New Mexico Statutes 3-54-3. Supplemental method for disposing of municipal property
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Sections 3-54-1 and 3-54-2 N.M. Stat. Ann. are intended to afford another and additional method of disposing of municipal real and personal property and are not to be construed as repealing or qualifying any other statutory authorization granted a municipality to dispose of or exchange real or personal municipal property or as affecting in any way the sale, lease, exchange or other disposition of real or personal property pursuant to the Local Economic Development Act [N.M. Stat. Ann. Chapter 5, Article 10].
Terms Used In New Mexico Statutes 3-54-3
- 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
- Personal property: All property that is not real property.