New Mexico Statutes 4-38-31. [Establishment of airports.]
The boards of county commissioners of the various counties of this state are hereby authorized and empowered to acquire by purchase, condemnation, gift or lease lands for use as an airport and to establish, construct, own, lease, control, equip, improve, maintain and operate an airport, and to lease or grant the use and privilege thereof to others. Such airports and the airstrips and landing fields thereof are hereby declared to be in the nature of public roads in their facilitation of public travel and transportation; and, the buildings and structures necessary to be used in connection therewith are hereby declared to be necessary public buildings, and the exclusive use of any such airport or airports shall not be granted to any person, persons, firm, corporation or association.
Terms Used In New Mexico Statutes 4-38-31
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC