The board of university and school lands may lease any lands under its control believed to contain oil, gas, coal, cement materials, sodium sulfate, sand and gravel, road material, building stone, chemical substances, metallic ores, colloidal or other clays, or other naturally occurring elements and their compounds, and may make and establish rules and regulations for development, drilling, and mining operations.

Terms Used In North Dakota Code 15-05-09

  • 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