N.M. Admin. Code § 19.2.3.11 - RENTAL
The rental charge for such leases will be negotiated but shall in no event be less than ten cents ($.10) per acre, or fraction thereof, payable annually in advance, but the minimum first (1st) year's rental will be one hundred dollars ($100.00) in any event as provided by Section 19-8-4 NMSA 1978.
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