N.M. Admin. Code § 19.2.21.13

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.2.21.13 - SELECTION; REJECTION

A. Within a reasonable time after the published closing date for submission of exchange proposals including any period of time required for requesting, receiving and analyzing any supplemental information or documentation requested by the commissioner, the commissioner may reject all exchange proposals submitted or select the proposal or proposals the commissioner determines to provide the greatest financial benefit to the trust. The commissioner shall notify each exchange applicant whose exchange proposal is rejected. If the commissioner selects more than one proposal, the commissioner shall conduct further review of the proposals so selected, may request supplemental information from the respective applicants, and may conduct a supplemental competitive process among those applicants before making a final selection.

B. The commissioner reserves the right to reject any and all bids, or to cancel an auction, sale, or exchange at any time before closing, and to reinitiate the process of offering the trust lands for long-term lease, sale or exchange on the same or different terms.

19.2.21.13 NMAC - Rp, 19.2.21.10 NMAC, 06/29/12, Amended by New Mexico Register, Volume XXX, Issue 11, June 11, 2019, eff. 6/11/2019