We set your rent by multiplying the number of acres in your lease or permit by the rental rates shown below. The rates differ for different commodities and some rates increase over time. You must pay rent each year. We round up any fractional acreage to the next highest acre. If you do not know the exact acreage, compute the total acreage by assuming each of the smallest subdivisions is 40 acres. The minimum rental is $20 per permit or lease for all commodities. Pay the minimum rental or the per-acre rental, whichever is greater.
(a) Annual rental rates for prospecting permits for all commodities are $.50 per acre or fraction of an acre.
(b) Annual rental rates for leases for each commodity are shown in the table below. The rate shown is for each acre or fraction of an acre in the lease.
|
| Year 1
| Year 2
| Year 3
| Year 4
| Year 5
| Year 6 to end
|
|---|
| (1) Phosphate | $0.25 | $0.50 | $0.50 | $1.00 | $1.00 | $1.00
|
| (2) Sodium | 0.25 | 0.50 | 0.50 | 0.50 | 0.50 | 1.00
|
| (3) Potassium | 0.25 | 0.50 | 0.50 | 0.50 | 0.50 | 1.00
|
| (4) Sulphur | 0.50 | 0.50 | 0.50 | 0.50 | 0.50 | 0.50
|
| (5) Gilsonite | 0.50 | 0.50 | 0.50 | 0.50 | 0.50 | 0.50
|
| (6) Hardrock | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00
|
| (7) Asphalt | 0.25 | 0.50 | 0.50 | 0.50 | 0.50 | 1.00 |