19-110. Leasing of lands for oil, gas or other minerals; royalty.
19-110
19-110. Leasing of lands for oil, gas or other minerals; royalty.
The board of county commissioners of any county in this state is hereby
authorized and empowered to lease county-owned lands in fee simple, or any
part thereof, for the production of oil, gas, or other minerals, for a term
of not to exceed five (5) years, and so long thereafter as oil, gas, or
other minerals may be produced therefrom in paying quantities. Each such
lease shall be upon the usual standard form of mineral lease customarily
used in the vicinity of said lands, and shall contain the usual provisions
of such standard form of lease, including the annual delay rental paragraph
found in all standard mineral, oil, and gas lease forms: Provided,
however, That there shall be reserved to the county a royalty of not
less than one eighth (1/8) part of the oil, gas, or other minerals produced
from the leased premises, or in lieu thereof payment to the county of the
market value of such royalty interest as provided in said lease.
History: L. 1937, ch. 204, § 1; March 29.