§ 30-11-302 — Oil, gas, and mineral rights - reservation of - sale

(1) In any sale
of county lands made by any county acting through its board of county
commissioners, a valid reservation of oil and gas and other minerals in such lands
may be made when in the opinion of the board of county commissioners it is
deemed to be for the best interest of the county. Oil and gas and other mineral
rights or any of them thus reserved by a county upon the sale of such real estate
may be sold by order of the board of county commissioners at public sale to the
highest and best bidder after four weeks' prior notice by publication two times in a
newspaper of general circulation in the county in which the land is situated, said
notice to describe the oil and gas or other mineral rights to be sold, the location of
the land involved, and the date, time, and place of such sale; but a copy of said
notice shall be mailed, postage prepaid, by the board of county commissioners to
the owner of the surface at the time of such notice as shown by the records in the
office of the county assessor of the county in which such lands are situated at the
last-known address of such owner as shown by said books of the county assessor,
and that a copy of said notice shall be mailed, postage prepaid, by the board of
county commissioners to the person in possession of the surface.

(2) In the sale of reserved oil and gas rights under any tract of land, the
number of acres contained in any one parcel or unit of sale of such rights shall not
exceed the total number of acres of such surface land sold by the county to the
purchaser thereof at the time of reservation therefrom of the oil and gas rights thus
offered for sale. Nothing contained in this section shall prevent a county from
selling any number of such units or parcels at any public sale. The board of county
commissioners has the right to reject any and all bids.

(3) Mineral rights, other than oil and gas, reserved as provided in this section
may be leased for exploration, development, and production purposes upon such
terms and conditions as may be prescribed and contracted by the board of county
commissioners in the exercise of its best judgment and as such board deems to be
for the best interests of the county. Any such lease of mineral rights, other than oil
and gas, shall be for a term not to exceed twenty-five years and as long thereafter
as such minerals are produced. Leases of any such mineral rights made or entered
into by the board in conformity with the provisions of this section prior to February
25, 1955, are hereby confirmed, validated, and declared to be legal and valid insofar
as the authority of any such board is concerned.

Legislative History

Source: L. 49: p. 326, � 1. CSA: C. 45, � 25(1). CRS 53: � 36-11-1. L. 55: p. 255, � 1. C.R.S. 1963: � 36-11-1.