(1) Any agency of the State of Oregon may donate to any person, firm or corporation selected by such governmental body, conditionally or otherwise, for industrial or manufacturing purposes, or both, and purposes incidental thereto, any real property owned by the governmental body and not needed or likely to be needed for public use.
(2) The donation must include a condition that whenever the donee or successor in interest ceases to use the property for the donated purpose the title to the property shall revert to the donor.
(3) The gift shall be made by statute or formal order and the terms and conditions of the gift shall be set forth in such statute or order. [1981 c.787 §16]
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