Section 22-28-1 – Bus advertisements authorized; limitations and restrictions.
A. The state transportation division of the department of education [public education department] shall authorize local school boards to sell advertising space on the interior and exterior of school buses. The local school board shall develop guidelines for the type of advertisements that will be permitted. There shall be no advertisements that involve: (1) obscenity, […]
Section 22-28-2 – School bus title; leasing space.
A. All school bus private owners that have legal title to school buses used and operated pursuant to an existing bus service contract with a school district may lease space on their buses to the school district for the purpose of selling commercial advertisements. In exchange for leasing the space, the school bus private owners […]
Section 22-28-3 – Solicitation; lease; rent payment.
A. A school district shall be permitted to solicit offers from commercial advertisers for the use of space on the school buses that service their school district. The school district may enter into a lease agreement with a commercial advertiser for the use of any designated advertising space on a school bus that services the […]
Section 22-26A-11 – Election results; certification.
The certification of the results of an election held on the question of imposition of a lease purchase tax shall be made in accordance with the Local Election Act [Chapter 1, Article 22 NMSA 1978], and a copy of the certificate of results shall be mailed immediately to the secretary. History: Laws 2007, ch. 173, […]
Section 22-26A-12 – Imposition of tax; limitations.
If as a result of an election held in accordance with Sections 22-26A-8 through 22-26A-11 NMSA 1978 a majority of the qualified electors voting on the question votes in favor of the imposition of the tax, the tax rate shall be certified, unless the local school board directs that the tax levy not be made […]
Section 22-26A-13 – Publication of notice; validation.
A. After adoption of a resolution approving a lease purchase arrangement, the governing body shall publish notice of the adoption of the resolution once in a newspaper of general circulation in the school district in which the governing body’s school is located. B. After the passage of thirty days from the publication required by Subsection […]
Section 22-26A-14 – Refunding or refinancing lease purchase arrangements.
School districts and charter schools may enter into lease purchase arrangements for the purpose of refunding or refinancing any lease purchase arrangements then outstanding, including the payment of any prepayment premiums thereon and any interest accrued or to accrue to the date of prepayment maturity of the outstanding lease purchase arrangements. Until the proceeds of […]
Section 22-26A-15 – Agreement of the state.
The state does hereby pledge to and agree with the holders of any lease purchase arrangement, certificates of participation or other partial interest in a lease purchase arrangement entered into under the Public School Lease Purchase Act that the state will not limit or alter the rights vested in school districts or charter schools to […]
Section 22-26A-16 – Legal investments for public officers and fiduciaries.
Lease purchase arrangements entered into under the authority of the Public School Lease Purchase Act, including certificates of participation and other partial interests in such lease purchase arrangements, shall be legal investments in which all insurance companies, banks and savings and loan associations organized under the laws of the state, public officers and public bodies […]
Section 22-26A-17 – Tax exemption.
The state covenants with the original holder and all subsequent holders and transferees of lease purchase arrangements entered into by governing bodies, in consideration of the acceptance of and payment for the lease purchase arrangements entered into pursuant to the Public School Lease Purchase Act, that lease purchase arrangements, certificates of participation and other partial […]