There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 19: Public Lands
Article 5: Classification, Care and Protection of State Lands, 19-5-1 through 19-5-10
Section 19-5-9: Water developed by lessee; credit.
NM Stat § 19-5-9 (1996 through 1st Sess 50th Legis) What's This?
19-5-9. [Water developed by lessee; credit.]
The commissioner may contract with lessees of state lands to develop water thereon, and in consideration of any such improvement the lessee shall be credited with not to exceed one-third of the rental value of the land leased during the term of the lease.
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