A. Except as provided in Section 13-6-3 N.M. Stat. Ann., 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.

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Terms Used In New Mexico Statutes 13-6-2.1

  • 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
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

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

(1)     those institutions specifically enumerated in Article 12, § 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 [6-25-1 N.M. Stat. Ann.]; or

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

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