72-309. Mineral rights; lease; bids; award; how made.

Where two or more applications are received for the same land, the rights thereon may be awarded to the legally qualified applicant making the highest and best bid, to be determined by taking into consideration both the bonus and royalty, the award being made after proper legal notice in such manner as the Board of Educational Lands and Funds shall determine best calculated to protect public interests.

Source:Laws 1918, Thirty-sixth Spec. Sess., c. 7, § 9, p. 46; C.S.1922, § 5227; C.S.1929, § 72-309; R.S.1943, § 72-309.

Annotations

It is the duty of the board in considering bids for leases to investigate as to the relative advantages that would accrue to the state under the respective offers. Briggs v. Neville, 103 Neb. 1, 170 N.W. 188 (1918).