Option 1 states that a bill pending in the Legislature of a State will not lapse if the House or Houses of the Legislature are dissolved. This means that even if the legislative body goes through a change, the bill will still be considered valid.

Option 2 states that a bill pending in the Legislative Council of a State will not lapse if it has not been passed by the Legislative assembly and the assembly is dissolved. This means that even if the lower house of the state legislature is dissolved, the bill can still continue to be considered by the upper house.

Both statements, 1 and 2, are correct. They highlight the fact that bills pending in the state legislature, whether it is the House or Houses, or the Legislative Council, will not lapse due to the dissolution of the respective legislative bodies. This ensures that the legislative process is not disrupted and pending bills can still be addressed even if there are changes in the composition of the legislature.

Therefore, the correct answer is option 3: Both 1 and 2.