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§18B-14-2 Authorization to sell West Virginia University vacant lot located in Morgantown and biological research station located in Terra Alta.

§18B-14-2. Authorization to sell West Virginia University vacant lot located in Morgantown and biological research station located in Terra Alta.
(a) The board of trustees is hereby authorized and empowered to sell those parcels of land situate on the Chestnut Ridge Road in Monongalia County, West Virginia, bounded and described as follows:

Beginning at a hub in the edge of the Chestnut Ridge Road along the boundary formerly belonging to Sam Ivill; thence with Ivill, N 10 degrees 01' W 260.04 feet to a hub, corner to the lands of Blanche Sayre found in Deed Book No. 481, at Page 95; thence with Sayre, S 89 degrees 36' E 295.45 feet to a hub, corner to W. V. Board of Regents in Deed Book No. 584, at Page 1; thence with W. V. Board of Regents S O degrees 55' W 255.82 feet to a hub at the northern edge of the Chestnut Ridge Road; thence along the northern edge of the Chestnut Ridge Road, N 89 degrees 36' W 254.00 feet to the place of beginning, containing 1.61 acres, more or less, as surveyed by Triad Engineering Consultants on 6/27/79.

(b) The board of trustees is hereby further authorized and empowered to sell those parcels of land situate in Terra Alta, Preston County, West Virginia, bounded and described as follows:

Those lots or parcels of real estate situated in Portland District, Preston County, West Virginia, containing 48.28 acres recorded under Book 283, Page 217.

(c) Such sale shall be by public auction: Provided, That prior to such action the board of trustees shall have the property appraised by two licensed appraisers and shall not sell the property for less than the average of the appraisals.

(d) The proceeds from the sale of the property referred to shall be deposited in a special revenue account from which the board of trustees is hereby authorized to expend the funds therefrom for development of the Downtown Campus, at West Virginia University, in Morgantown.

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