Bids for said real estate shall be in writing, sealed and delivered to the county clerk of such county, and by him preserved unopened until the next regular meeting of the board of county commissioners after the expiration of fifteen (15) days from the date of the first publication, at which the said board of county commissioners shall open such bids and award the said real estate to the highest and best bidder for the same. Provided, that such real estate shall not be sold for less than eighty percent (80%) of its appraised value, and the boards of county commissioners shall have the power to reject any and all bids.

R.L. 1910, § 1605; Amended by Laws 1976, SB 653, c. 92, § 2, emerg. eff. May 6, 1976.