N.M. Admin. Code § 1.5.23.9 - SALE OR TRADE OF REAL PROPERTY
A. If
the sale or trade of real property is for a consideration of more than
twenty-five thousand dollars ($25,000), then prior board approval is necessary
for:
(1) state agencies (unless the
consideration is one hundred thousand dollars ($100,000) or more, in which case
require approval by the legislature is required);
(2) school districts; and
(3) local public bodies, including, but not
limited to:
(a) counties;
(b) community colleges (but not including
branch community colleges) and technical vocational institutes;
(c) conservancy districts; and
(d) flood control authorities.
B. In order to obtain
approval for the sale or trade of real property, the board requires that the
following information be provided at the time of submission to the board:
(1) any summary information, forms, or
checklists as determined and required by Board staff through established
guidelines;
(2) a cover letter
providing details of the request;
(3) the form of quitclaim deed from the
public body transferring title to purchaser containing the legal description of
the property;
(4) a copy of a
current appraisal report completed by a general certified appraiser for
commercial property or a general certified appraiser or a residential certified
appraiser for residential property and report of review by the property tax
division of the taxation and revenue department if the appraisal was not done
by the property tax division (for both properties if trade); the public entity
seeking property tax division review must submit necessary information to the
property tax division within time frame specified by the property tax division;
when the buyer is another governmental entity, neither an appraisal nor
property tax division review is required;
(5) a description of the reason for the sale
or trade;
(6) selection process
used to determine purchaser; competitive sealed bid, public auction, or
negotiation;
(7) purchase price and
if applicable, cost per square foot, cost per acre, or cost per acre foot of
water rights, etc. (for both properties if trade);
(8) sale agreement, if applicable, containing
a statement making the sale or trade and any amendments to the agreement
subject to board approval;
(9)
resolution or minutes of the governing body, if applicable, authorizing the
sale or trade and containing a provision making the sale or trade subject to
approval by the board;
(10)
approval by the state engineer of any transfer of water rights;
(11) if a school district is seeking approval
of a disposition of real property that includes a building, it must submit
evidence that the building does not meet public school capital outlay council
occupancy standards or that all charter schools located in the district have
declined within a reasonable period of time set by the school district, use of
the building pursuant to Subsection F of Section
22-8B-4 NMSA 1978; and
(12) if a state agency is seeking approval of
the disposition of real property within the boundaries of a community land
grant, a resolution or meeting minutes of the board of trustees of the
community land grant evidencing its intent not to purchase the real property
pursuant to Section
13-6-5 NMSA 1978; in the event a
board of trustees does not respond to the state agency's notice of sale within
forty-five days, the state agency shall document the lack of response in its
submission to the board.
C. Transfer for less than fair market value,
as determined by the requirements of Paragraph (2) of Subsection B of
1.5.23.9 NMAC, of real property
owned by a public entity to any private entity is not permitted, except as
authorized by legislation implementing the economic development and affordable
housing exceptions to the Anti-donation Clause of Article IX, Section 14 of the
New Mexico constitution.
Notes
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