New Mexico Statutes 73-25-13. Powers of governmental units
A governmental unit, for the purpose of aiding the financing, construction, operation or maintenance of a regional transit system, may:
Terms Used In New Mexico Statutes 73-25-13
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Personal property: All property that is not real property.
A. sell, lease, loan, donate, grant, convey, assign, transfer and otherwise dispose to the district real or personal property or interests therein;
B. enter into agreements with a person for the joint financing, construction, operation or maintenance of a regional transit system. Upon compliance with applicable constitutional or charter limitations, the governmental unit may agree to make payments, without limitation as to amount except as set forth in the agreement, from revenues received from one or more fiscal years, to the district or a person to defray the costs of the financing, construction, operation or maintenance of a regional transit system; and
C. transfer to the district a contract that may have been awarded by the governmental unit for construction, operation or maintenance of a regional transit system.