West Virginia Code 29-22B-1106 – Allocation of permits to own or lease video lottery terminals by sealed bid
(a) Any video lottery terminals not authorized by the commission under section 1105 of this article shall be allocated under the provisions of this section by sealed competitive bid.
Terms Used In West Virginia Code 29-22B-1106
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(b) Bids for permits to own or lease video lottery terminals shall be governed by the provisions of this part 11.
(c) A permit to own or lease one or more video lottery terminals, as defined in this article, may only be issued to a person who is licensed as an operator or a limited video lottery retailer under this article.
(d) All permits issued under this section shall be based on sealed competitive bids in accordance with the provisions of this section.
(e) The commission may set a single uniform minimum bid for each video lottery terminal for which bids are sought. Each time before the first publication of a legal notice soliciting bids, the commission may set a new minimum bid.