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. 1-52 * * * * *