Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: 1921 SECOND STEP. PART B. (Maximum Legal Selling Price of Farms in Transactions between Private Interests.) Part B of this step should be introduced about the same time as Part A. The object is to determine and put into effect as nearly as practicable a maximum legal selling price for any State Settlement Farm in cases of sale between private persons or interests. This price would have to equal tKe money value of: a. Raw land (including appurtenant public im provements paid prior to purchase of the land by the State). b. Appurtenant general public improvements (paid subsequent to the original purchase of the raw land by the State). c. Appurtenant special public improvements (paid subsequent to the original purchase of the raw land by the State). d. Private improvements (including growing crops). e. Excess payment on private improvements. f. Initial overhead cost. g. Excess payments on initial overhead cost, h. Special features, such as give but little, if any, economic advantage. The maximum legal selling price, however, must not include anything for site value (the supposed money value of any appreciable economic advantage due to location or other causes). Explanation Regarding Above Values. The value of raw land, general public improvements, special public improvements, private improvements and initial overhead cost must ,be the same in amount as in cases of condemnation of the farm by the Public. These amounts will be ascer- tainable mostly from public records. Pending a period of practical experience in the matter, excess payments on private improvements might be considered permissible when the purchaser believes that this item in a particular instance has such excess in value for him, and is ready to accept the risk of...