Section 21-28-16 – Legal investments; tax exemption.
All bonds issued by a research park corporation under the University Research Park and Economic Development Act are legal and authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, fiduciaries, trustees and guardians and for the sinking funds of political subdivisions, departments, institutions and agencies of this state. When accompanied […]
Section 21-28-17 – Annual report and audit.
A. A research park corporation shall, within ninety days following the close of each fiscal year, submit an annual report of its activities for the preceding year as required by the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978] or the Business Corporation Act [Chapter 53, Articles 11 to 18 NMSA 1978] under which […]
Section 21-28-18 – Repealed.
ANNOTATIONS Repeals. — Laws 1991, ch. 220, § 6 repealed 21-28-18 NMSA 1978, as enacted by Laws 1989, ch. 264, § 18, relating to investment of funds, effective June 14, 1991. For provisions of former section, see the 1990 NMSA 1978 on NMOneSource.com.
Section 21-28-19 – Gifts by persons, corporations, institutions and associations.
A. Any person or domestic corporation or association may make contributions or gifts, grants, bequests, devises or loans to a research park corporation. B. Any university or nonprofit corporation having funds available for research and development, regardless of the provisions of its charter, certificate of incorporation or other articles of organization including bylaws, may loan […]
Section 21-28-4 – Research park corporations; authorization; members; terms; meetings; bylaws.
A. Any university may form, pursuant to the provisions of the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978] or the Business Corporation Act [Chapter 53, Articles 11 to 18 NMSA 1978], one or more research park corporations, separate and apart from the state and the university, to promote, develop and administer research parks […]
Section 21-28-5 – Powers of university as related to research parks.
A. The regents of each university shall have the power to implement and further the purposes of the University Research Park and Economic Development Act, including the power: (1) to establish, acquire, develop, maintain and operate research parks, including all necessary or suitable buildings, facilities and improvements, and to acquire, purchase, construct, improve, remodel, add […]
Section 21-28-6 – Powers of research park corporation.
A research park corporation shall have all the powers necessary and convenient to carry out and effectuate the provisions of the University Research Park and Economic Development Act, including the power to: A. approve or disapprove proposals; B. sue and be sued in its corporate name; C. purchase, take, receive or otherwise acquire; own, hold, […]
Section 21-28-7 – Limitations on application of laws.
A. A research park corporation shall not be deemed an agency, public body or other political subdivision of New Mexico, including for purposes of applying statutes and laws relating to personnel, procurement of goods and services, meetings of the board of directors, gross receipts tax, disposition or acquisition of property, capital outlays, per diem and […]
Section 21-28-8 – Issuance of revenue bonds.
A research park corporation may issue negotiable revenue bonds or notes or both. The proceeds of the sale of bonds issued pursuant to the University Research Park and Economic Development Act shall be used to carry out the provisions of that act and to fund reserves for the research park corporation to pay interest on […]
Section 21-28-9 – Status of bonds.
Bonds and other obligations issued under the provisions of the University Research Park and Economic Development Act shall be deemed issued on behalf of the university, but shall not be deemed to constitute a debt, liability, obligation of or a pledge of the faith and credit of this state or any political subdivision thereof or […]