70.050 Authorization of Real Estate Sales, Leases, Licenses, Easements, Right-of-Way, and Mineral Rights

172.020 R.S. Mo.; Bd. Min. 3-6-52, p. 5,906; Bd. Min. 4-19-69, p. 34,497, Bd. Min. 6-29-79, Amended Bd. Min. 5-3-91, Amended Bd. Min. 12-15-95, Amended Bd. Min. 5-5-06, Amended Bd. Min. 12-7-17; Amended Bd. Min. 11-18-21.

1. The President or his or her designee, or other persons designated by the  Board, shall have the authority to acquire and sell real property, authorize sale agreements, rental agreements, lease agreements, license agreements,  and easement and right-of-way agreements covering real property, accept or disclaim gifts of real property, and acquire and sell or lease mineral rights, in conformance with these Collected Rules and Regulations. Deeds and instruments conveying title to real estate shall be executed in the manner and signed by such persons as referenced in Section 70.010B of these Collected Rules and Regulations. Contracts, instruments and agreements, other than deeds and instruments conveying title to real estate, shall be executed in the manner and signed by such persons as described in Section 70.010C of these Collected Rules and Regulations.
    
2. The President shall have the authority to acquire property from the UMKC Trustees without obtaining appraisals.
3. Board of Curators approval shall be required for:
   
   1. Property purchases with a negotiated price of more than $1,000,000.
   2. Property sales with a negotiated sale price of more than $1,000,000 or located within 1 mile of the student union at each university campus.
   3. Property leases for more than $1,000,000 per year or for more than ten years.
   4. Easements and right-of-way agreements that: i) convey rights to entities other than utility companies or governmental entities for a term longer than twenty-four (24) months, or ii) significantly impair the use of the property or significantly decrease the value of the property.
4. Board of Curators approval, and if required by applicable statutes, legislative approval by concurrent resolution signed by the governor, shall be required for the subdivision, sale or conveyance of title to any parcel of land containing in excess of 2,500 contiguous acres.