[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR2566.2]

[Page 155-156]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 2560_ALASKA OCCUPANCY AND USE--Table of Contents
 
                 Subpart 2566_Alaska Railroad Townsites
 
Sec. 2566.2  Public sale.

    (a) Generally. The unreserved and unsold lots will be offered at 
public sale to the highest bidder at such time and place, and after such 
publication of notice, if any, as the Secretary of the Interior may 
direct.
    (b) Superintendent's authority. Under the supervision of the 
Secretary of the Interior the superintendent of the sale will be, and he 
is hereby, authorized to make all appraisements of lots and at any time 
to reappraise any lot which in his judgment is not appraised at the 
proper amount, or to fix a minimum price for any lot below which it may 
not be sold, and he may adjourn, or postpone the sale of any lots to 
such time and place as he may deem proper.

[[Page 156]]

    (c) Manner and terms of public sale. (1) The Secretary of the 
Interior shall by regulations prescribe the manner of conducting the 
public sale, the terms thereof and forms therefor and he may prescribe 
what failures in payment will subject the bidder or purchaser to a 
forfeiture of his bid or right to the lot claimed and money paid 
thereon. The superintendent of sale will at the completion of the public 
sale deposit with the receiver of the proper local land office the money 
received and file with its officers the papers deposited with him by 
said bidder, together with his certificate as to successful bidder.
    (2) If it be deemed advisable, the Director, Bureau of Land 
Management may direct the receiver of public moneys of the proper 
district to attend sales herein provided for in which event the cash 
payment required shall be paid to the said receiver.