1999 Minnesota Statutes

     90.14 Auction sale procedure. 

    All state timber shall be offered and sold by the same unit 
 of measurement as it was appraised.  The sale shall be made to 
 the party who (1) shall bid the highest price for all the 
 several kinds of timber as advertised, or (2) if unsold at 
 public auction, to the party who purchases at any sale 
 authorized under section 90.101, subdivision 1.  The purchaser 
 at any sale of timber shall, immediately upon the approval of 
 the bid, or, if unsold at public auction, at the time of 
 purchase at a subsequent sale under section 90.101, subdivision 
 1, pay to the commissioner 25 percent of the appraised value.  
 In case any purchaser fails to make such payment, the purchaser 
 shall be liable therefor to the state in a civil action, and the 
 commissioner may reoffer the timber for sale as though no bid or 
 sale under section 90.101, subdivision 1, therefor had been made.

    HIST: (6394-16) 1925 c 276 s 16; 1961 c 202 s 13; 1967 c 110 s 
 2; 1986 c 444; 1987 c 109 s 7