Texas Education Code 11.153 – Sale of Minerals
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(a) Minerals in land belonging to an independent school district may be sold to any person under this section.
(b) The sale must be authorized by a resolution adopted by majority vote of the board of trustees of the school district.
Terms Used In Texas Education Code 11.153
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) After adoption of a resolution under Subsection (b), the president of the board of trustees may execute an oil or gas lease or sell, exchange, and convey the minerals. The mineral deed or lease must recite the approval of the resolution of the board authorizing the sale.