The Board of Regents may enter into a lease-purchase agreement to acquire agricultural property in Moody County for the use and benefit of the South Dakota State University Agricultural Experiment Station. The lease may have a term not to exceed fifteen years, and an annual lease payment by the Board of Regents not to exceed one hundred twenty thousand dollars. The annual lease payment shall be authorized through the normal budgeting process and shall be made from other funds derived from grant and contract indirect recovery funds, royalty funds, and income from sales of services.
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