Montana Code 85-1-804. Appraisal of project lands — adjustment of lease fee
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85-1-804. Appraisal of project lands — adjustment of lease fee. The department shall appraise project lands owned by the department and shall maintain records of the appraisals. Not less than once during the term of a lease, the department shall reappraise the project lands and adjust the lease fee accordingly. The department may not increase a lease fee for a current lessee more than 2% a year during any period of 10 consecutive years.
Terms Used In Montana Code 85-1-804
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC