As used in this part: (1) "Eligible entity" means: (a) a city or town with a population density of 3,000 or more people per square mile; or (b) a county whose unincorporated area includes a qualifying planning advisory area. (2) "Purchase price" means the greater of: (a) an amount that is the average of: (i) the appraised value of the surplus property, based on the predominant zone in the surrounding area, as indicated in an appraisal obtained by the eligible entity; and (ii) the appraised value of the surplus property, based on the predominant zone in the surrounding area, as indicated in an appraisal obtained by the school district; and (b) the amount the school district paid to acquire the surplus property. (3) "Qualifying planning advisory area" means a planning advisory area under Section 17-79-303 that has a population density of 3,000 or more people per square mile within the boundaries of the planning advisory area. (4) "Surplus property" means land owned by a school district that: (a) was purchased with taxpayer money; (b) is located within a city or town that is an eligible entity or within a qualifying planning advisory area; (c) consists of one contiguous tract at least three acres in size; and (d) has been declared by the school district to be surplus.
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