1998 Minnesota Statutes

     93.202 Taconite leases.  

    In any case where, pursuant to a permit holder's 
 application for a lease in which it is indicated in the 
 application that the holder considers the lands covered by the 
 permit to be principally valuable for the taconite thereon or 
 that the holder desires a taconite lease thereon, the 
 commissioner of natural resources heretofore shall have issued a 
 lease in which was inserted in the blank provided for the amount 
 of the first quarterly payment the figure representing the 
 reduced quarterly rental for taconite leases, as herein 
 provided, and shall have designated such lease a "taconite 
 lease" or a "taconite iron ore mining lease" upon the lease or 
 upon the commissioner's records, such act shall be construed as 
 a determination that such lands were principally valuable for 
 the taconite thereon and had no substantial value because of 
 merchantable deposits of ores of the kinds defined in Laws 1941, 
 chapter 546, section 5, schedules 1 to 6, and such lease so 
 issued shall be valid as a lease designated a "taconite iron ore 
 mining lease," and subject to the right of the executive council 
 to redetermine the classification of the mining unit covered 
 thereby in the manner provided by section 93.19, and subject to 
 the provisions of sections 93.15 and 93.201.  Any lessee 
 desiring the protection of this section shall file with the 
 commissioner of natural resources, within 90 days from the 
 approval of Laws 1943, chapter 233, written consent to the 
 application of all provisions of Laws 1943, chapter 233, to said 
 lease.  

    HIST: 1943 c 233 s 4; 1969 c 1129 art 10 s 2; 1986 c 444