Dec. 9—Outgoing New Mexico Attorney General Hector Balderas inked a three and a half year contract with a $232,500 annual salary Thursday to become Northern New Mexico College's new president.

Balderas is receiving a significant pay increase to take the reins of the college starting Jan. 1. As attorney general, he is paid $95,000 a year.

"I'm honored that the regents, faculty and staff will collaborate with me as we take on Northern New Mexico College into the future, building on student success and institutional development," Balderas said in a statement. "We're going to enhance the student experience, creating opportunities for them in transformational, educational and professional opportunities."

After a brief executive session, the college's Board of Regents voted unanimously to confirm Balderas as Northern's next president.

Before the board formally offered a contract to Balderas, members lauded interim President Dr. Bárbara M. Medina. Student Regent Evelyn Juárez thanked Medina for leading the institution with grace, humility and "genuine love" for its students.

"I definitely think that you've been a bright light for us, and we've just been very blessed with your experience, your expertise, your heart, and I am going to miss you so much," she said. "You are a true inspiration for all of us Latinas."

Medina called her tenure "a 12-month roller coaster but a good one." She also credited the "excellent staff" at the college.

"You put excellent staff together with young people who want to improve their lives and what you come out of it is a lot of hope and inspiration, so it's really been an honor and a privilege to serve Northern as president," she said.

Balderas, who met term limits and could not run for reelection, was announced as one of four finalists for the president's job in October. The regents voted to give him the job a month ago.

Follow Daniel J. Chacón on Twitter @danieljchacon.

Follow Daniel J. Chacón on Twitter @danieljchacon.