New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 70 - CAPITAL EXPENDITURES
Part 5 - POLICY FOR USE OF CAPITOL BUILDINGS REPAIR FUND
Section 2.70.5.8 - POLICY
Universal Citation: 2 NM Admin Code 2.70.5.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. The capitol buildings repair fund will only be utilized when the property control division director, upon approval of the state board of finance, determines:
(1) that an immediate need or emergency
exists or that the expenditure is consistent with an approved schedule of
repairs; and
(2) that no other
sources of funding are readily available; it is not the intent of this policy
to fund new capital outlay projects or agency personnel costs.
B. Priority will be given to projects that achieve:
(1) correction of code
violations or any other applicable codes; compliance with ADA requirements or
any other applicable laws; structural repairs including repairs to roofs,
supporting walls and foundations; repairs of electrical and mechanical systems;
or increased energy efficiency with a payback of five years or less;
or
(2) projects that are consistent
with an approved schedule of repairs.
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