Texas Education Code

§ 109.158 — ACCEPTANCE AND FILING OF BIDS; TERMINATION OF LEASE

ED § 109.158Title 3. HIGHER EDUCATION · Part F. OTHER COLLEGES AND UNIVERSITIES · Ch. 109. TEXAS TECH UNIVERSITY SYSTEM · Art. D. MINERAL DEVELOPMENT IN UNIVERSITY LAND

Statute text

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(a)If the board determines that a satisfactory bid has been received for the oil, gas, sulphur, or other mineral lands, it shall accept the bid and reject all others and shall file the accepted bid in the general land office.

(b)If before the expiration of five years oil, gas, sulphur, or other minerals have not been produced in paying quantities, the lease shall terminate unless extended as provided in Sections 109.160 and 109.161. Amended by:

Legislative history

Acts 2015, 84th Leg., R.S., Ch. 1173 (S.B. 907), Sec. 9, eff. June 19, 2015.