New Mexico Statutes 19-7-54. Municipalities leasing lands within five miles of limits;
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uses; term.
Terms Used In New Mexico Statutes 19-7-54
- 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
Wherever any lands belonging to the state or under the supervision of the commissioner are situate within five miles of any municipality and the municipality may have use for the state lands for airports, parks, swimming pools, fairgrounds, playgrounds, economic development or other municipal purposes, the municipality is authorized and empowered to lease the lands or so much thereof as may be reasonably necessary for such purpose from the commissioner, and upon receipt of a request for such a lease, the commissioner is authorized and empowered to enter into such a lease for a term not exceeding forty years upon such reasonable terms and conditions as may be prescribed by the commissioner.