Oklahoma § 61-327.2 - Proposals for investment real property

§ 61-327.2. Proposals for investment real property

A. When the Commissioners of the Land Office determine it is in

the best interest of the trust, the Commissioners may invite the

presentation of written proposals for the lease, sale, exchange,

construction, maintenance, repair, improvement, development or

redevelopment of any investment real property, as defined in this

section, contained within the Land Office trust.

B. The term "investment real property" shall include all real

property acquired by the Commissioners for investment purposes and

shall exclude all real property originally granted in the Enabling

Act of 1906.

C. Proposals shall be evaluated by the Commissioners of the

Land Office investment committee which shall make recommendations to

the Commissioners. The Commissioners shall retain authority to make

Oklahoma Statutes - Title 61. Public Buildings and Public Works

all decisions concerning investment real property. Evaluation of

the proposals shall be based on the following criteria:

1. The economic benefit of the proposal to the Land Office

trust, advancement of long-term capital asset plan, investment

objectives, or other advantages to the Land Office trust for the

benefit of the trust;

2. The qualifications and experience of the construction or

maintenance provider, developer or redeveloper; and

3. The financial ability of the construction or maintenance

provider, developer or redeveloper to perform in a timely fashion.

D. The Secretary of the Land Office may enter into negotiations

with one or more respondents and may enter into contracts with the

respondent or respondents selected by majority vote of the

Commissioners in an open meeting.

E. The Commissioners may reject any and all bids.

Added by Laws 2016, c. 71, § 5.