New Mexico Statutes > Chapter 21 > Article 11 – New Mexico Institute of Mining and Technology
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Terms Used In New Mexico Statutes > Chapter 21 > Article 11 - New Mexico Institute of Mining and Technology
- Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Quorum: The number of legislators that must be present to do business.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.