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FD1 Capital Lease Obligations

The Board of Education encourages the use of lease purchase arrangements pursuant to the New Mexico Constitution and state statute and regulation when such financing methods are beneficial to the Albuquerque Public Schools or on an approved charter.

The Superintendent, or his/her designee, shall implement a procedural directive that reflects the important role of lease purchase arrangements and facilitates entering into and financing the retirement of capital lease obligations.

Administrator Responsible:                 Chief Operations Officer/Chief Financial Officer

Implementing Departments:                Capital Master Plan/Facilities, Design and Construction/Charter
                                                                School Office


Legal Cross Ref.:                                NM Const. Article 9, Section 11
                                                            §22-26A-1 et. seq NMSA 1978
Board Policy Cross Ref.:                      FB – Facilities Planning
Procedural Directive Cross Ref.:         District School Attendance Areas Review Committee
                                                           Facilities Master Plan: Review and Update Procedure
                                                            New School Site Selection, Process and Criteria

NSBA/NEPN Classification: FD

Reviewed: February 24, 2009
Approved: March 4, 2009
Reviewed: June 12, 2012
Approved: June 20, 2012
Reviewed: November 11, 2015
Revised: November 18, 2015