There is created an advisory committee to the Board of Trustees of State Institutions of Higher Learning for the lease of the property described in Sections 37-101-41, 37-101-43 and 37-101-44, which shall be composed of the following members:
The respective Chairmen of the Public Property Committees of the House of Representatives and the Senate;
The respective Chairmen of the Universities and Colleges Committees of the House of Representatives and the Senate;
One (1) member of the House of Representatives, to be appointed by the Speaker of the House; and
One (1) member of the Senate, to be appointed by the Lieutenant Governor.
Before selecting the private developer to which to lease the property described in Sections 37-101-41, 37-101-43 and 37-101-44, and while negotiating the terms of the lease with the private developer that has been selected, the Board of Trustees of State Institutions of Higher Learning shall consult with the advisory committee and consider any suggestions and recommendations made by the advisory committee regarding the lease of the property.