65A-4-3. Mineral leases — Made exclusively by division — Disposition of state mineral lease revenues.
- (1) Mineral leases of all lands owned by the state, except school and institutional trust lands, shall be made exclusively through the division, pursuant to division rules, with the consent of the state agency using or holding the land.
- (2)
- (a) All revenues from mineral leases of sovereign lands shall be deposited in the Sovereign Lands Management Account.
- (b) That portion of all revenues from mineral leases on other lands managed by the division necessary to recover management costs shall be deposited in the Sovereign Lands Management Account.
- (c) The balance of state mineral lease revenues shall be utilized as directed by the agency or donor.
Amended by Chapter 294, 1994 General Session