13-24-5. Oil and gas exploration and development leases authorized--Private or public sale.
The school board of any school district in this state is hereby authorized and empowered to lease its grounds, or any part thereof, for oil and gas exploration and development, for a primary term not to exceed ten years and as long thereafter as oil or gas is or can be produced. Such sale may be at private or public sale, and with or without notice, as may be provided in the resolution of the school board authorizing the same.
Source: SL 1941, ch 72, §1; SL 1955, ch 41, ch 11, §4; SDC Supp 1960, §15.2104.