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90.162 Alternative to bond or deposit requirements.

In lieu of the bond or cash deposit required by section 90.161 or 90.173, a purchaser of state timber may, at the time of the bid approval and upon payment by the purchaser to the commissioner of 15 percent of the appraised value under section 90.14, elect in writing on a form prescribed by the attorney general to prepay the purchase price for any designated cutting block identified on the permit before the date the purchaser enters upon the land to begin harvesting the timber.

HIST: 1991 c 61 s 1; 2000 c 485 s 8

Official Publication of the State of Minnesota
Revisor of Statutes