Lewisville ISD Says Gas Leases All Released

Date 2010/6/16 8:40:00 | Topic: Lewisville ISD Notes

At Monday night's LISD Board meeting, four citizens spoke up during the public forum regarding the proposed gas wells at Hilliard field, near Bluebonnet elementary. Citizens are concerned about the proximity to the schools, and the devaluation of the land South of the site that LISD has purchased for a future high school. Several news stations had cameras on hand to record the comments regarding oil and gas.

Many citizens who were in attendance, or who watched the meeting were surprised to hear Dr. Roy state that LISD had no current leases, since it's been widely known that LISD leased most of its minerals in 2007:

Dr. Roy: Let me start with a question to Craig: Craig, what's the status of any lease agreements with LISD at this time.

Craig: Currently LISD has no lease agreements with any oil and gas companies.

Dr. Roy: Mr. King, what's the direction I gave you regarding any leasing of LISD property?

Alan King: We're not to look for any of that so we stay away from any company. We haven't accepted any requests, nor will we until we know otherwise.

Dr. Roy: In reference to the future 9th grade site that was brought into question, there's been no change in the projected use of that property?

King: No sir, there's been no change...

...
There was a bit more discussion about maybe selling some of the frontage for commercial.
...

Dr. Roy: So, we're maintaining our property, we have no leases, we have no interest, and no intention of leasing.

I'm not sure where some of this information is coming from, but those are the facts.


Attached here are three leases between LISD and Llano Royalty, Ltd.: Group 1, Group 2, and Group 3, as well as a summary. These are Three-year leases, beginning October 2nd, 2007, which would put their normal expiration in October of 2010, if they had not been otherwise released. The leases say "The primary term of the Lease is for three years, and the lease may thereafter be continued in effect as to all or parts of the land as provided therein".

Now we're learning that indeed, the district has obtained early releases of those leases, though we have no indication of how much the district might have paid for the releases.

The three Llano lease releases were obtained by LISD's attorney, Robert Luna, on February 7th, from DB Newark Lease Holdings, LP, which had obtained the leases from Llano. The documents were filed with Denton County Clerk on March 15th.

Llano Group 1 release
Llano Group 2 Release
Llano Group 3 Release

In addition, there is a release from a lease that the district had with Williams Co. for the land beneath Liberty Elementary.

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This article comes from The Lewisville Texan Journal
http://lewisvilletexan.com/xoops

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