§ 13-6-2.1. Sales, trades or leases; state board of finance approval

A. Except as provided in Section 13-6-3 NMSA 1978 , for state agencies, any sale, trade or lease for a period of more than five years of real property belonging to a state agency, local public body or school district or any sale, trade or lease of such real property for a consideration of more than twenty-five thousand dollars ($25,000) shall not be valid unless it is approved prior to its effective date by the state board of finance. B. The provisions of this section shall not be applicable to: (1) those institutions specifically enumerated in Article 12, Section 11 of the constitution of New Mexico ; (2) the state land office; (3) the state transportation commission; (4) the economic development department when disposing of property acquired pursuant to the Statewide Economic Development Finance Act; or (5) a school district when leasing facilities to a locally chartered or state-chartered charter school.