New Mexico § 22-26A-7 Payments under lease purchase arrangements

New Mexico Statutes

§ 22-26A-7 — Payments under lease purchase arrangements

New Mexico § 22-26A-7

Ch. 22Public Schools

Art. 26APublic School Lease Purchase Act

This text of New Mexico § 22-26A-7 (Payments under lease purchase arrangements) 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-7 (2026).

Text

A school district or charter school may apply any legally available funds to acquire or improve buildings or other real property subject to a lease purchase arrangement or to the payments due under a lease purchase arrangement, including any combination of: A. money from the school district's or charter school's general fund; B. investment income actually received from investments; C. proceeds from taxes imposed pursuant to the Public School Capital Improvements Act [Chapter 22, Article 25 NMSA 1978] or the Public School Buildings Act [Chapter 22, Article 26 NMSA 1978]; D. loans, grants or lease payments received from the public school capital outlay council pursuant to the Public School Capital Outlay Act [Chapter 22, Article 24 NMSA 1978]; E. state distributions to the school district or

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A school district or charter school may apply any legally available funds to acquire or improve buildings or other real property subject to a lease purchase arrangement or to the payments due under a lease purchase arrangement, including any combination of: A. money from the school district's or charter school's general fund; B. investment income actually received from investments; C. proceeds from taxes imposed pursuant to the Public School Capital Improvements Act [Chapter 22, Article 25 NMSA 1978] or the Public School Buildings Act [Chapter 22, Article 26 NMSA 1978]; D. loans, grants or lease payments received from the public school capital outlay council pursuant to the Public School Capital Outlay Act [Chapter 22, Article 24 NMSA 1978]; E. state distributions to the school district or charter school pursuant to the Public School Capital Improvements Act; F. fees or assessments received by the school district; G. proceeds from the sale of real property and rental income received from the rental or leasing of school district or charter school property; H. grants from the federal government as assistance to those areas affected by federal activity authorized in accordance with Title 20 of the United States Code, commonly known as "PL 874 funds" or "impact aid"; I. revenues from the tax authorized pursuant to Sections 22-26A-8 through 22-26A- 12 NMSA 1978, if proposed by the local school board and approved by the voters; and J. legislative appropriations.