Section 33-2-5 - Disposition of unneeded property. - New Mexico Statutes

33-2-5. Disposition of unneeded property.

If and when the penitentiary of New Mexico, as such body corporate, shall be possessed of any real, personal or mixed property of whatsoever kind or nature which, in the judgment of the director of the corrections division [corrections department] of said body corporate, shall no longer be required for the use of said penitentiary, then in such event the penitentiary of New Mexico shall have the right to sell, trade, mortgage or otherwise alienate any such real, personal or mixed property for such price and upon such terms as to the director of the corrections division [corrections department] shall seem just and proper, and the proceeds to be derived from any such transaction shall become the property of said corporation; provided, however, that in all cases of the sale, trade, mortgage or other alienation of real property belonging to the penitentiary of New Mexico the same shall not take effect until approved by the department of finance and administration.