HomeLand Sale Auction Earns $362K for Public Schools, Teaching Colleges

Land Sale Auction Earns $362K for Public Schools, Teaching Colleges

The School and Institutional Trust Lands Administration (SITLA) sold four trust land parcels at its public auction October 30, earning $362,000 for Utah’s public schools and teaching colleges. SITLA generated $307,000 for public schools with the sale of three parcels: a 38-acre Otter Creek parcel in Piute County; 40-acre Rock Point parcel in Uintah County; and Yuba Lake parcel in Juab County. All proceeds from sales of these school trust lands are deposited into the Permanent School Fund. Interest and dividends from the nearly $2 billion trust fund are distributed annually to Utah’s public schools. Last year, K-12 schools received just under $40 million. Sale of an additional 9.5-acre parcel in Rich County generated $55,000 for teaching colleges at Utah’s state universities

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