97 Neb. Admin. Code, ch. 5, § 010
In order to obtain the best possible price for school lands, the Board will accept post-sale pre-confirmation bids for land sales so long as said bids conform with the following requisites. Any person wishing to submit a post-sale pre-confirmation bid in excess of the highest bid made at the public auction must increase the previous high bid by an amount equal to Ten Percent (10%) plus Five Thousand Dollars ($5,000.00) and must submit with such bid (1) a certified check, bank money order, or cashier's check in the amount of Twenty-two Percent (22%) of the previous high bid plus One Thousand Dollars ($1,000.00); and (2) a certified check, bank money order, or cashier's check in the amount of $ 500.00 representing a fixed amount as fair compensation for holding a second sale. The starting bid price at the second sale shall be five (5) times the amount submitted pursuant to part (1) above. The $ 500.00 fee for holding a second sale shall be deposited in the Temporary School Fund and will not be refunded regardless of who shall eventually be the successful bidder. In the absence of unusual circumstances, which shall be determined solely by the Board, not more than one post-sale pre-confirmation bid shall be accepted on any one tract.
97 Neb. Admin. Code, ch. 5, § 010