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2025 Texas Statutes
Water Code
Title 4 - General Law Districts
Chapter 60 - Navigation Districts--General Provisions
Subchapter C. Additional Powers and Duties of Certain Districts
Section 60.036. Security for Bid on Oil, Gas, or Mineral Leases
Universal Citation:
TX Water Code § 60.036 (2025)
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Sec. 60.036. SECURITY FOR BID ON OIL, GAS, OR MINERAL LEASES. Each bid submitted shall be accompanied by a certified check, cashier's check, or bidder's bond with a responsible corporate surety authorized to do business in Texas. The check or bond shall be in an amount equal to the first rental payment and bonus offered for the lease over and above the royalty and shall guarantee that the bidder will perform the terms of his bid if it is accepted by the commission.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
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