ENGROSSED
Senate Bill No. 673
(By Senators Sprouse, McKenzie, Mitchell and Minear)
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[Introduced February 22, 1999; referred to the Committee on Government Organization; and then to the Committee on Finance.]
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A BILL authorizing the state building commission to sell the land, together with the improvements thereon, known as the Morris Square building in Charleston, Kanawha County.
Be it enacted by the Legislature of West Virginia:
SALE OF PROPERTY.
§1. Land sale; description.
(a) The executive director of the state building commission is authorized to solicit interest in, enter into a contract for sale, and to sell and convey, for good and valuable consideration as negotiated by the executive director of the state building commission, all of those certain lots or parcels of land, together with the improvements thereon, the privileges thereof, and the appurtenances thereunto belonging, known as Lot "A-1", containing 1.118 Acres, more or less, and Lot "A-2", containing 0.507 Acres, more or less, situate in the city of Charleston, Charleston East Tax District, Kanawha County, West Virginia, being the same property being more accurately bounded and described in a deed dated the 29th day of October, 1996, from Charleston Building Corporation, to the State Building Commission Of West Virginia, duly of record in the Office of the Clerk of the County Commission of Kanawha County, West Virginia, in Deed Book No. 2399, at Page No. 79; subject, however, to all restrictions, reservations, rights-of-way, easements, utilities, covenants, restrictions, leases, exclusions and other matters duly of record affecting the subject property. Reference to the deed is here made for a more particular description of the property, and for all pertinent purposes. The money from the sale of the property shall be deposited in the state general revenue fund.
(b) The executive director may engage the services of a duly licensed real estate broker to sell the property, for a commission not to exceed seven percent of the sale price, to be paid from the proceeds of sale at the time of the closing of the sale.
(c) Prior to the listing of the property with a real estate broker and to the sale of the property, the executive director must have the property appraised by two independent licensed commercial real estate appraisers. The property may not be sold for less than the average of the fair market values of the property as determined by the appraisals.
(d) All or partany part of the funds realaizedalized from the sale may be used for intermodal facilities within the state of West Virginia.