172.020. Corporate name--powers of curators--restrictions on dealings in real property, timber or minerals, rules--notice.

MISSOURI STATUTES AND CODES

172.020. Corporate name--powers of curators--restrictions on dealings in real property, timber or minerals, rules--notice.

Corporate name--powers of curators--restrictions on dealings in realproperty, timber or minerals, rules--notice.

172.020. Pursuant to sections 9(a) and 9(b) of article IX of theMissouri Constitution, the state university is hereby incorporated andcreated as a body politic and shall be known by the name of "The Curatorsof the University of Missouri", and by that name shall have perpetualsuccession, power to sue and be sued, complain and defend in all courts; tomake and use a common seal, and to alter the same at pleasure; to take,purchase and to sell, convey and otherwise dispose of lands and chattels,except that the curators shall not have the power to subdivide, sell orconvey title to any land contained within a university campus or tosubdivide, sell or convey title to any portion of any parcel of landcontaining in excess of twenty-five hundred contiguous acres unless suchtransaction is approved by the general assembly by passage of a concurrentresolution signed by the governor. The curators shall not sell, trade orotherwise convey or permit the severance of timber, minerals or othernatural resources, unless the curators comply with bidding proceduresestablished by rule that mandate notice of the transaction be provided in amanner reasonably calculated to apprise prospective purchasers. Such ruleor rules must at a minimum require at least one notice of the transactionbe published in a newspaper of general circulation where the resources arelocated. The curators may act as trustee in all cases in which there be agift of property or property left by will to the university or for itsbenefit or for the benefit of students of the university; to condemn anappropriate real estate or other property, or any interest therein, for anypublic purpose within the scope of its organization, in the same manner andwith like effect as is provided in chapter 523, RSMo, relating to theappropriation and valuation of lands taken for telegraph, telephone, graveland plank or railroad purposes; provided, that if the curators so elect, noassessment of damages or compensation under this law shall be payable andno execution shall issue before the expiration of sixty days after theadjournment of the next regular session of the legislature held after suchassessment is made, but the same shall bear interest at the rate of sixpercent per annum from its date until paid; and provided further, that thecurators may, at any time, elect to abandon the proposed appropriation ofproperty by an instrument of writing to that effect, to be filed with theclerk of the court and entered on the minutes of the court, and as to somuch as is thus abandoned, the assessment of damages or compensation shallbe void.