Tex. Educ. Code Section 85.54
Placing Leases on Market; Advertising

(a)

Whenever, in the opinion of the board, there is a demand for the purchase of oil, gas, sulphur, mineral ore, or other mineral leases on any tract or part of any tract of land that will reasonably insure an advantageous sale, the board shall place the oil, gas, sulphur, mineral ore, or other mineral leases on the land on the market in any tract or tracts, or any part thereof, that the board may designate.

(b)

The board shall cause to be advertised a brief description of the land from which the oil, gas, sulphur, mineral ore, or other minerals is proposed to be leased. The advertisement shall be made by inserting in two or more papers of general circulation in this state; and in addition the board may, in its discretion, cause the advertisement to be placed in an oil and gas journal published in and out of the state, mail copies of the proposals to the county judge of the county where the lands are located, and mail copies of the proposals to other persons the board thinks would be interested.

Acts 1971, 62nd Leg., p. 3196, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.

Source: Section 85.54 — Placing Leases on Market; Advertising, https://statutes.capitol.texas.gov/Docs/ED/htm/ED.85.htm#85.54 (accessed May 18, 2024).

85.01
Definitions 85.11
Board of Regents 85.12
Qualifications 85.13
Certificate of Appointment 85.14
Chairman of Board 85.15
Expenses of Regents 85.16
Seal 85.17
System Central Administration Office 85.18
Mandatory Venue 85.21
General Powers and Duties 85.22
Expenditures 85.23
Permanent Improvements 85.24
Utilities 85.25
Lands and Mineral Interests 85.26
Leases and Easements 85.27
Flood Control Easements 85.28
Airports 85.29
Research and Experimentation for Texas Department of Transportation 85.30
Donations and Trusts 85.31
Funds Received for Trust Services 85.32
Eminent Domain 85.51
Authority to Lease 85.52
Sale of Mineral Ore in Place 85.53
Tracts, Lots, Blocks 85.54
Placing Leases on Market 85.55
Public Auction 85.56
Subsequent Procedure if No Bids Accepted 85.57
Withdrawal of Land Advertised 85.58
Acceptance of Bids 85.59
Exploratory Term 85.60
Discontinuance of Yearly Payments 85.61
Operations Under Lease: Effect on Rental Payments, Term of Lease 85.62
Proration or Reduction of Production 85.63
Interference with Surface Uses 85.64
Protection from Drainage 85.65
Rights of Purchaser 85.66
Royalty Payments 85.67
Forfeiture 85.68
Filing of Records 85.69
Payments 85.70
Certain Mineral Leases 85.71
Forms

Accessed:
May 18, 2024

§ 85.54’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._educ._code_section_85.54

Original Source: Section 85.54 — Placing Leases on Market; Advertising, https://statutes.capitol.texas.gov/Docs/ED/htm/ED.85.htm#85.54 (last accessed May 18, 2024).