New Mexico § 6-15A-7 Lease-purchase arrangements; terms

New Mexico Statutes

§ 6-15A-7 — Lease-purchase arrangements; terms

New Mexico § 6-15A-7

Ch. 6Public Finances

Art. 15AEducation Technology Equipment

This text of New Mexico § 6-15A-7 (Lease-purchase arrangements; terms) 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. § 6-15A-7 (2026).

Text

Lease-purchase arrangements may: A. have interest, appreciated principal value, or any part thereof, payable at intervals or at maturity as may be determined by the local school board; B. be subject to prior redemption or prepayment at the option of the local school board as [at] such time or times and upon such terms and conditions with or without the payment of such premium or premiums as may be determined by the local school board; C. have a final payment date or mature at any time or times not exceeding five years after the date of issuance; D. be payable at one time or in installments or may be in such other form as may be determined by the local school board; E. be priced at, above or below par and at a price that results in a net effective interest rate that does not exceed the maxi

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Lease-purchase arrangements may: A. have interest, appreciated principal value, or any part thereof, payable at intervals or at maturity as may be determined by the local school board; B. be subject to prior redemption or prepayment at the option of the local school board as [at] such time or times and upon such terms and conditions with or without the payment of such premium or premiums as may be determined by the local school board; C. have a final payment date or mature at any time or times not exceeding five years after the date of issuance; D. be payable at one time or in installments or may be in such other form as may be determined by the local school board; E. be priced at, above or below par and at a price that results in a net effective interest rate that does not exceed the maximum permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]; and F. be sold or issued at public sale, negotiated sale or private sale to the New Mexico finance authority.