Okla. Admin. Code § 385:20-1-14 - Bidding process

The bid process for school land hard rock mining and other mineral lease sales shall be as follows:

(1) Separate tracts. A separate bid showing the tract number and legal description must be filed on each tract. Each tract will be leased separately to the highest responsible bidder.
(2) Sealed bids. Bids must be written and enclosed in one sealed envelope and placed in another envelope bearing notation on the outside front face of the envelope "Bids for Hard Rock Mining or Other Mineral Leases" and the date of sale. Such bids must be delivered to the office of the Commissioners of the Land Office, and if sent by mail shall be addressed to the official business residence of the Commissioners of the Land Office, as posted on the Land Office's official website [See 385:1-1-13 ]. (No bid shall be considered that is not delivered prior to date and time of sale, as set forth in the Notice of Sale.)
(3) Bid opening. Bids will be received as provided in the Notice of Sale and are subject to the right of the Commissioners of the Land Office to reject any and all bids. (All bidders are invited to attend opening of bids which is held in the office of the Commissioners of the Land Office.)
(4) Bid deposit. Each bid must be accompanied by a remittance of earnest money as required in the notice of sale, payable to the Commissioners of the Land Office. Upon acceptance of any bid and the awarding of the lease to the bidder, the successful bidder shall be liable for the full amount of the bid.
(5) Forms. Bid forms will be furnished on request.
(6) Assignment. Hard rock mining and other mineral lease bids may not be assigned.
(7) Total acres. Each hard rock mining and other mineral lease will be limited to a maximum of 160 acres.

Notes

Okla. Admin. Code § 385:20-1-14
Amended at 15 Ok Reg 1752, eff 5-12-98; Amended at 29 Ok Reg 1303, eff 6-25-12

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