1-1     By:  Alexander (Senate Sponsor - Nixon)               H.B. No. 1494
 1-2           (In the Senate - Received from the House March 29, 1999;
 1-3     March 30, 1999, read first time and referred to Committee on
 1-4     Natural Resources; May 10, 1999, reported favorably by the
 1-5     following vote:  Yeas 6, Nays 0; May 10, 1999, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to limited rights to purchase certain permanent school
 1-9     fund minerals other than oil and gas in Henderson County.
1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11           SECTION 1.  (a)  The School Land Board may sell the minerals,
1-12     other than oil and gas, dedicated to the permanent school fund
1-13     under, in, or on either of certain tracts in Henderson County to a
1-14     qualified applicant as provided by this Act if the board determines
1-15     that the sale is in the best interests of the permanent school
1-16     fund.
1-17           (b)  To qualify as an applicant, a person must be a natural
1-18     person who:
1-19                 (1)  owns the entire surface estate in either of two
1-20     tracts in the E. B.  LaRue, Jr. Survey in Henderson County further
1-21     described as follows:  an 18.077 acre tract known as the North Part
1-22     of the E. B. LaRue, Jr., MA-44970, General Land Office School File
1-23     #154375; and, an 11.609 acre tract known as the Mid Part of the E.
1-24     B. LaRue, Jr. Survey, MA-44970, General Land Office School File
1-25     154374;
1-26                 (2)  occupies or uses the surface of either tract
1-27     described by Subdivision (1) for purposes other than exploring for,
1-28     removing, leasing, or otherwise conveying or developing minerals or
1-29     geothermal resources from the tract; and
1-30                 (3)  submits an application and any information
1-31     required by the School Land Board to determine the qualifications
1-32     of the applicant to receive the right to purchase the minerals,
1-33     other than oil and gas, under, in, or on either tract.
1-34           (c)  The sale under this Act of minerals other than oil and
1-35     gas must be at the fair market value of those minerals as
1-36     determined by the School Land Board and on the terms and conditions
1-37     the board determines to be in the best interest of the permanent
1-38     school fund.  The board may retain up to a one-sixteenth free
1-39     royalty interest in the minerals to protect the state's interests
1-40     if the minerals are leased or developed at a later date.
1-41           (d)  The person applying to purchase minerals other than oil
1-42     and gas under this Act must submit a written application to the
1-43     School Land Board not later than the first anniversary of the
1-44     effective date of this Act.
1-45           SECTION 2.  The importance of this legislation and the
1-46     crowded condition of the calendars in both houses create an
1-47     emergency and an imperative public necessity that the
1-48     constitutional rule requiring bills to be read on three several
1-49     days in each house be suspended, and this rule is hereby suspended,
1-50     and that this Act take effect and be in force from and after its
1-51     passage, and it is so enacted.
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