...provisions as they existed at the time of the agreement. See Board of Pub. Instruction v. Town of Bay Harbor Islands,
81 So.2d 637, 643 (Fla. 1955). Coastal asserts that their interest in royalties from the disputed leases was unconditional because section
253.52, Florida Statutes (1975), created a duty to grant oil and gas leases on public lands on the part of the Board of Trustees of the Internal Improvement Trust Fund except under limited circumstances. We cannot agree with appellant, however, that this statutory provision created an unconditional obligation on the part of the state to lease the land for oil exploration if there is a demand and it makes economic sense to do so. Section
253.52 provided, in pertinent part, Placing oil and gas leases on market by board.Whenever in the opinion of the Board of Trustees of the Internal Improvement Trust Fund there shall be a demand for the purchase of oil and gas leases on any area, tract, or parcel of the land so owned, controlled, or managed, by any state board, department, or agency, then the board shall place such oil and gas lease or leases on the market in such blocks, tracts, or parcels as it may designate. §
253.52, Fla....