New Mexico Administrative Code
Title 19 - NATURAL RESOURCES AND WILDLIFE
Chapter 2 - STATE TRUST LANDS PART 24 CULTURAL PROPERTIES PROTECTION
Part 7 - RELATING TO GEOTHERMAL RESOURCES LEASES
Section 19.2.7.38 - PERFORMANCE SURETY

Before a lease shall issue, the lessee shall file with the commissioner a bond or other surety in an amount to be set by the commissioner which the commissioner deems necessary to guarantee payment of royalties to become due the state of New Mexico. With the approval of the commissioner, in lieu of separate surface improvement damage and performance bonds, a twenty-five thousand dollar ($25,000.00) bond or other surety may be used at the option of lessee for the use and benefit of the commissioner, to secure surface improvement damage and the performance of the lessee as lessee under one or more state leases or permits for minerals, oil and gas, coal or geothermal resources, or as holder under one or more state rights of way or easements which the lessee has executed with the commissioner. The lessee will be obligated to perform and keep all terms, covenants, conditions and requirements of all state leases for minerals, oil and gas, coal or geothermal resources, and of all state rights of way and easements executed with the commissioner, including the payment of royalties when due and compliance with all established mining plans and reclamation requirements.