§ 8-22-2-13 — Sale of minerals or mineral rights

The board of an eligible entity may, upon
resolution of the board, sell the minerals or mineral rights or royalties,
or grant leases for the removal of a mineral in or under an airport or
landing field owned by the entity. They shall be sold or leased in the
same manner as land is sold or leased under this chapter, and the
proceeds derived from these sources shall be deposited with the
treasurer of the entity in the aviation fund of the entity and expended
as provided by statute for the proceeds of the sale of aviation lands.
However, no sale or lease for more than one (1) year may be made,
except to the highest and best bidder, after notice of sale or lease has
been given within the boundaries of the entity in accordance with IC 5-3-1, the last publication having been made at least one (1) week
before the date of the sale or lease.
[Pre-Local Government Recodification Citation:
19-6-1-14.]
As added by Acts 1980, P.L.8, SEC.73. Amended by Acts 1980,
P.L.78, SEC.1.