HOUSE JOINT RESOLUTION 8

49th legislature - STATE OF NEW MEXICO - first session, 2009

INTRODUCED BY

Ben Lujan

A JOINT RESOLUTION

GRANTING APPROVAL TO THE CULTURAL AFFAIRS DEPARTMENT FOR THE LEASE-PURCHASE OF REAL PROPERTY IN SANTA FE COUNTY OWNED BY THE STATE FOR CASH OR CASH-EQUIVALENT IN AN AMOUNT EXCEEDING ONE HUNDRED THOUSAND DOLLARS ($100,000).

     WHEREAS, Section 13-6-3 NMSA 1978 requires ratification and approval of any sale, trade or lease for a period exceeding twenty-five years in duration of real property belonging to a state agency if the sale, trade or lease is for a consideration of one hundred thousand dollars ($100,000) or more; and

     WHEREAS, the Santa Fe opera, hereafter referred to as "the opera", seeks to enter into a lease-purchase agreement with the state for the following described real property owned by the cultural affairs department:

          All that portion of Tract A, recorded in Plat Book

          435 Page 032, Santa Fe County, New Mexico, which

          portion may be more particularly described as              follows:

          Beginning at a point at the North East corner of the

          parcel of land as described hereon;

          said point lies S 80° 47' 37" W

          a distance of 297.43 feet from an iron pipe found at           the North East corner of Tract A;

          thence S 06° 08' 50" E a distance of 98.10 feet;

          thence N 89° 31' 25" W a distance of 119.42 feet;

          thence N 00° 28' 35" E a distance of 58.63 feet;

          thence N 90° 00' 00" E a distance of 25.12 feet;

          thence N 13° 50' 44" E a distance of 38.85 feet;

          thence N 89° 50' 44" E a distance of 74.01 feet;

          to a point which is the Point of Beginning,                containing an area of 9906 square feet, more or            less; and

     WHEREAS, subject to available appropriations from the legislature and adequate funding from other sources, an open-air rehearsal facility is being constructed for use by the opera and members of the public on the land that the opera seeks to lease and ultimately purchase; and

     WHEREAS, the opera will lease the rehearsal facility for cash consideration equivalent to the facility's fair market value, and will simultaneously provide separate, distinct and additional consideration in cash or cash-equivalent in the form of in-kind services toward the purchase of the rehearsal facility at its fair market value; and

     WHEREAS, the lease-purchase agreement provides that the rehearsal facility shall be sold at its fair market value as established by an independent appraiser using generally accepted appraisal techniques for this type of property for good and valuable consideration, including cash or cash-equivalent in the form of in-kind services; and

     WHEREAS, on receipt of consideration from the opera in cash or cash-equivalent in the form of in-kind services equaling the fair market value of the real property, the cultural affairs department will transfer the real property with improvements to the opera; and

     WHEREAS, the cultural affairs department and the opera have agreed upon a sales price, which will be based upon the appraised value, as established by an independent appraiser using generally accepted appraisal techniques for this type of property, but which in any event shall not be less than one million four hundred fifty thousand dollars ($1,450,000) or such amount as the legislature appropriates to the cultural affairs department for development of the open-air rehearsal facility, such price being satisfied by cash or cash-equivalent in the form of in-kind services, pursuant to the lease-purchase agreement, provided by the opera; and

     WHEREAS, the cultural affairs department and the opera seek the ratification and approval of the lease-purchase agreement and ultimate sale to the opera of the real property with improvements upon it;

     NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO that the lease-purchase agreement and sale of the open-air rehearsal facility and the land on which it is located by the cultural affairs department to the opera upon the payment of valuable consideration pursuant to the lease-purchase agreement in an amount equal to at least one million four hundred fifty thousand dollars ($1,450,000) or such amount as the legislature appropriates to the cultural affairs department for development of the open-air rehearsal facility, such price being satisfied by the value of cash or cash-equivalent in the form of in-kind services provided by the opera, is ratified and approved pursuant to Section 13-6-3 NMSA 1978; and

     BE IT FURTHER RESOLVED that copies of this resolution be transmitted to the secretary of cultural affairs, the state board of finance, the attorney general and the chairman of the board of directors of the opera.

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