Any governmental authority, agency or instrumentality which holds right, title, interest or estate in airspace or in other real property which is not needed for a public purpose or for public use may sell, convey or transfer the right, title, interest or estate owned by it, or any lesser right, title, interest or estate, to such persons as the laws of this state permit at public or private sale for not less than seventy-five percent (75%) of the appraised value thereof, as established by two or more disinterested, qualified appraisers. Along with transfers of unneeded airspace or real property, or right, title, interest or estate therein, the transferor may also grant or transfer easements or other rights and interests in retained airspace and real property which may be required to provide access to or support of structures erected in the transferred airspace or property.
Added by Laws 1973, c. 199, § 12, eff. Oct. 1, 1973.
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