Louisiana Administrative Code › Title 43 - NATURAL RESOURCES › Part V - Office of Mineral Resources › Chapter 7 - Leasing State Lands and Water Bottoms for the Exploration, Development and Production of Wind Energy › Section V-723 - Issuance and Execution of State Wind Lease Contract [Formerly LAC 43:I.1023]

Current through Register Vol. 50, No. 6, June 20, 2024
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 administrative 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.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  41:1734.