Alaska Administrative Code
Title 11 - Natural Resources
Part 6 - Lands
Chapter 82 - Mineral Leasing Procedure
Article 4 - Competitive Bidding
11 AAC 82.455 - Tie bids

Universal Citation: 11 AK Admin Code 82.455
Current through August 30, 2024

If two or more sealed bids are equal in amount and are the highest received at a lease sale, or for an oil and gas exploration license, the commissioner will promptly notify the highest bidders and invite them to submit new bids, not lower than the original bids, within 30 days after the notice. If the new bids fail to break the tie, the commissioner will, in the commissioner's discretion, issue new invitations in like manner until the tie is broken, or will at any time notify the bidders that a drawing will be held at a time and place stated in the notice and award the lease or oil and gas exploration license by lot.

Authority:AS 38.05.020

AS 38.05.131

AS 38.05.133

AS 38.05.145

Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.