioner. The minimum annual rental rate per acre shall be at the rate at which bidding shall start. In fixing the minimum annual rental per acre, the following formula shall be used: The rental rate shall be divided by the annual animal carrying capacity. The carrying capacity of the land, to be used in the above formula, shall be in accordance with the determination of the commissioner of school and public lands made pursuant to the appraisal of grazing lands provided in §