Contract: A legal written agreement that becomes binding when signed.
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(1) in accordance with the criteria set out in Alaska Stat. § 38.06.070, develop a plan for the wise development of the state‘s oil and gas royalty interests; the plan of development shall be consistent with
(A) growth of the private sector of the economy;(B) environmental standards required by law; and(C) public fiscal stability;(2) hold public hearings on proposed sales, exchanges, or other disposals of royalty oil or gas to determine whether the proposals comply with Alaska Stat. § 38.06.070;(3) examine proposed sales, exchanges, or other disposal of, and recommend to the legislature that it approve or disapprove a proposed sale, exchange, or other disposal of
(A) the oil or gas that is obtained by the state as royalty under Alaska Stat. § 38.05.182; or(B) the rights to receive future oil or gas production under state leases; and(4) recommend to the commissioner of natural resources the conditions relating to the sale, delivery, transportation, refining, or processing of oil or gas which the commissioner may include in the offer and sale of oil or gas obtained by the state as royalty under Alaska Stat. § 38.05.182.(b) The board may
(1) direct the commissioner of natural resources to solicit development plans or bids consistent with the criteria set out in Alaska Stat. § 38.06.070 for
(A) the sale, exchange, or other disposal of oil or gas obtained by the state as royalty under Alaska Stat. § 38.05.182; or(B) the sale, exchange, or other disposal of all or a portion of the rights to receive future oil or gas production under a state lease;(2) employ an executive director, and contract for the services of professionals, persons with knowledge of economics and other disciplines, and persons with technical skills who may be necessary to assist the board in the exercise of its powers and duties; and(3) adopt regulations under the Administrative Procedure Act (Alaska Stat. Chapter 44.62) that are necessary for the exercise of its powers and duties.
