Referendum of act of Legislature (Chapter 832, Statutes 1937). Act provides competitive bidding for leases to eleven parcels of State-owned tide and overflowed lands at Huntington Beach for oil drilling; prohibiting acceptance of any bid unless same provides for royalty to State of over 30% of production when average daily production for thirty consecutive days exceeds 200 barrels, over 40% when same exceeds 1,000 and over 50% when same exceeds 2,000 barrels, and for drilling minimum of five wells per parcel.
Popular Vote Results
Y: 309795; A: 15.1; N: 1744801; B: 84.9
John H. O'Donnell, Member of the Assembly, Third District; James S. Farquhar, Editor, Huntington Beach News; W. W. Crosby, President, San Diego County State Parks and Beaches Association; Giles B. Johnson, President, San Mateo County Federation of Improvement Clubs and Associations
LEASING STATE-OWNED TIDELANDS FOR OIL DRILLING California Proposition 24 (1938).