OCR Text |
Show Oil Monies Deposited In Utah Bank A check in the amount of $129,419,808.83 was deposited in th Federal Reserve Bank' by Roland G. Robison, Bureau of Land Management State Director for Utah. The check represented payments for oil shale leases that have been held in escrow since 1974 pending resolution of a lawsuit brought by the State of Utah against the United States over ownership of the leased lands. A decision in favor of the United States was rendered by the United States Supreme Court in 1980, but release of the funds to the United States was not completed until Jan. 8 because of carryover legal problems. Utah has received a part of the monies. A check in the amount of $48,532,428.31, which represents 37.5 percent of the total deposit, was, presented to the State of Utah this week, according to Robison. The Mineral Leasing Act provides for a split of Federal leasing monies with the State in which' the leased Federal lands are located. The lands in question are in Uintah County. According to Robison, payment of Utah's share of the deposited funds was accelerated at the request of Senator Orrin G. Hutch, who has met a 5' number of times with Secretary James G. Watt li regarding the matter, |