419 LAWS OF THE SEVENTY−NINTH G.A., 2002 SESSION CH. 1143
CH. 1143CH. 1143
SALE OF IOWA STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY DAIRY RESEARCH FARM  USE OF PROCEEDS
AN ACT relating to the sale of certain farmland by Iowa state university of science and technol- ogy, providing for the appropriation and use of proceeds from the sale, and providing an effective date.
Be It Enacted by the General Assembly of the State of Iowa:
Section 1.LEGISLATIVE FINDINGS  GOAL. 1.The general assembly finds and declares that Iowa state university of science and tech-
nology has maintained a very successful dairy research facility for more than fifty years con- sisting of one thousand one hundred acres at its Ankeny dairy farm. However, the dairy farm’s facilities have become outdated. The general assembly further finds that in the years since the land for the dairy farm was first purchased by the university, the city of Ankeny has grown and now surrounds the facility. The general assembly finds that the dairy farm is now inhibiting the city’s future growth and forcing real estate developers to develop land outside the city, ex- acerbating urban sprawl.
2.The purpose of this Act is to encourage the university’s continued financial commitment to dairy research and teaching, to promote economic growth in the state, and to provide for intelligent growth within existing city limits.
Sec. 2.NEW SECTION.266.39FSALE OF DAIRY BREEDING RESEARCH FARM. 1.Immediately after the effective date of this Act, Iowa state university of science and tech-
nology shall develop a plan to sell, at market value, the one thousand one hundred-acre tract of land within the city limits of Ankeny, commonly referred to as the Iowa state university dairy breeding research farm. The plan shall include the sale of substantial portions of the tract as soon as practical, and the sale of all of the tract within a commercially reasonable time. Prior to implementing the plan, the university shall submit the plan to the state board of regents for review and approval. The sale shall be handled in a manner that is the most financially benefi- cial to the university. Appraisals conducted by the university of the value of any portion of the tract shall be made available to the public immediately following the sale of that portion of the tract.
2.The proceeds from the sale of the property as provided in subsection 1 are appropriated and shall be retained by Iowa state university of science and technology for use in establishing a new dairy research and dairy teaching facility or for the university’s plant sciences institute.
The provisions of section 262.9, subsection 7, and section 262.10, shall not apply to the sale of any portion of land to be sold in accordance with this section or to the use of the proceeds from the sale of the land.
3.By December 15 annually, the state board of regents shall submit a report of the activities and costs of the sale of any property in accordance with subsection 1, including but not limited to the use of any proceeds from the sale of the property and the environmental cleanup costs for any proposed sale in accordance with this section, to the general assembly in accordance with section 7A.11A, and to the legislative fiscal bureau, until such time as the sale of the prop- erty is complete and the proceeds have been expended by the university, at which time the state board of regents shall submit a final report on the sale of the property and use of the pro- ceeds to the general assembly in accordance with section 7A.11A and to the legislative fiscal bureau.
Sec. 3.EFFECTIVE DATE.This Act, being deemed of immediate importance, takes effect upon enactment.
Approved May 2, 2002