10.1-111 - Removal of minerals. - Virginia Statutes

§ 10.1-111. Removal of minerals.

The Director, with the approval of the Governor, is authorized to make andexecute leases, contracts or deeds in the name of the Commonwealth, for theremoval or mining of minerals that may be found in Departmental landswhenever it appears to the Director that it would be in the best interest ofthe Commonwealth to dispose of these minerals. Before any deed, contract orlease is made or executed, it shall be approved as to form by the AttorneyGeneral, and bids therefor shall be received after notice by publication onceeach week for four successive weeks in two newspapers of general circulation.The Director shall have the right to reject any or all bids and toreadvertise for bids. The accepted bidder shall give bond with good andsufficient surety to the satisfaction of the Director, and in any amount thatthe Director may fix for the faithful performance of all the conditions andcovenants of the lease, contract or deed. The proceeds arising from anycontract, deed, or lease shall be deposited into the state treasury to thecredit of the State Park Conservation Resources Fund established insubsection A of § 10.1-202.

(1978, c. 835, § 10-17.114; 1980, c. 451; 1984, c. 739; 1987, c. 453; 1988,c. 891; 2003, cc. 79, 89.)