OAR 141-070-0090
Auction Procedure
(1)
Oral Bid Procedure. The minimum starting bid amount per acre, minimum raise in bid per acre, and bidding unit parcels will be set forth in the notice of auction:(a)
The highest qualified bidder shall pay one year’s advance annual rental at the close of the auction and any cash bonus bid within five working days after the close of the auction. Upon compliance with these rules and applicable statutes, the highest qualified bidder shall be awarded the lease;(b)
If no bids are received at the auction, the Division may award the lease to the original nominating applicant by accepting that applicant’s offer pursuant to OAR 141-070-0060 (Lease Application)(2);(c)
The Division reserves the right to reject any and all bids on any tract offered for lease.(2)
Sealed Bid Procedure. The minimum acceptable bid will be established by the Director and will be announced in accordance with OAR 141-070-0080 (Auction Notice):(a)
The number of acres within each bidding unit shall be established by the Director;(b)
Each bidder shall submit a completed bid form provided by the Division together with a check in an amount not less than ten percent of the total bid amount per bidding unit. All bids received by the deadline stated in the auction notice shall be opened and announced at the specified place, date, and hour;(c)
The Director shall award a lease to the highest qualified bidder for each bidding unit within 30 days of the bid opening. The successful bidder shall pay the balance of the cash bonus bid amount and the first year’s rental within ten working days of the date the Director notifies the successful bidder by certified mail.
Source:
Rule 141-070-0090 — Auction Procedure, https://secure.sos.state.or.us/oard/view.action?ruleNumber=141-070-0090.