New Mexico Statutes 3-44-5. Hospitals; special charter towns; authority
A. Any town incorporated, organized and operating under a special act of the legislature may, by resolution or ordinance:
Terms Used In New Mexico Statutes 3-44-5
- 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.
- 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
(1) own, maintain and operate hospitals, sanitariums and other institutions for the care of sick or indigent persons;
(2) issue negotiable bonds for the construction of a hospital, sanitarium or other institution; or
(3) upon such conditions and terms as the governing body of the town may determine:
(a) delegate the operation and maintenance of the hospital, sanitarium or other institution to any person, corporation or association as it selects; or
(b) lease the hospital, sanitarium or other hospital to any person, corporation or association for the care of sick or indigent persons, provided that the lease may be terminated by the governing body of the town without cause upon one hundred eighty days’ notice after the first three years of the lease.
B. The provisions of Sections 3-54-1 through 3-54-3 N.M. Stat. Ann. relating to the leasing of municipal property are not applicable to this section.