New Mexico § 19-8-33 - Withholding of lands from lease authorized; lease by competitive bidding authorized

§ 19-8-33. Withholding of lands from lease authorized; lease by competitive bidding authorized

Nothing contained in this act shall be construed as requiring the commissioner to

offer any tract or tracts of land for lease, but the commissioner shall have power

to withhold any tract or tracts from leasing for said mineral purposes, if, in his

opinion, the best interests of the state would be served by so doing, and nothing

contained in this act shall be construed as prohibiting the commissioner from rejecting

any application at any time prior to approval and offering acreage embraced therein

for lease upon competitive bidding by sealed bids or at public auction to the bidder

offering the highest bonus in addition to the annual rentals as set by the commissioner. Provided, however, that notice of such public sale shall be given by posting in

a conspicuous place in the state land office, not less than ten (10) days before the

date of sale, a notice of same, specifying the day and hour when, and the place where,

the sale will be held, giving a description of the lands in each tract to be offered

for lease. The notice shall also state whether the sale shall be conducted through sealed bids

or at public auction and any other such information as the commissioner may deem necessary. Where two or more sealed bids are received making the same offer on the same tract,

the commissioner shall award the lease thereon in accordance with such regulations

as he may prescribe.