Indiana Statutes
§ 14-35-1-5 — Proposal or bid for mining privilege
(a)A proposal or bid made in response to a
request under section 4 of this chapter must offer the following:
(1)A royalty on a percentage basis, based on the commodity
value at the mine, pit, or quarry.
(2)A bonus, or fixed fee per acre, in addition to royalty.
(b)A royalty may not be less than that generally prevailing for the
resource to be extracted under similar methods of mining.
[Pre-1995 Recodification Citation: 14-3-2-6 part.]
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Legislative History
As added by P.L.1-1995, SEC.28.
Nearby Sections
15
§ 14-10-1-1
Establishment and members of commission§ 14-10-1-2
Filling of vacancies of ex officio members§ 14-10-1-3
Citizen members§ 14-10-1-4
Per diem compensation and traveling expenses§ 14-10-1-5
Officers§ 14-10-1-6
Quorum§ 14-10-1-7
Meetings§ 14-10-2-1
Powers of commission§ 14-10-2-2
Repealed§ 14-10-2-2.5
Consolidated proceedings§ 14-10-2-3
Repealed§ 14-10-2-4
Adoption of rules§ 14-10-2-5
Rules§ 14-10-2-6
Notices of violation