Chapter 70: Execution of Instruments
70.050 Real Estate, Licenses and Rights-of-Way
Bd. Min. 3-6-52, p. 5,906; Bd. Min. 4-19-69, p. 34,497, Bd. Min. 6-29-79, Amended Bd. Min. 5-3-91, Amended Bd. Min. 12-15-95, Amended Bd. Min. 5-5-06.
- The President shall have the authority to acquire and sell real property, execute rental agreements and leases covering real property, accept real property, execute mineral leases and sale of mineral rights, and grant licenses for use of copyright materials or patents of the University, in conformance with these Collected Rules and Regulations.
- The President shall have the authority to acquire property from the UMKC Trustees without obtaining appraisals.
- Board of Curators approval shall be obtained for:
- Property purchases costing more than $500,000 or if more than appraised values or if not within campus master plans or research parks.
- Property sales costing more than $500,000 or if less than appraised values or if within campus boundaries or research parks.
- Property leases for more than $500,000 per year or for more than five years.
- Easements and rights-of-way to entities other than utility companies or governmental entities, in which case the President shall be authorized to enter into these agreements with these entities provided the agreement will not significantly impair the use of the property or decrease the value of University property. The President shall also be authorized to enter into temporary easements and rights-of-way with any entity for a period up to six months.