Managing State Trust Lands Fiduciary Duty in the Changing West
In partnership with Sonoran Institute
New Mexico Trust Land
 click map to enlarge |
New Mexico State Land Office 310 Old Santa Fe Trail Santa Fe, NM 87501 505-827-5760 |
| Of Interest | |
|---|---|
| State Resources | |
| Current Land Holdings | 8.9 million surface acres; 12.6 million subsurface acres (68 percent of original land grant of 13 million acres) |
| Uses | oil and gas, mining of minerals, grazing, commercial development and recreation |
| Primary Revenue Source | subsurface activities, especially oil and gas |
| Trust Requirements | Lands are held in trust pursuant to the state enabling act and state constitution. New Mexico has one of the most restrictive trust management requirements: trust lands and their natural products may be sold only to the "highest and best bidder at public auction;" all lands and leases must be appraised at their "true value" before being offered; and lands cannot be disposed for less than the appraised value. Lands are managed by the New Mexico State Land Office under the direction of a commissioner of public lands who is elected by the citizens of the state and is advised by a State Land Trusts Advisory Board, composed of seven stakeholders appointed by the commissioner with the advice and consent of the Senate. |
| Beneficiaries |
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