Nevada § 361.607 - Leases for development of oil, gas and geothermal resources: Procedure for leasing

§ 361.607. Leases for development of oil, gas and geothermal resources: Procedure for leasing

1. When the board of county commissioners determines that the lease of any property

referred to in NRS 361.606 will be to the advantage of the county, the board may grant leases thereon on such

terms and conditions as it sees fit to the highest responsible bidder by competitive

bidding, under regulations promulgated in advance, on the basis of a cash bonus as

the sole biddable factor. 2. Before ordering the lease of any property the board shall, in open meeting by a

majority vote of the members, adopt a resolution declaring its intention to lease

the property. The resolution shall: (a) Describe the property proposed to be leased in such manner as to identify it. (b) Specify the annual rental, royalty, term of the lease and the other terms upon

which it will be leased, including a cash consideration which shall be the sole biddable

factor to be included in all bids submitted. All sealed bids shall be accompanied by a deposit not less than 20 percent of the

amount bid. Such deposit shall be by cashier's check, certified check, United States currency,

or a United States money order. The resolution shall also specify that oral bids will be received after all sealed

bids have been opened, examined and declared. In the event an oral bid is the highest bid, the bidder thereof shall in like manner

immediately deposit not less than 20 percent of the amount bid. (c) Fix a time, not less than 3 weeks thereafter, for a public meeting of the board

to be held at its regular place of meeting, at which sealed bids to lease will be

received and considered. 3. Notice of the adoption of the resolution and of the time and place of holding the

meeting shall be given by: (a) Posting copies of the resolution in three public places in the county not less

than 15 days before the date of the meeting; and (b) Publishing the resolution not less than once a week for 2 successive weeks before

the meeting in a newspaper of general circulation published in the county, if any

such newspaper is published therein. 4. At the time and place fixed in the resolution for the meeting of the board, all

sealed bids which have been received shall be opened, examined and declared by the

board. 5. After all sealed bids have been opened, examined and declared, the board shall

at the same session call for oral bids. The first such oral bid must exceed by at least 5 percent the highest sealed bid.

Any subsequent oral bid or bids must exceed the amount of the next preceding oral

bid. 6. The highest bid (sealed or oral) made by a responsible party shall be accepted,

either at the same session or at any adjourned session of the same meeting held within

the 10 days next following, but if the board deems such action to be for the best

public interest, it may reject any and all bids, either written or oral, and withdraw

the property from lease. 7. Any resolution of acceptance of any bid made by the board shall authorize and direct

the chair to execute a lease and to deliver it upon performance and compliance by

the lessee with all the terms or conditions of his or her contract which are to be

performed concurrently therewith. 8. All moneys received from the leases of such property shall be deposited forthwith

with the county treasurer to be credited to the county general fund.