Section 11.82.455. Tie bids.

Latest version.

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.

Authorities

38.05.020;38.05.131;38.05.133;38.05.145

Notes

Reference

11 AAC 82.933

Authority
 AS 38.05.020  
AS 38.05.131  
AS 38.05.133  
AS 38.05.145  
History Eff. 9/5/74, Register 51; am 7/22/79, Register 71; am 9/22/95, Register 135

                    
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