New Mexico § 22-26A-4 Notice of proposed lease purchase arrangement;

New Mexico Statutes

§ 22-26A-4 — Notice of proposed lease purchase arrangement;

New Mexico § 22-26A-4

Ch. 22Public Schools

Art. 26APublic School Lease Purchase Act

This text of New Mexico § 22-26A-4 (Notice of proposed lease purchase arrangement;) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 22-26A-4 (2026).

Text

approval of department.

A.When a governing body determines, pursuant to Subsection B of Section 22- 26A-6 NMSA 1978, that a lease purchase arrangement is in the best interest of the school district or the charter school, the governing body shall forward to the department a copy of the proposed lease purchase arrangement and the source of funds that the governing body has identified to make payments due under the lease purchase arrangement.

B.A governing body shall not enter into a lease purchase arrangement without the approval of the department.

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approval of department. A. When a governing body determines, pursuant to Subsection B of Section 22- 26A-6 NMSA 1978, that a lease purchase arrangement is in the best interest of the school district or the charter school, the governing body shall forward to the department a copy of the proposed lease purchase arrangement and the source of funds that the governing body has identified to make payments due under the lease purchase arrangement. B. A governing body shall not enter into a lease purchase arrangement without the approval of the department.