§ 22-26A-1 Short title
§ 22-26A-2 Purpose
§ 22-26A-3 Definitions
§ 22-26A-4 Notice of proposed lease purchase arrangement;
§ 22-26A-5 Lease purchase arrangements; terms
§ 22-26A-5.1 Transfer or assignment of lease purchase arrangement;
§ 22-26A-6 Authorizing lease purchase arrangements; resolution
§ 22-26A-7 Payments under lease purchase arrangements
§ 22-26A-8 Authorization for local school board to submit question of lease purchase tax
§ 22-26A-9 Authorizing resolution; time limitation
§ 22-26A-10 Conduct of election; notice; ballot
§ 22-26A-11 Election results; certification
§ 22-26A-12 Imposition of tax; limitations
§ 22-26A-13 Publication of notice; validation
§ 22-26A-14 Refunding or refinancing lease purchase arrangements
§ 22-26A-15 Agreement of the state
§ 22-26A-16 Legal investments for public officers and fiduciaries
§ 22-26A-17 Tax exemption
§ 22-26A-18 Cumulative and complete authority
§ 22-26A-20 Liberal interpretation

Terms Used In New Mexico Statutes > Chapter 22 > Article 26A - Public School Lease Purchase Act

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appraisal: A determination of property value.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Trustee: A person or institution holding and administering property in trust.