Kansas Administrative Regulations

Regulation Number:92-9-1
Agency Title: KANSAS DEPARTMENT OF REVENUE
Article Title: Minerals and Natural Products Leases on Navigable Stream Beds
Tax Type:All
Brief Description:Bidders; notice; form of bids.
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Body:

92-9-1. Bidders; notice; form of bids. (a) Legal notice to bidders for oil and gas lease land in navigable streambeds shall be published by the director of taxation in a paper of general circulation in the county in which the lands subject to oil and gas leases are situated once each week for a period of four consecutive weeks.
(b) The highest and best bid from a responsible bidder shall be accepted by the director of taxation, reserving the right to reject any bid and republish. Separate sealed bids accompanied by a certified check or bank draft in the amount of the bid payable to the director of taxation for each tract shall be submitted on forms supplied by the department of revenue and filed with the director of taxation, in accordance with the publication notice concerning the bids.
(c) Each bidder shall have the right to bid on all or any portion of the lands set forth in the publication notice, and the successful bidder shall reimburse the director of taxation for the publication costs. However, this regulation shall apply only to the removal of oil and gas from navigable streambeds. (Authorized by K.S.A. 70a-103; implementing K.S.A. 2001 Supp. 70a-102, K.S.A. 70a-103; effective Jan. 1, 1966; amended March 29, 2002.)