Bill > HCR2032

This resolution proposes an amendment to Article X, Section 4 of the Arizona Constitution, which governs the sale or disposal of state trust lands. These lands are held in trust for specific beneficiaries, primarily public institutions like schools and universities. The amendment aims to make technical corrections to the existing language to clarify that any sale or disposal of these trust lands, including leaseholds and products from the land, must be appraised at their true value. It also clarifies that such transactions cannot be made for less than the appraised value or a minimum fixed price, and any credit offered must be accompanied by ample security. Finally, it confirms that legal title to the land only passes once the full payment has been made. This proposed amendment will be put before the voters at the next general election for their approval.

https://apps.azleg.gov/BillStatus/BillOverview/84442