Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Real Property topic
No spam. Unsubscribe anytime.
Board approves sale of Sixth Street Elementary to Western New Mexico University for $1.4 million; purchase agreement authorized
Summary
Silver Consolidated Schools'9 board voted to adopt a jointly drafted resolution and to authorize execution of a purchase and sale agreement conveying the Sixth Street Elementary property (about 3.12 acres at 405 W. 6th St.) to Western New Mexico University for $1,400,000, contingent on state approvals.
The Silver Consolidated Schools Board on April 20 approved a resolution and authorized a purchase agreement to sell the Sixth Street Elementary property at 405 West Sixth Street in Silver City to Western New Mexico University for a negotiated amount of $1,400,000 plus reasonable and necessary costs.
The resolution, read aloud during the meeting, states the district and the university are both authorized under NMSA 1978 (board of education and board of regents statutes were cited in the reading) to convey and acquire real property. The sale covers four adjoining parcels totaling approximately 3.12 acres.
Both the district'9s and the university'9s approvals are contingent on signoffs required by state authorities: the New Mexico State Board of Finance must approve the district'9s obligations and the New Mexico Higher Education Department must approve the university'9s obligations under the purchase and sale agreement. The resolution directs the board president and university regents chair to execute the purchase and sale agreement and to sign any non‑substantive amendments needed to complete the transaction.
Board members discussed the reading and moved to consider the resolution and purchase agreement as action items. Both the resolution and the corresponding purchase agreement passed by voice vote.
What'9s next: The sale remains contingent on the state approvals cited in the resolution; district staff will proceed with the administrative steps authorized by the board and will return to the board with any material changes or updates required by state review.
