SENATE BILL 555

51st legislature - STATE OF NEW MEXICO - first session, 2013

INTRODUCED BY

Gerald Ortiz y Pino

AN ACT

RELATING TO PROCUREMENT; PROVIDING PROCEDURES FOR THE TRADE, EXCHANGE OR DISPOSAL OF ITEMS OF TANGIBLE PERSONAL PROPERTY OF A STATE-OWNED RAILROAD.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. A new section of the Procurement Code is enacted to read:

     "[NEW MATERIAL] TRADE, EXCHANGE OR DISPOSAL OF TANGIBLE PERSONAL PROPERTY--STATE-OWNED RAILROAD.--

          A. The tangible personal property of a state-owned railroad may be traded or exchanged for new items of tangible personal property, or disposed of, pursuant to the provisions of this section. The central purchasing office may require in a request for proposals that quotes be submitted for the purchase or disposal of the tangible personal property to be traded in, exchanged or disposed of. The tangible personal property may be traded, exchanged or disposed of pursuant to the terms of the contract with the responsible offeror who is awarded the contract if an amount offered in trade or exchange, or amount for disposal, in the proposal is found by the central purchasing office to be:

                (1) a fair reflection of the current market value;

                (2) representative of the condition of the tangible personal property;

                (3) in the best interest of the agency; and

                (4) included as an itemized adjustment in the price in the case of a trade or exchange, or itemized cost in the case of disposal.

          B. All terms of the trade, exchange or disposal of the items of tangible personal property shall be part of the contract."

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