Mich. Comp. Laws § 322.301: Unimproved and unsold school and university lands; minimum price; public auction.

Sec. 1.

The minimum price of the unsold and unimproved university lands, shall be 12 dollars per acre, and the minimum price of the unsold and unimproved school lands shall be 4 dollars per acre; but no such lands shall be otherwise sold until they shall once have been offered for sale at public auction, and no such lands shall be sold for less than the aforesaid prices respectively, nor shall any treasury notes or warrants be received for university lands hereafter forfeited to the state.