N.M. Admin. Code § 19.2.22.9

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

Section 19.2.22.9 - INITIATING A LEASE

A. A planning and development lease may be initiated either by an applicant or by the commissioner.

B. Any person, corporation or other legal entity registered with the New Mexico public regulations commission, or any other legal entity authorized to do business in New Mexico, may apply to lease any trust lands under a planning and development lease by submitting an application on forms prescribed by the commissioner.

C. The application for a planning and development lease must, at a minimum, be made under oath and include the applicant's full name and contact information, a general description of the trust land proposed for leasing including its present use and general location, a general description of the proposed planning and development activities and a statement describing the anticipated benefits to the trust.

D. The application must include a nonrefundable application fee and advertising deposit in the amount established by the commissioner.

E. If, after an initial evaluation of an application, the commissioner determines that proceeding with the proposed planning and development lease may be in the best interest of the trust:

(1) the commissioner shall require that a base appraisal be performed consistent with Paragraph (1) of Subsection A of 19.2.22.17 NMAC below;

(2) the commissioner may also require a survey plat and legal description of the trust lands performed by a licensed professional surveyor in the state of New Mexico; and

(3) the commissioner may require any other supplemental information from the applicant deemed appropriate under the circumstances.

F. An applicant may withdraw an application for a planning and development lease at any time.

G. If the applicant is not the successful bidder and the lease is awarded to another party, the successful bidder shall reimburse the applicant for the cost of the appraisal, survey and additional costs incurred by the applicant related to the auction required by the commissioner and born by the applicant.

N.M. Admin. Code § 19.2.22.9

19.2.22.9 NMAC - Rp, 19.2.22.9 NMAC, 11/30/12