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

NRS  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.