Tex. Educ. Code Section 111.37
Lease and Management of Land

(a)

The board may lease for oil, gas, sulphur, ore, and other mineral development all land under its exclusive control for the use of the university. The board may make and enter into pooling agreements, division orders, or other contracts necessary in the management and development of its land. All leases, pooling agreements, division orders, or other contracts entered into shall be on terms which the board deems in the best interest of the university. No lease shall be sold for less than the royalty and rental terms demanded at that time by the General Land Office in the sale of oil, gas, and other mineral leases of the public lands of the State of Texas.

(b)

All money received under and by virtue of the leases and contracts executed for the management and development of the land, except revenue pledged to the payment of revenue bonds or notes, shall be deposited to the credit of a special fund created by the board. The board shall designate a depository for the special fund and shall accord the money deposited in it the same protection by the pledging of assets of the depository as is required for the protection of public funds. Money deposited in the special fund may be used by the board for the administration of the university, for payment of principal of and interest on any revenue bonds or notes issued by the board, and for any other use or purpose which in the judgment of the board may be for the good of the university.
Acts 1971, 62nd Leg., p. 3272, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.

Source: Section 111.37 — Lease and Management of Land, https://statutes.­capitol.­texas.­gov/Docs/ED/htm/ED.­111.­htm#111.­37 (accessed Jun. 5, 2024).

111.01
University of Houston 111.02
Applicability of General Laws 111.11
Board of Regents 111.12
Appointments to Board 111.13
Qualifications of Members 111.14
Officers 111.15
Compensation 111.16
Meetings 111.17
Minutes 111.18
President 111.19
Personnel: Appointments, Salaries, Etc 111.20
University of Houston System 111.21
System Central Administration Office 111.31
Courses and Degrees 111.33
Suits 111.34
Contracts 111.35
Bylaws 111.36
Donations, Gifts, Endowments 111.37
Lease and Management of Land 111.38
Eminent Domain 111.39
Acquisition and Disposition of Land 111.41
Military Training 111.42
Business Technology Outreach Program 111.61
Creation of Center 111.62
Administration 111.63
Role and Scope of Center 111.64
Correlation of Programs 111.65
Receipt and Disbursement of Funds, Property, and Services 111.71
Establishment of Institute 111.72
Purpose 111.73
Activities 111.81
University of Houston-clear Lake 111.82
Organization and Control 111.83
Role and Scope 111.84
Advisory Committee 111.85
Authority of Coordinating Board 111.86
High School Cooperative Education Program 111.87
Junior College Cooperative Education Program 111.90
University of Houston-downtown 111.91
Organization and Control 111.92
Role and Scope 111.93
Authority of Coordinating Board 111.96
Establishment: Scope 111.97
Facilities 111.98
Courses 111.100
Establishment 111.101
Purpose 111.102
Powers and Duties 111.103
Research Coordination 111.104
Private Research 111.105
Grants and Federal Funds 111.106
State Funds 111.107
Personnel 111.121
Definitions 111.122
Establishment 111.123
Purpose 111.124
Powers and Duties 111.125
Collaboration with Other Entities 111.126
Gifts and Grants 111.127
Personnel 111.141
Definitions 111.142
Establishment 111.143
Powers and Duties 111.144
Collaboration with Other Entities 111.145
Gifts and Grants 111.146
Personnel 111.151
Definitions 111.152
The University of Houston College of Medicine 111.153
Courses and Degrees 111.155
Gifts and Grants 111.156
Other Facilities 111.157
Teaching Hospital
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 111.37’s source at texas​.gov