(1) The Elliott State Research Forest shall consist of lands determined by a resolution of the State Land Board, as modified by any subsequent expansion or exchange of lands authorized by this section. (2) The board may not sell any lands in the forest, but may approve an expansion of lands in the forest, or an exchange of lands in the forest or timber on the lands, that furthers the purposes set forth in ORS 273.830. (3) Lands in the forest may be exchanged: (a) Only if the exchange consolidates the forest. (b) Only for lands of approximately equal aggregate value or a combination of lands and monetary consideration of approximately equal aggregate value. (4) Lands in the forest that are county-owned lands or lands acquired under ORS 530.010 to 530.040 may be exchanged only if the county court or board of county commissioners of each county in which the land is situated has been provided notice of the proposed exchange and the opportunity to consult, coordinate and comment on the proposed exchange. The board shall provide the county with adequate compensation for the exchange. (5) The board shall consummate by legal conveyance an expansion or exchange described in this section. (6) After an expansion or exchange of lands under this section: (a) The board shall establish by resolution the lands constituting the forest; and (b) The lands acquired by expansion or exchange become part of the forest on the date on which the board adopts the resolution described in paragraph (a) of this subsection.
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