{"data":{"id":"us-nm/6-15a-7","jurisdiction":"us-nm","citation":"6-15A-7","heading":"Lease-purchase arrangements; terms.","body":"Lease-purchase arrangements may:\nA. have interest, appreciated principal value, or any part thereof, payable at intervals or at maturity as may be determined by the local school board;\nB. be subject to prior redemption or prepayment at the option of the local school board as [at] such time or times and upon such terms and conditions with or without the payment of such premium or premiums as may be determined by the local school board;\nC. have a final payment date or mature at any time or times not exceeding five years after the date of issuance;\nD. be payable at one time or in installments or may be in such other form as may be determined by the local school board;\nE. be priced at, above or below par and at a price that results in a net effective interest rate that does not exceed the maximum permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]; and\nF. be sold or issued at public sale, negotiated sale or private sale to the New Mexico finance authority.","path":["Chapter 6 - Public Finances","ARTICLE 15A Education Technology Equipment"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18506/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"3006b2742926902d0606e46311d028dcc7e7d46a72fe9fb735fcff2cc82bd103","source_id":"us-nm","stale":false,"prev":"us-nm/6-15a-6","next":"us-nm/6-15a-8"},"notice":"GroundRules: Original legal text. Not legal advice."}