Retention of mineral and geothermal resource rights by state
- • exploration permit or lease
- • sale or exchange
- • exception
(1) Mineral and geothermal resource rights in property owned by any state agency and mineral and geothermal resource rights retained as an interest in lands previously sold, granted or otherwise conveyed by the state or any agency thereof are property of the State of Oregon. Except as provided in ORS 273.785 (Application of ORS 273.551 and 273.775 to 273.790), proceeds therefrom shall accrue to the Common School Fund, and the State Land Board is declared to be the state agency acting for the state in any transaction respecting such mineral and geothermal resource rights.
(2) In addition to applicable requirements of ORS chapter 522, such mineral and geothermal resource rights shall be subject to exploration permit or lease by the Department of State Lands, in accordance with rules and conditions established by law or adopted by the department.
(3) The mineral and geothermal resource rights shall be retained by the state in the absence of a finding by the State Land Board upon adequate facts presented to it that their sale or exchange is for the purpose of obtaining the greatest benefit for the people of this state, consistent with the conservation of lands under its jurisdiction under sound techniques of land management.
(4) Notwithstanding subsection (3) of this section, when the Department of State Lands offers real property for sale, the department may not retain the rights to mineral or geothermal resources if:
(a) On January 1, 2004, the real property was located:
(A) Inside an urban growth boundary; or
(B) Within an area zoned for residential use on a lot or parcel that is three acres or smaller in size; and
(b) The value, if any, of the rights to the mineral or geothermal resources is included in the total sale price of the real property. [1974 c.51 §2; 1975 c.552 §40; 2005 c.60 §2]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information