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New Mexico Statutes Chapter 13. Public Purchases and Property § 13-6-2.1. Sales, trades or leases; state board of finance approval

Current as of January 01, 2024 | Updated by Findlaw Staff

A. Except as provided in Section 13-6-3 NMSA 1978, for state agencies, any sale, trade or lease for a period of more than five years of real property belonging to a state agency, local public body or school district or any sale, trade or lease of such real property for a consideration of more than twenty-five thousand dollars ($25,000) shall not be valid unless it is approved prior to its effective date by the state board of finance.

B. The provisions of this section shall not be applicable to:

(1) those institutions specifically enumerated in Article 12, Section 11 of the constitution of New Mexico;

(2) the state land office;

(3) the state transportation commission;

(4) the economic development department when disposing of property acquired pursuant to the Statewide Economic Development Finance Act; or

(5) a school district when leasing facilities to a locally chartered or state-chartered charter school.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 13. Public Purchases and Property § 13-6-2.1. Sales, trades or leases; state board of finance approval - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-13-public-purchases-and-property/nm-st-sect-13-6-2-1/

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