Idaho buys timberland for state endowment investment
BOISE, Idaho (AP) — The Idaho Department of Lands says the state has purchased roughly 50 square miles (80 square kilometers) of timberland in northern Idaho.
The Idaho Press reports the state paid more than $42 million for the land, using endowment money earned by the auction of formerly state-owned lake cabin sites and some commercial properties. The endowments’ earnings support public schools, universities and other state institutions.
Logging is the biggest source of revenue from state endowment lands.
The new timberland purchases include properties in Boundary, Bonner, Benewah, Shoshone and Latah counties.
Information from: Idaho Press, http://www.idahopress.com