Texas Education Code
§ 66.64 — POWERS AND DUTIES OF THE BOARD
ED § 66.64Title 3. HIGHER EDUCATION · Part C. THE UNIVERSITY OF TEXAS SYSTEM · Ch. 66. PERMANENT UNIVERSITY FUND · Art. D. BOARD FOR LEASE OF UNIVERSITY LANDS
Statute text
View on source(a)The board shall in a manner consistent with this subchapter:
(1)lease university lands for oil and gas exploration and development on terms, at times, and in the manner it may determine;
(2)contract for the sale or other disposition of oil and gas royalties taken in kind;
(3)adopt rules and policies for the administration and enforcement of this subchapter and leases issued under this subchapter;
(4)set fees and penalties for the administration and enforcement of this subchapter;
(5)set the terms of a contract for the development of university lands for oil and gas;
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Legislative history
Amended by Acts 1997, 75th Leg., ch. 1324, Sec. 1, eff. Jan. 1, 1998.