ENGROSSED SENATE
JOINT
RESOLUTION NO. 34	By:	Marlatt of the Senate

			and

		Armes of the House

[ Joint Resolution - agricultural leases - Commissioners of the Land Office - ballot title - 	filing ]

BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE 1ST SESSION OF THE 52ND OKLAHOMA LEGISLATURE:
SECTION 1.  The Secretary of State shall refer to the people for their approval or rejection, as and in the manner provided by law, the following proposed amendment to Section 7 of Article XI of the Oklahoma Constitution to read as follows:
Section 7.  The Commissioners of the Land Office are authorized to grant commercial leases and agricultural leases in trust property.
Commercial leases shall not exceed fifty‑five (55) years.  The granting of any commercial lease in excess of three (3) years shall be by public bidding at not less than fair market value.  All commercial leases shall provide for fair market value throughout the term of the lease.
Agricultural leases of trust property shall be limited to a maximum of five (5) seven (7) years and shall be by public bidding at not less than fair market value.
The granting of any interest in trust property at less than fair market value or not in compliance with this section is void.
Any permanent improvement made on commercial trust property from and after the passage of this amendment shall revert to the trust at the end of the lease.
The Legislature shall enact the laws necessary to implement the provisions of this section and to foster the fair and equitable administration of trust property.
SECTION 2.  The Ballot Title for the proposed Constitutional amendment as set forth in SECTION 1 of this resolution shall be in the following form:
BALLOT TITLE
Legislative Referendum No. ____	State Question No. ____
THE GIST OF THE PROPOSITION IS AS FOLLOWS:
This measure amends Section 7 of Article 11 of the State Constitution.  Presently, the Commissioners of the Land Office lease school land trust property.  Leases for agricultural purposes are limited to a maximum of five (5) years.  This measure would allow such leases for terms of up to seven (7) years.
SHALL THE PROPOSAL BE APPROVED?
FOR THE PROPOSAL — YES	_____________
AGAINST THE PROPOSAL — NO 	_____________
SECTION 3.  The President Pro Tempore of the Senate shall, immediately after the passage of this resolution, prepare and file one copy thereof, including the Ballot Title set forth in SECTION 2 hereof, with the Secretary of State and one copy with the Attorney General.
Passed the Senate the 4th day of March, 2009.

	
Presiding Officer 	of the Senate

Passed the House of Representatives the ____ day of __________, 2009.

	
Presiding Officer	of the House
	of Representatives