[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR3120.1-2]

[Page 368]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 3120--COMPETITIVE LEASES--Table of Contents
 
                    Subpart 3120--Competitive Leases
 
Sec. 3120.1-2  Requirements.

    (a) Each proper BLM Sate office shall hold sales at least quarterly 
if lands are available for competitive leasing.
    (b) Lease sales shall be conducted by a competitive oral bidding 
process.
    (c) The national minimum acceptable bid shall be $2 per acre or 
fraction thereof payable on the gross acreage, and shall not be prorated 
for any lands in which the United States owns a fractional interest.