Sec. 60.036. SECURITY FOR BID ON OIL, GAS, OR MINERAL LEASES. Each bid submitted shall be accompanied by a certified check, cashier's check, or bidder's bond with a responsible corporate surety authorized to do business in Texas. The check or bond shall be in an amount equal to the first rental payment and bonus offered for the lease over and above the royalty and shall guarantee that the bidder will perform the terms of his bid if it is accepted by the commission.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 60 - Navigation Districts--General Provisions
Subchapter C. Additional Powers and Duties of Certain Districts
Section 60.031. Application of Subchapter
Section 60.032. Authority to Construct Improvements
Section 60.033. Use of Equipment
Section 60.034. Oil, Gas, and Mineral Leases
Section 60.035. Notice of Certain Oil, Gas, and Mineral Leases
Section 60.036. Security for Bid on Oil, Gas, or Mineral Leases
Section 60.037. Award and Execution of Oil, Gas, and Mineral Leases
Section 60.038. Sale or Lease of Land
Section 60.0381. Conveyance of Land by Certain Navigation Districts
Section 60.040. Publication of Notice for Sales, Easements, and Leases in Excess of 50 Years
Section 60.041. Security for Bids on Real Property to Be Sold or Leased for More Than 50 Years
Section 60.042. Award and Execution of Deed or Lease in Excess of 50 Years