July 11-12, 2002

ITEM 116-2801-R0702   Purchase of Property, 1325 11th Avenue, Havre, MT Montana State University-Northern

*** This item supersedes previous item #115-2802-R0502 which was approved by the Board of Regents in May 2002.

 

THAT:  The Board of Regents authorizes Montana State University Northern to purchase property located at 1325 11th Avenue, Havre, Montana to be used as the residence for the chancellor for the purchase price of $217,000. The purchase price will be funded from insurance proceeds received from the settlement reached on the previous chancellor's residence.

EXPLANATION:  In February 2000, the house previously used as the residence for the chancellor was permanently damaged and is in the process of being completely demolished. The State of Montana Risk Management and Tort Defense Division has settled with the insurance company for $217,000.