The authority given the board of university and school lands by section 38-11-02.1 includes, but is not limited to:
1. The approval of all forms used by agencies for mineral prospecting and mineral leasing.
2. The setting of minimum bonuses, minimum delay rentals, and minimum royalties.
3. The setting of terms and conditions relating to prospecting, mining, surface damages, and reclamation.
4. The method and manner of negotiations or sales for leasing or prospecting.