Texas Education Code

§ 85.51 — AUTHORITY TO LEASE

ED § 85.51Title 3. HIGHER EDUCATION · Part D. THE TEXAS A & M UNIVERSITY SYSTEM · Ch. 85. ADMINISTRATION OF THE TEXAS A & M UNIVERSITY SYSTEM · Art. D. LEASE OF LANDS FOR OIL, GAS, AND OTHER MINERAL DEVELOPMENT

Statute text

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(a)The board may lease for oil, gas, sulphur, mineral ore, and other mineral developments all lands and mineral interests under its control, owned or in the future acquired by the state for the use of the university system.

(b)The board shall offer oil and gas leases at public auction, by sealed bid, by negotiated agreement, or through any other means that the board considers to be in the best interest of the university system.

Legislative history

Acts 1971, 62nd Leg., p. 3196, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971. Amended by Acts 2003, 78th Leg., ch. 1266, Sec. 4.09, eff. June 20, 2003.