53G-4-901. Definitions.
As used in this part:
(1) "Eligible entity" means:
(a) a city or town with a population density of 3,000 or more people per square mile; or
(b) a county whose unincorporated area includes a qualifying planning advisory area.
(2) "Purchase price" means the greater of:
(a) an amount that is the average of:
(i) the appraised value of the surplus property, based on the predominant zone in the surrounding area, as indicated in an appraisal obtained by the eligible entity; and
(ii) the appraised value of the surplus property, based on the predominant zone in the surrounding area, as indicated in an appraisal obtained by the school district; and
(b) the amount the school district paid to acquire the surplus property.
(3) "Qualifying planning advisory area" means a planning advisory area under Section 17-79-303 that has a population density of 3,000 or more people per square mile within the boundaries of the planning advisory area.
(4) "Surplus property" means land owned by a school district that:
(a) was purchased with taxpayer money;
(b) is located within a city or town that is an eligible entity or within a qualifying planning advisory area;
(c) consists of one contiguous tract at least three acres in size; and
(d) has been declared by the school district to be surplus.