Idaho Statutes Title 58. Public Lands § 58-507. Legislative findings and purposes

(1) That the following described tracts of endowment land, containing fifty-seven and two-tenths (57.2) acres of endowment land, more or less, managed by the state board of land commissioners, are located near, adjacent to, or within the boundaries of Ponderosa State Park near McCall, Idaho:

(2) That the Idaho park and recreation board manages Ponderosa State Park for public recreation and desires to consolidate ownership and management of the described parcels of endowment land with the existing park;

(3) That endowment lands are held in trust by the state board of land commissioners and are managed to generate the maximum long-term financial returns to the institution to which granted, or to the state if not specifically granted;

(4) That any transaction in which the Idaho park and recreation board acquires title to endowment lands, for inclusion in Ponderosa State Park, the state board of land commissioners shall receive title to real property of equivalent market value through land exchange;

(5) The Idaho park and recreation board and the state board of land commissioners have agreed to enter into a contract by which the Idaho park and recreation board may acquire the described endowment lands, associated timber, and improvements now owned by the state board of land commissioners, through land exchange at not less than fair market value, as determined by qualified appraisals;

(6) The Idaho park and recreation board has agreed to acquire title to the described endowment lands subject to any outstanding rights and reservations of record, and shall pay all costs of the transactions including, but not limited to, surveys and appraisals;

(7) It is the intent of the legislature to provide funds for this exchange to the Idaho park and recreation board in a timely manner.