97 Neb. Admin. Code, ch. 3, § 008
An authorized representative of the Board of Educational Lands and Funds will be in charge of all school land lease sales. Before an individual may bid on a tract being offered for sale, he must file a bank draft, cashier's check, certified check or cash equivalent to the annual rental of said tract. This may be accomplished by depositing said security with the County Treasurer or a representative of the Board of Educational Lands and Funds who is conducting the sale. The rental deposit may be submitted at the time prior to the final fall of the gavel. Said rental deposit shall be applied on the first year's annual rental upon acceptance of the bid by the Board. In the event such deposit is in excess of the first year's annual rental, the bidder shall be given an opportunity to substitute a bank, draft, cashier's check, certified check or cash equivalent to the annual rental of the subject tract.
97 Neb. Admin. Code, ch. 3, § 008