Idaho Statutes Title 47. Mines and Mining § 47-1605. Leases--Rental and royalty
Current as of January 01, 2023 | Updated by FindLaw Staff
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(1) Geothermal resources leases shall be issued at an annual rental of not less than twenty-five cents (25¢) per acre, payable in advance. The rental specified in geothermal leases shall be fixed in any manner by the state board of land commissioners including, but not limited to, competitive bidding, negotiation, fixed amounts or formulas.
(2) Royalty shall be established by the board of land commissioners based on the market value of the geothermal resources produced from the lands under lease. The royalties specified in geothermal leases shall be fixed in any manner by the state board of land commissioners including, but not limited to, competitive bidding, negotiation, fixed amounts or formulas. Royalties shall be paid in addition to rental payments, at the discretion of the board of land commissioners.
Cite this article: FindLaw.com - Idaho Statutes Title 47. Mines and Mining § 47-1605. Leases--Rental and royalty - last updated January 01, 2023 | https://codes.findlaw.com/id/title-47-mines-and-mining/id-st-sect-47-1605.html
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