Untitled Texas Attorney General Opinion ( 1944 )

Hon. T. R. Johnston Opinion No. O-5973 County Attorney Rer Whether bonus and rental from oil Reagan County and gas leases on county school lands Big Lake, Texas belong to permanent or available school fund. Dear Sir: We acknowledgereceipt of your letter submittingthe following statement and asking the following question: "STATEMENT- Reagan County has leased.708.48 acres of land belonging to the Permanent School Fund of the County for oil ana gas for a considerationof $2,167.95 bonus and $1.00 per year delay rentals. "QUESTION - Does the bonus from an oil and gas lease on land belonging to the Permanent School Fund belong in the permanent or available school fund? Does the delay rentals under a lease of land belonging to the Permanent School Fund of a County go to the permanent or available school fund?1' Our answer is that both the bonus and.rentals from the oil and gas lease on County school land must be deposited in the Permanent School Fund. For a further discussion of the question and citation of authorities,see our Opinion NO. O-4933, approved November 7, 1942, copy of which is attached. Yours very truly APPROVED APB 24, 1944 ATTORNEY GENERAL OF TEXAS /s/ Geo. P. Blackburn (Acting) ATTORNEY GENERAL By /s/ Fagan Dickson OF TEXAS Fagan Dickson, Assistant APPROVED:;X&NICNCK&TT~ BY: , FDrBT:wb .