1-1 AN ACT 1-2 relating to limited rights to purchase certain permanent school 1-3 fund minerals other than oil and gas in Henderson County. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. (a) The School Land Board may sell the minerals, 1-6 other than oil and gas, dedicated to the permanent school fund 1-7 under, in, or on either of certain tracts in Henderson County to a 1-8 qualified applicant as provided by this Act if the board determines 1-9 that the sale is in the best interests of the permanent school 1-10 fund. 1-11 (b) To qualify as an applicant, a person must be a natural 1-12 person who: 1-13 (1) owns the entire surface estate in either of two 1-14 tracts in the E. B. LaRue, Jr. Survey in Henderson County further 1-15 described as follows: an 18.077 acre tract known as the North Part 1-16 of the E. B. LaRue, Jr., MA-44970, General Land Office School File 1-17 #154375; and, an 11.609 acre tract known as the Mid Part of the E. 1-18 B. LaRue, Jr. Survey, MA-44970, General Land Office School File 1-19 154374; 1-20 (2) occupies or uses the surface of either tract 1-21 described by Subdivision (1) for purposes other than exploring for, 1-22 removing, leasing, or otherwise conveying or developing minerals or 1-23 geothermal resources from the tract; and 1-24 (3) submits an application and any information 2-1 required by the School Land Board to determine the qualifications 2-2 of the applicant to receive the right to purchase the minerals, 2-3 other than oil and gas, under, in, or on either tract. 2-4 (c) The sale under this Act of minerals other than oil and 2-5 gas must be at the fair market value of those minerals as 2-6 determined by the School Land Board and on the terms and conditions 2-7 the board determines to be in the best interest of the permanent 2-8 school fund. The board may retain up to a one-sixteenth free 2-9 royalty interest in the minerals to protect the state's interests 2-10 if the minerals are leased or developed at a later date. 2-11 (d) The person applying to purchase minerals other than oil 2-12 and gas under this Act must submit a written application to the 2-13 School Land Board not later than the first anniversary of the 2-14 effective date of this Act. 2-15 SECTION 2. The importance of this legislation and the 2-16 crowded condition of the calendars in both houses create an 2-17 emergency and an imperative public necessity that the 2-18 constitutional rule requiring bills to be read on three several 2-19 days in each house be suspended, and this rule is hereby suspended, 2-20 and that this Act take effect and be in force from and after its 2-21 passage, and it is so enacted. _______________________________ _______________________________ President of the Senate Speaker of the House I certify that H.B. No. 1494 was passed by the House on March 25, 1999, by the following vote: Yeas 140, Nays 0, 2 present, not voting. _______________________________ Chief Clerk of the House I certify that H.B. No. 1494 was passed by the Senate on May 24, 1999, by the following vote: Yeas 30, Nays 0. _______________________________ Secretary of the Senate APPROVED: _____________________ Date _____________________ Governor