Section 97-13-003 - Sale of Timber on Educational Lands003.01 Sale of timber on educational lands shall be initiated on motion of the Board of Educational Lands and Funds.003.02 Any timber offered for sale shall be appraised by the Nebraska Forestry Service or other qualified party and the appraised value thereof reported to the Board of Educational Lands and Funds for its approval.003.03 Such timber, when approved for sale, shall be offered for sale by sealed bid. Such timber shall be sold to the highest and best bidder.003.04 Requests for bids shall be advertised for two successive weeks in a legal newspaper of general circulation within the county where the timber is located. The Board may also utilize other methods of advertising as deemed necessary.003.05 Sealed bids shall be tendered on a form provided by the Board of Educational Lands and Funds, which form may be obtained in the general offices of the Board. The Board further reserves the right to reject any and all bids.003.06 A bid shall constitute an irrevocable offer for a period of thirty days from the date the bid is received in the office of the Board of Educational Lands and Funds. Upon notification that that the offer is accepted a certified check, cashiers check, bank draft, money order or cash shall be tendered at the time the contract is awarded.003.07 The Board of Educational Lands and Funds may require the purchaser to furnish bond in such amount as the Board may determine, conditioned upon faithful performance of all of the terms of the contract.003.08 The purchaser of timber shall be required to remove all branches and other refuse caused by the removal of the timber and shall pay all damages accruing to the lessee of such lands.97 Neb. Admin. Code, ch. 13, § 003