§3120.51. Competitive auction.
43 C.F.R. § 3120.51
Parcels will be offered by competitive auction.
A winning bid will be the highest bid by a responsible and qualified bidder, equal to or exceeding the national minimum acceptable bid. The decision of the auctioneer will be final.
Notes, amendments, and revision history
Authority
Authority: 16 U.S.C. 3101 et seq.; 30 U.S.C. 181 et seq. and 351-359; 40 U.S.C. 471 et seq.; 43 U.S.C. 1701 et seq.; Pub. L. 113-291, 128 Stat. 3762; and the Attorney General's Opinion of April 2, 1941 (40 Op. Atty. Gen. 41).
Source
Source: 89 FR 30985, Apr. 23, 2024, unless otherwise noted.