If land acquired by the director under this chapter is suitable for industrial, commercial, residential, or recreational development, the director may sell the land:(1) by public sale under a system of competitive bidding at not less than fair market value; and(2) under other conditions that are adopted by the commission by rule to ensure that the land is put to proper use consistent with local and state land use plans.[Pre-1995 Recodification Citation: 13-4.1-15-8.]As added by P.L.1-1995, SEC.27.
Indiana Legal Code