2006 New Mexico Statutes - Section 13-1-150 — Multi-term contracts; specified period.

13-1-150. Multi-term contracts; specified period.

A.     A multi-term contract for items of tangible personal property, construction or services except for professional services, in an amount under twenty-five thousand dollars ($25,000), may be entered into for any period of time deemed to be in the best interests of the state agency or a local public body not to exceed four years; provided that the term of the contract and conditions of renewal or extension, if any, are included in the specifications and funds are available for the first fiscal period at the time of contracting. If the amount of the contract is twenty-five thousand dollars ($25,000) or more, the term shall not exceed eight years, including all extensions and renewals, except that for any such contract entered into pursuant to the Public Building Energy Efficiency and Water Conservation Act [Public Facility Energy Efficiency and Water Conservation Act, Chapter 6, Article 23 NMSA 1978], the term shall not exceed ten years, including all extensions and renewals. Payment and performance obligations for succeeding fiscal periods shall be subject to the availability and appropriation of funds therefor.   

B.     A contract for professional services may not exceed four years, including all extensions and renewals, except for the following:   

(1)     services required to support or operate federally certified medicaid, financial assistance and child support enforcement management information or payment systems;   

(2)     services to design, develop or implement the taxation and revenue information management systems project authorized by Laws 1997, Chapter 125;   

(3)     a multi-term contract for the services of trustees, escrow agents, registrars, paying agents, letter of credit issuers and other forms of credit enhancement and other similar services, excluding bond attorneys, underwriters and financial advisors with regard to the issuance, sale and delivery of public securities, may be for the life of the securities or as long as the securities remain outstanding; and   

(4)     services relating to the implementation, operation and administration of the Education Trust Act [ 21-21K-1 NMSA 1978].