§ 6-6-12 — Exemptions from Bateman Act

New Mexico § 6-6-12

• Jurisdiction: New Mexico
• Ch. 6: Public Finances
• Art. 6: Local Government Finances

Text

Insurance contracts not exceeding five years, joint projects between two or more local public bodies not exceeding five years, lease-purchase agreements, lease agreements, contracts providing for the operation or provision and operation of a jail by or with another local public body or by an independent contractor entered into by a local public body set out in Section 6-6-11 NMSA 1978 and guaranteed energy savings contracts and installment payment contracts or lease-purchase agreements pursuant to guaranteed energy savings contracts are exempt from the provisions of Section 6-6-11 NMSA 1978, and such contracts, lease-purchase agreements, lease agreements and jail contracts are declared not to constitute the creation of debt.

Legislative History

1953 Comp., § 11-6-6.1, enacted by Laws 1968, ch. 72, § 8; 1984, ch. 22, § 2;