5-5-6. Conduct, time, and place of leasing auction--Commissioner to conduct auction.

The lands designated shall be offered for lease at public auction to the highest bidder, at the courthouse of the county within which the lands are situated; or, if there be no courthouse, at the building in which the office of the county auditor is located. The auction shall be between the hours of ten a.m. and five p.m. The offering for lease shall be conducted by the commissioner, in accordance with the provisions of this chapter, and such instructions as the commissioner may deem necessary.

Source: SL 1917, ch 339, § 8; RC 1919, § 5640; SDC 1939, § 15.0406; SL 1994, ch 47, § 1.

5-5-6.1. Minimum rental rate for agricultural lands.

The commissioner of school and public lands shall establish the minimum annual rental rate per acre of all agricultural lands which are administered by the commissioner. The minimum annual rental rate per acre shall be the rate at which bidding is started. In fixing the minimum annual rental per acre, the following factors shall be considered:

(1)    Location, accessibility, and utility of the land as influenced by roads, easements, and topography;

(2)    Soil capabilities;

(3)    Climate; and

(4)    Current rental rates prevailing in the county in which such lands are situated.

Source: SL 1985, ch 37, § 8.