HAR §13-183-47. Award and execution of leases

(a) The lease offered for bid shall be awarded to the highest responsible qualified bidder. The board reserves the right to reject any and all bids or waive any defects which will be in the best interest of the State. If the board fails to award the lease within sixty days after the date of the public auction, all bids for that lease will be considered rejected. Deposits on rejected bids shall be returned. Within two days after acceptance by the board of the highest responsible bid, the successful bidder shall pay to the board the amount of the first year's rental bid and the $500 deposit shall be credited against the sum. (b) Three copies of the lease will be sent to the successful bidder who shall within thirty days from delivery thereof be required to execute and return them, and to file the required bond or bonds. When the three copies of the lease are executed by the successful bidder and returned to the chairperson, the lease will be executed by the authorized officers of the board and a copy will be mailed to the lessee. If the successful bidder fails to execute the lease or otherwise comply with the applicable rules, their deposit will be forfeited. [Eff. JUN 22 1981] (Auth: HRS §182-14) (Imp: HRS §§182-9, 182-14) Subchapter 5. Leases; Procedures for Reserved Lands 26