Texas Education Code - Section 85.58. Acceptance Of Bids; Award Of Lease
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§ 85.58. ACCEPTANCE OF BIDS; AWARD OF LEASE. (a) If in
the opinion of the board any one of the bidders has offered a
reasonable and proper price for any tract and not less than the
price fixed by the board, the lands advertised may be leased for
oil, gas, sulphur, mineral ore, and other mineral purposes under
the provisions of this subchapter and any regulations the board may
prescribe which are not inconsistent with the provisions of this
subchapter.
(b) On acceptance of a bid, the board shall prepare a lease
contract. The bid and a copy of the lease contract shall be filed in
the general land office.
Acts 1971, 62nd Leg., p. 3197, ch. 1024, art. 1, § 1, eff. Sept.
1, 1971.
Section: 85.51 85.52 85.53 85.54 85.55 85.56 85.57 85.58 85.59 85.60 85.61 85.62 85.63 85.64 85.65
Last modified: August 10, 2007
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