Opinion ID: 3053418
Heading Depth: 4
Heading Rank: 1

Heading: Overview of Idaho Endowment Lands

Text: The lands Lazy Y tried to lease are known as “endowment lands.” Endowment lands are controlled by the Idaho State Board of Land Commissioners, also called the “Land Board.” Idaho Const., Art. IX § 7. The Land Board must “carefully preserve[ ]” the endowment lands and manage them “in such manner as will secure the maximum long-term financial return to the institution to which [the land is] granted.” Id. § 8. The Land Board has designated the lands at issue here to be leased to private entities for the benefit of public schools. Under state law, leases on public school endowment lands may not exceed 10 years (subject to exceptions not relevant here). Idaho Code § 58-307(1). At the beginning of every calendar year, the Idaho Department of Lands (“IDL”) gives public notice of all 10-year leases that are expiring on December 31 of that year and offers new 10-year leases to qualified members of the public. When the IDL receives more than one qualified application for the same lease, the IDL “shall . . . auction off and lease the land to the applicant who will pay the highest premium bid therefore.” Id. § 58-310(1). The IDL’s auction is not necessarily final, however, as the Land Board has the power to overturn it. See id. § 58-310(4).