49-7-18. Payment for school and public lands taken--Valuation--Governor's deed--Reverter. Before a pipeline is constructed over school and public lands, payment of the full value of the lands so taken must be made, the value to be ascertained by the commissioner of school and public lands or, in the event of disagreement, by the circuit court in the manner provided for a condemnation proceeding, the Governor shall convey by deed of right-of-way, to the pipeline company constructing the pipeline, the right to hold and use such lands for such purposes only as authorized by this chapter. The deed shall be executed in the name of the state by the Governor, under the great seal of the state, and attested by the commissioner of school and public lands, under the seal of his office. The deed shall contain the provisions that should the land cease to be used, for a period of two years, for the purpose for which the deed was granted, the right-of-way shall revert to the state.
Source: SL 1980, ch 321, § 8.
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