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43 C.F.R. § 3120.1-2   Requirements.

Title 43 - Public Lands: Interior

Title 43: Public Lands: Interior
PART 3120—COMPETITIVE LEASES
Subpart 3120—Competitive Leases

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§ 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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