77-6-202. Lease by competitive bidding -- full market value required. When the department receives an application to lease an unleased tract, it shall advertise for bids on the tract. The tract must be leased to the highest bidder unless the board determines that the bid is not in the state's best interest for the reasons set forth in 77-6-205(2). The board may not accept a bid that is below full market value. If the high bid is rejected, the board shall set forth the reasons for the rejection in writing. The lease may be issued, at a rental rate to be determined by the board, to the first bidder who is willing to pay the board-determined rate whose name is selected through a random selection process from all bidders on the tract.
History: En. Sec. 21, Ch. 60, L. 1927; re-en. Sec. 1805.21, R.C.M. 1935; amd. Sec. 1, Ch. 65, L. 1939; amd. Sec. 1, Ch. 20, L. 1941; amd. Sec. 5, Ch. 207, L. 1945; amd. Sec. 3, Ch. 260, L. 1963; amd. Sec. 12, Ch. 428, L. 1973; amd. Sec. 1, Ch. 311, L. 1977; R.C.M. 1947, 81-405(3); amd. Sec. 3, Ch. 586, L. 1993; amd. Sec. 288, Ch. 42, L. 1997.
Structure Montana Code Annotated
Chapter 6. Agricultural, Grazing, and Other Surface Leases
77-6-201. Appraisal of grazing lands
77-6-202. Lease by competitive bidding -- full market value required
77-6-204. Notification of termination of lease
77-6-206. Withdrawal of lands from leasing
77-6-207. Form of lease -- bond optional
77-6-208. Assignment of leases -- subleasing -- loss of preference right
77-6-209. Change from grazing lease to agricultural lease
77-6-210. Cancellation of leases
77-6-211. Procedure to cancel lease -- appeal
77-6-212. Loss of preference right -- cancellation of lease -- subleasing -- pasturing agreements