The highest bidder for any parcel of land shall deposit the amount of the bid for one year's rental at the auction. No bid may be accepted which is less than the minimum price fixed pursuant to the provisions of section 15-04-07.
N.D. Cent. Code § 15-04-11
Amount of bid deposited at time of leasing - Minimum bid
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.