Oct 19, 2012 - By Mead Gruver, The Associated PressCHEYENNE -- A lawsuit is postponing plans by University of Wyoming Foundation and Colorado State University Research Foundation to sell a ranch they jointly own in southeast Wyoming.
The foundations announced the postponement Friday, saying the lawsuit could affect the marketability of the Y Cross Ranch. Unsealing of bids on the ranch had been scheduled for Nov. 13 and now will wait until the lawsuit's resolution.
Denver philanthropist Amy Davis sued last month. The Y Cross had belonged to Davis's family before she donated it to the foundations in 1997.
Davis wants a court to rescind the gift agreement and establish a trust to ensure that the ranch is used for agriculture education.
Foundation officials say the ranch wasn't a practical place for learning and say the sale would fund agriculture scholarships.
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