When a school district contemplates entering into a lease-purchase arrangement payable in whole or in part from ad valorem taxes, the local school board, before initiating any proceedings for approval of such lease-purchase arrangement, shall forward to the school budget planning unit of the state department of public education, a written notice of the proposed lease-purchase arrangement.
§ 6-15A-4 NMSA 1978
Notice of proposed lease-purchase arrangements
Known as the Education Technology Equipment Act
The act spans §§ 6–6 (17 sections).
Laws 1997, ch. 193, § 4.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.