Sec. 32.1073. FIXING ROYALTY, BONUS, AND RENTAL. In offering land for lease under this subchapter, the board may:
(1) set the royalty and rental and provide for bidding on a basis of the highest cash bonus offered; or
(2) set the cash bonus and rental and provide for bidding on the basis of the highest royalty offered.
Added by Acts 1985, 69th Leg., ch. 624, Sec. 23, eff. Sept. 1, 1985.
Structure Texas Statutes
Chapter 32 - School Land Board
Subchapter D. Sale and Lease of Land
Section 32.101. Applicable Law
Section 32.105. Date for Opening Bids
Section 32.106. Description of Land
Section 32.107. Notice of Sale, Lease, and Contract for Development
Section 32.1072. Minimum Royalty, Bonus, and Rental
Section 32.1073. Fixing Royalty, Bonus, and Rental
Section 32.109. Acceptance and Rejection of Bids
Section 32.110. Special Sale Fee
Section 32.111. Issuance of Award or Lease
Section 32.112. Sale of Tax Foreclosure Property
Section 32.113. Exemption From Certain Real Estate Transaction Laws