Section 22-26A-5.1 - Transfer or assignment of lease purchase arrangement; designation as public property. - New Mexico Statutes

22-26A-5.1. Transfer or assignment of lease purchase arrangement; designation as public property.

A.     A holder of a lease purchase arrangement, including any public entity holding a lease purchase arrangement, may secure financing by issuing certificates of participation or otherwise assigning or transferring all or a portion of the lease purchase arrangement.

B.     A building or other real property subject to a lease purchase arrangement that has been entered into and approved pursuant to the Public School Lease Purchase Act [22-26A-1 NMSA 1978] shall be considered to be a  public property.