Term of lease. A successful
bidder will be issued a five-year hard rock mining or other mineral lease on
form prescribed by the Commissioners, providing for royalty as stated in the
Notice of sale.
executions. All leases and bonds will be prepared by the Commission and
forwarded to the lessee for completion. The lessee shall have 30 days from date
of award to execute the lease, post a bond, and pay any moneys due.
Lease approval. The
tabulation of each hard rock mining or other mineral lease sale will be
presented to the Commissioners at their next regular meeting for approval and
consideration of award of leases.
Okla. Admin. Code §
Amended at 29 Ok Reg 1303,