The school budget planning unit of the state department of public education, upon the receipt of the notice mentioned in Section 4 [6-15A-4 NMSA 1978] of the Education Technology Equipment Act shall furnish all necessary information with reference to the valuation, present outstanding bonded indebtedness, present outstanding lease-purchase arrangements and limitations as to tax rates and debt contracting power and other information useful to the local school board in the consideration of a proposed lease-purchase arrangement. Upon entering into a lease-purchase arrangement, the local school board shall prepare two true and complete transcripts of proceedings relating to the lease-purchase arrangement, one to be immediately filed with the school budget planning unit of the [state] department of public education and one to be kept by the local school board.
History: Laws 1997, ch. 193, § 5.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Structure 2021 New Mexico Statutes
Article 15A - Education Technology Equipment
Section 6-15A-1 - Short title.
Section 6-15A-3 - Definitions.
Section 6-15A-4 - Notice of proposed lease-purchase arrangements.
Section 6-15A-6 - Tax levy for payment of lease-purchase agreement.
Section 6-15A-7 - Lease-purchase arrangements; terms.
Section 6-15A-9 - Publication of notice; validation; limitation of action.
Section 6-15A-10 - Refunding or refinancing lease-purchase arrangements.
Section 6-15A-11 - Agreement of the state.
Section 6-15A-12 - Legal investments for public officers and fiduciaries.
Section 6-15A-13 - Tax exemption.
Section 6-15A-14 - Cumulative and complete authority.
Section 6-15A-15 - Liberal interpretation.
Section 6-15A-16 - Severability.
Section 6-15A-17 - Charter schools; receipt of education technology equipment.