N.M. Admin. Code § 19.2.21.7 - DEFINITIONS

The following terms are used in this part as defined below:

A. "beneficiary institutions" means those institutions or other entities specified in Section 19-1-17 NMSA 1978, as amended, or other provisions of statute for whose benefit trust lands are held;

B. "commissioner" means the New Mexico commissioner of public lands or the commissioner's agents or employees who are authorized to act in the commissioner's stead in a particular transaction;

C. "cultural property" means a structure, place, site or object having historic, archaeological, scientific, architectural or other cultural significance and included on or eligible for inclusion on either the New Mexico register of cultural properties pursuant to the New Mexico Cultural Properties Act, NMSA 1978, Sections 18-6-1 through 18-6-17, or listed on or eligible for listing on the national register of historic places pursuant to the National Historic Preservation Act, 16 U.S.C. Section 470;

D. "description" when used in connection with describing lands, means a description given in meets and bounds when appropriate, or in aliquot parts in such a way as to delineate each full or partial quarter quarter section and each full or partial lot and the acreage of each, or a description in some other form approved by the commissioner; a description shall include a description of all encumbrances and of all easements or other servitudes burdening or benefiting the property except to the extent that this requirement is waived by the commissioner;

E. "exchange" means a sale of trust lands wherein payment will be accepted by in-kind payment in the form of a conveyance of certain non-trust lands in exchange for a conveyance of certain trust lands, by monetary payment or by any combination thereof;

F. "exchange agreement" means a formal, written agreement entered into between the commissioner and an exchange party for an exchange of trust lands for non-trust lands plus any monetary payment;

G. "exchange applicant" means a governmental entity, or a private entity, that has filed an exchange application or who has qualified to bid on an exchange, under this rule;

H. "exchange party" means an exchange applicant whose exchange proposal has been accepted by the commissioner and who has entered into an exchange agreement with the commissioner;

I. "exchange proposal" means a proposal for an exchange submitted to the commissioner by an exchange applicant in conformance with the requirements of this rule and the provisions of any published request for exchange proposals;

J. "governmental entity" means the state of New Mexico, its agencies or political subdivisions, Indian tribes and pueblos, or federal government agencies other than the department of interior;

K. "hazardous materials" means any substance or material that is governed or regulated by any statute, regulation, rule, order, finding or directive promulgated, issued or enacted by a federal, state or local governmental entity and that relates to industrial hygiene or environmental protection, including but not limited to the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), 42 U.S.C. Sections 9601 - 9675 and any successor provisions, and the Resource Conservation and Recovery Act (RCRA), 42 U.S.C. Sections 6901 - 6992 and any successor provisions;

L. "improvements" means any of the following:

(1) any item of tangible property developed, placed, created or constructed on the lands involved including, but not limited to, buildings, equipment and fixtures;

(2) water rights appurtenant to the lands involved, including without limitation any water rights developed or used on the land involved for the benefit of that land; and

(3) any tangible or intangible property, rights, approvals or privileges obtained or developed for the benefit of, or made appurtenant to, the lands involved that are designated as improvements by the commissioner;

M. "improvement value" means the value of improvements placed on trust lands, which value is finally determined or accepted by the commissioner;

N. "non-trust lands" means lands other than trust lands, located in New Mexico;

O. "qualified appraiser" means a state licensed or certified real estate appraiser as set forth in Section 61-30-3, 61-30-11 and 61-30-12 NMSA 1978 or any successor provisions of law;

P. "raw land value" means the value of land that may be accepted by the commissioner for purposes of in-kind payment after the value of depreciable improvements (if any) have been excluded or reduced from the full appraised value;

Q. "schedule of fees" means a list of fees that must be paid for performance of certain administrative functions. The schedule of fees shall be published on the state land office website and is subject to change at the discretion of the commissioner. Unless otherwise noted in the schedule of fees or in this rule, the fee shall be non-refundable;

R. "state" means the state of New Mexico;

S. "state land office" means the New Mexico state land office;

T. "true value" means fair market value as determined by any objective, reliable and commercially acceptable method including but not necessarily limited to appraisal by an appraiser;

U. "trust" means the trust established by the Enabling Act (Act of June 20, 1910, 36 Statutes at Large 557, Chapter 310), and that trust's assets, which are administered through the state land office by the commissioner;

V. "trust lands" means all lands with all appurtenant rights and privileges, owned by the trust as shown in the state land office master title tract books or other records of the state land office; and

W. "working day" means any day other than a Saturday, a Sunday or a day on which the state land office is required to be closed.

Notes

N.M. Admin. Code § 19.2.21.7

19.2.21.7 NMAC - Rp, 19.2.21.7 NMAC, 06/29/12, Amended by New Mexico Register, Volume XXVII, Issue 12, June 30, 2016, eff. 6/30/2016