View all text of Subpart 3924 [§ 3924.5 - § 3924.10]
§ 3924.5 - Notice of sale.
(a) After the BLM complies with subparts 3921and 3922, the BLM may publish a notice of the lease sale in the
(b) The notice of sale will:
(1) List the time and place of sale, the bidding method, and the legal land descriptions of the tracts being offered;
(2) Specify where a detailed statement of lease terms, conditions, and stipulations may be obtained;
(3) Specify the royalty rate and the amount of the annual rental;
(4) Specify that, prior to lease issuance, the successful bidder for a particular lease must pay the identified cost recovery amount, including the bidder's proportionate share of the total cost of the NEPA analysis and of publication of the notice; and
(5) Contain such other information as the BLM deems appropriate.
(c) The detailed statement of lease terms, conditions, and stipulations will, at a minimum, contain:
(1) A complete copy of each lease and all lease stipulations to the lease; and
(2) Resource information relevant to the tracts being offered for lease and the minimum production requirement.