New Mexico Statutes 15-3B-9. Lease of New Mexico finance authority property;
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maintenance and repair.
Terms Used In New Mexico Statutes 15-3B-9
- 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
The division may enter into long-term leases, not to exceed ninety-nine years, on property owned by the New Mexico finance authority for state use. Lease of the property owned by the New Mexico finance authority may require the department to operate, maintain and make renovations and repairs to the property.