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When the right to a lease is awarded, the commissioner will notify the interested parties. Within the period of time specified in the information to bidders and the award notice, the successful bidder shall wire transfer federal funds in the amount of the balance of the cash bonus, accrued interest and annual rental, submit two fully executed copies of the lease form and, if required, file a bond. If a successful bidder fails to comply with the provisions of this section, the amount deposited with his bid is forfeited to the state.
History: Eff. 9/5/74, Register 51; am 7/22/79, Register 71; am 7/1/89, Register 110
Authority: AS 38.05.020
AS 38.05.145 (a)
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Last modified 7/05/2006