Nebraska Revised Statute 72-309
Where two or more applications are received for the same land, the rights thereon may be awarded to the legally qualified applicant making the highest and best bid, to be determined by taking into consideration both the bonus and royalty, the award being made after proper legal notice in such manner as the Board of Educational Lands and Funds shall determine best calculated to protect public interests.
Laws 1918, Thirty-sixth Spec. Sess., c. 7, § 9, p. 46;
C.S.1922, § 5227;
C.S.1929, § 72-309;
R.S.1943, § 72-309.