45th legislature - STATE OF NEW MEXICO - first session, 2001

RELATING TO PUBLIC PROPERTY; REQUIRING STATE BOARD OF FINANCE APPROVAL ON CERTAIN SALES, TRADES AND LEASES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. Section 13-6-2.1 NMSA 1978 (being Laws 1989, Chapter 380, Section 1) is amended to read:

"13-6-2.1. SALES, TRADES OR LEASES--BOARD OF FINANCE APPROVAL.--

A. Except as provided in Section 13-6-3 NMSA 1978, for state agencies, any sale, trade or lease for a period of more than five years [but less than twenty-five years in duration] of real property belonging to [any] a state agency, local public body or school district [or state educational institution] or any sale, trade or lease of such real property for a consideration of more than twenty-five thousand dollars ($25,000) [but less than one hundred thousand dollars ($100,000)] shall not be valid unless it is approved prior to its effective date by the state board of finance.

B. The provisions of this section shall not be applicable as to those institutions specifically enumerated in Article 12, Section 11 of the constitution of New Mexico, the state land office or the state highway commission."