Land sale auction earns $362,000 for public schools, colleges

SALT LAKE CITY – The School and Institutional Trust Lands Administration sold four parcels of trust land at its public auction held Oct. 30, earning $362,000 for Utah’s public schools and teaching colleges.

The School and Institutional Trust Lands Administration, also known as SITLA, generated $307,000 for public schools with the sale of three parcels: a 38-acre Otter Creek parcel in Piute County; a 40-acre Rock Point parcel in Uintah County; and a Yuba Lake parcel in Juab County. All proceeds from the sale 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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