New Mexico Salt Water Disposal Lease (Maintained by Rentals)
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FAQ
The lands are held in trust by the New Mexico State Land Office ? about 94 percent of the earnings from these productive lands go to support education.
The Agricultural Leasing Bureau manages over 3,500 leases on state trust land with 600-900 leases requiring renewals annually. The Bureau issues leases for livestock grazing and cropland production on 8.9 million acres.
Established through New Mexico's entry into statehood in 1912, the LGPF has evolved and grown over time due to revenue from leases and royalties produced by non-renewable natural resources in New Mexico (primarily oil and gas), and income from returns on invested capital.
This land, referred to as state trust land, was allocated to New Mexico by the Federal Government under the Ferguson Act of 1898 and the Enabling Act of 1910. The mission of the agency is to use state trust land to raise revenue for New Mexico public schools, hospitals, colleges, and other public institutions.
The most disputed land grant in New Mexico involved the Maxwell Land Grant in northern New Mexico and southern Colorado. The grant was originally made during the Mexican period to two wealthy citizens of Taos, Carlos Beaubien and Guadaloupe Miranda.
In New Mexico , land grants were issued to encourage settlement, to reward patrons of the Spanish government and military officers, and to create a buffer zone between Indian tribes and populated areas.
