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TITLE 43 - PUBLIC LANDS: INTERIOR
SUBTITLE B - REGULATIONS RELATING TO PUBLIC LANDS
CHAPTER II - BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
SUBCHAPTER C - MINERALS MANAGEMENT (3000)
PART 3120 - COMPETITIVE LEASES
subpart 3120 - COMPETITIVE LEASES
3120.1 - 2 - Requirements.
(a) Each proper BLM Sate office shall hold sales at least quarterly if lands are available for competitive leasing.
(b) Lease sales shall be conducted by a competitive oral bidding process.
(c) The national minimum acceptable bid shall be $2 per acre or fraction thereof payable on the gross acreage, and shall not be prorated for any lands in which the United States owns a fractional interest.
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