New Mexico Administrative Code
Title 1 - GENERAL GOVERNMENT ADMINISTRATION
Chapter 5 - PUBLIC PROPERTY PROCUREMENT AND MANAGEMENT
Part 25 - STATE AGENCIES LEASE-PURCHASING OF REAL PROPERTY
Section 1.5.25.8 - PROPERTY CONTROL DIVISION RESPONSIBILITIES
Current through Register Vol. 35, No. 18, September 24, 2024
A. Adequacy of existing state facilities: the PCD director shall determine whether existing state facilities are adequate for an agency's needs before an agency is allowed to initiate the lease-purchase process from any other public or private entity.
B. Lease-purchase agreements: the PCD director shall have final signatory of all lease-purchases, lease-purchase amendments, lease-purchase extensions, and all other agreements subject to this rule. No such agreement shall be valid or binding on the state of New Mexico or any of its agencies unless it is in writing, (on a PCD approved lease-purchase form) signed by the appropriate parties and approved in writing by the PCD director. The PCD director's signature shall not signify that PCD is a party to an agreement, but only that PCD has authorized, approved, and validated the agreement in compliance with statute and this rule.
C. Director's designee: the PCD director may assign a designee to act on his or her behalf in carrying out his or her duties under this rule. Any such designation shall be in writing.
