La. Admin. Code tit. 43 § I-1023

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-1023 - Issuance and Execution of State Wind Lease Contract

A. The Office of Mineral Resources collects the entire dollar amount (bonus) and 10 percent administrative fee within 24 hours of state wind lease award, assigns a state wind lease number to each bid accepted by the State Mineral Board, prepares the state wind lease contract as awarded, and circulates the final contract of lease for execution, proper recordation in the appropriate parish public records, and timely return within 20 days for filing in the official state wind lease files.

B. Payment of the entire dollar amount (bonus) and 10 percent administrative fee shall be due within 24 hours of state wind lease award. Payment of both sums may be made in one payment and shall be made to the Office of Mineral Resources via certified funds or wire transfer and all proceeds shall be negotiated and transmitted for processing in accordance with law. The lease contract shall not be mailed out to the wind lessee until the entire dollar amount (bonus) and 10 percent administrative fee are received by the Office of Mineral Resources.

C. After the Office of Mineral Resources receives the entire dollar amount (bonus) and 10 percent administrative fee, personnel shall mail at least three original state wind lease contracts, properly executed by the State Mineral Board, to the state wind lessee per the bidder name and contact information provided in the official bid form via certified USPS mail return receipt requested.

D. Upon receipt of the lease packet via certified mail, the state wind lessee has 20 days from the date on the certified mail receipt or, if no date is affixed thereon, from the date the Office of Mineral Resources receives the certified mail receipt, to return one fully executed original lease contract and the recordation information from each parish wherein it is recorded to the Office of Mineral Resources. Failure to return one fully executed original lease contract and the recordation information from each parish wherein it is recorded to the Office of Mineral Resources within 20 days may result in forfeiture of the lease including the dollar amount (bonus) and 10 percent a dministrative fee. Further, failure to follow the notarization requirements of R.S. 35:12 shall cause the lease to be rejected.

E. A party may request proof that a particular state wind lease granted by the State Mineral Board was timely executed by using the official form available from the Office of Mineral Resources. Proof of timely execution of lease consists of a certificate issued by the Office of Mineral Resources certifying that the lease was received in the Office of Mineral Resources, duly executed by the lessee, within the allotted 20 day period. There is a fee of $5 for providing proof of timely execution of lease.

La. Admin. Code tit. 43, § I-1023

Promulgated by the Department of Natural Resources, Office of Mineral Resources, LR 34:266 (February 2008).

AUTHORITY NOTE: Promulgated in accordance with R.S. 41:1734.