State land sale slated for Feb. 12

ANCHORAGE -- An over-the-counter land sale for state-owned parcels that were not purchased during the fall 2001 sealed-bid auction No. 422 will take place on Feb. 12 at 9 a.m.

The opening will be in Anchorage in Suite 1270 of the Atwood Building, located at 550 West 7th Ave. Applicants wishing to participate in the initial opening are required to submit their applications to the Department of Natural Resources no later than 5 p.m. Feb. 11.

A cashier's check or money order for 5 percent of the purchase price and a $100 application filing fee needs to be enclosed with the completed application. Brochures and applications are available at the nearest public information center. Information and applications are also available online at www.dnr.state.ak.us/mlw/landsale/otc.htm.

In addition, there are approximately 880 over-the-counter parcels remaining from 1995, 1998, 1999 and 2000 land-disposal programs. These parcels may be purchased on a first-come, first-served basis at any of the public information offices. There is no limit on the number of parcels that can be purchased.

Buyers are required to make a 5-percent down payment of the purchase price and a $100 application filing fee for each parcel to be purchased. Unlike the initial offering being held on Feb. 12, payments for these parcels can be in the form of a personal check or cash.

The Department of Natural Resources will issue a contract for up to 20 years, depending on the remaining balance. The interest rate is determined on the first day of each month by adding 3 percent to the Prime Interest Rate. That rate is set for

the entire month.

The current interest rate for January 2002 is 7.75 percent. The interest rate at the time of issuance of the contract is locked in for the full term of the contract. There is no penalty for early payments or principal reduction.

Copies of the summer 2001 auction No. 416 and the fall 2001 auction No. 422 brochures are available free of charge when picked up in person. There is a $3 mailing charge for the summer brochure and a $4 charge for the fall brochure.

Brochures from 1995, 1998, 1999 and 2000 are available for purchase or can be viewed online at the Web site mentioned above. More information about the program can be obtained by contacting the public information offices.

To participate in the initial opening, submit applications to the Department of Natural Resources to one of the following locations -- Anchorage: Public Information Center, 550 West 7th Ave., Suite 1260, Anchorage, AK 99501 (907-269-8400); Fairbanks: Public Information Center, 3700 Airport Way, Fairbanks, AK 99709 (907-451-2705); Juneau: Public Information Office, 400 Willoughby St., Suite 400, Juneau, AK 99801 (907-465-3400).