N.M. Admin. Code § 19.2.7.23
Current through Register Vol. 35, No. 23, December 10, 2024
In the event the sale is to be by sealed bids, bids will be received up to the hour set in the notice of sale, and all bids submitted will be opened at the appointed hour, and the lease will be awarded to the highest bidder, subject to the right of the commissioner to reject all bids if the commissioner shall deem the bids too low or shall deem it in the best interest of the trust to do so. In the event of such rejection, the action taken, the date and hour thereof, and reason therefor, shall be indicated on the tract books, in the same manner as provided in 19.2.7.18 NMAC. Sealed bids will be accompanied by remittance covering application fee, first year's rental and bonus offered.
N.M. Admin. Code § 19.2.7.23