11 AAC 82.936. Notification of competitive award

(a) The commissioner will, within 15 days following the date that a sealed bid must be received, notify each prospective licensee of the commissioner's decision to accept or reject that prospective licensee's sealed bid.

(b) A successful bidder shall, within 30 days after receiving notification of the award, wire transfer the balance of the exploration license fee, submit two fully executed copies of the exploration license form, and file the security required by AS 38.05.132 (c)(4). All documentation must be physically received by the department by the close of business on that 30th day.

(c) If a successful bidder fails to comply with (b) of this section, the bid deposit and the license award are forfeited. The commissioner will, in the commissioner's discretion, award the exploration license to the next successive highest bidder.

(d) The commissioner will, in the commissioner's discretion, hold a bid deposit until a license is awarded, or until the commissioner decides not to award the license.

History: Eff. 9/22/95, Register 135

Authority: AS 38.05.131

AS 38.05.133

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