47-1605 LEASES -- RENTAL AND ROYALTY.
MINES AND MINING
CHAPTER 16
GEOTHERMAL RESOURCES
47-1605. Leases -- Rental and royalty. Geothermal resources leases shall be issued at an annual rental of not less than twenty-five cents (25¢) per acre, payable in advance and a royalty which shall not be less than ten per cent (10%) of the geothermal resources produced from the lands under lease or the value thereof. The rentals and the royalties specified in geothermal leases shall be fixed in any manner, including but not limited to competitive bidding, or according to any formula as the state board of land commissioners finds will maximize public benefits from such leases. Royalties shall be paid in addition to rental payments, at the discretion of the board of land commissioners.