The authority may from time to time when in its discretion sound forestry practices so require, solicit bids for contracts for the harvesting and purchase of any timber standing on property acquired under the authority of this chapter, and for the reforestation of the property upon which the harvesting occurs. Advertisement for bids shall be published 3 weeks consecutively in some newspaper of statewide circulation, the date of the last publication being at least 14 days before the date set for the receiving and opening of bids. The advertisement shall contain a description of the area in which the timber lies, an estimate of the amount of board feet to be derived therefrom, and the time and place for the receiving and opening of bids thereon. [1969, c. 557, §1 (NEW).]
Each bid shall be accompanied by a deposit in the form of a certified check payable to the Treasurer of State in an amount equal to 10% of the bid. At the time and place specified in the notice, the authority shall publicly open the sealed bids and shall award the contract to the highest responsible bidder. Deposit checks, except in the case of the successful bidder, shall be returned to the bidder. The authority may reject any and all bids and shall reject any bid not accompanied by a check proper as to form and amount. [1969, c. 557, §1 (NEW).]