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twitterLetters: BLM is working to revise auction deposit policy
Thursday, Nov. 20, 2003 | 9:01 a.m.
The default rate for the Nov. 6 auction was significantly greater than for previous auctions. Over the 14 live auctions conducted before Nov. 6, BLM sold 258 parcels and there were 11 parcels defaulted on. Those parcels were subsequently sold on the Internet, and all were purchased for more than the fair-market appraisal.
As we mark the fifth anniversary of the Southern Nevada Public Land Act of 1998, I would like to commend the members of Nevada's congressional delegation, who developed the legislation, for their great vision in creating an Act that provides such extraordinary benefits to Nevada. And those who have subsequently been elected have carried that vision forward through amendments to enhance the Act.
A new policy will be in place by the next auction to avoid recurring defaults.
ROBERT V. ABBEY
Editor's note: Robert V. Abbey is the Nevada director of the Bureau of Land Management.
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