The board of commissioners of any drainage district heretofore and hereafter organized under the provision of this chapter are hereby authorized and empowered, in their discretion, to lease lands owned by the drainage district for oil, gas, and mineral exploration and development upon such terms and conditions and for such consideration as the board of commissioners of said district, in their discretion, shall deem proper and advisable.
Every such lease shall empower the lessee to enter upon the premises leased and to explore and develop such premises for oil, gas, or either of them, or such other minerals as may be included in the terms of said lease, and do all things necessary or expedient for the production and preservation of any such products.
All rentals, royalties, or other revenue payable under any leases executed pursuant to this section shall be paid to and collected by the treasurer of such drainage district, deposited in the drainage district fund, and used and expended in the same manner and subject to the same restrictions as provided by law in the case of other money belonging to such drainage district.
Any lease executed pursuant to this section shall inure to the benefit of the lessee named therein, his heirs and assigns, and in case the lessee be a corporation, to such lessee and its assigns.
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