Section 21-28-20 – Conflicts of interest.
A. If any director, officer or employee of a research park corporation is interested either directly or indirectly or is an officer or employee of or has any ownership interest in any firm or legal entity interested directly or indirectly in any contract with the research park corporation, except for any agency, instrumentality, department or […]
Section 21-28-21 – Dissolution of research park corporation.
On termination or dissolution of a research park corporation, all rights and properties of the research park corporation shall pass to and be vested in the university which formed the research park corporation, subject to the rights of any bondholders, lienholders, creditors or ownership interests in the research park corporation. History: Laws 1989, ch. 264, […]
Section 21-28-22 – Agreement with the state.
The state does hereby pledge to and agree with the holders of any bonds or notes issued under the University Research Park and Economic Development Act that the state will not limit or alter the rights hereby vested in the research park corporation by that act to fulfill the terms of any agreement made with […]
Section 21-28-23 – Work to conform to federal law when aided by federal appropriations.
In the event of congress making appropriations for the conduct of work similar to that specified in the University Research Park and Economic Development Act, the work of the research park shall conform to the requirements imposed as the conditions for those federal appropriations in order that the work of the research park may be […]
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 […]
Section 21-28-10 – Refunding bonds.
The board of directors of a research park corporation may by resolution provide for the issuance of refunding bonds to refund any outstanding bonds issued under the University Research Park and Economic Development Act, together with redemption premiums, if any, and interest accrued or to accrue thereon. Provisions governing the issuance and sale of bonds […]
Section 21-28-11 – Trust agreements authorized.
In the discretion of the research park corporation, any bonds issued under the provisions of the University Research Park and Economic Development Act may be secured by a trust agreement by and between the research park corporation and a corporate trustee, which may be a bank or trust company having trust powers within or without […]
Section 21-28-2 – Research park; purpose.
The purpose of the University Research Park and Economic Development Act is to: A. promote the public welfare and prosperity of the people of New Mexico; B. foster economic development within New Mexico; C. forge links between New Mexico’s educational institutions, business and industrial communities and government through the development of research parks on university […]
Section 21-28-3 – Definitions.
As used in the University Research Park and Economic Development Act: A. “bond” or “bonds” means any bond, note or other evidence of indebtedness; B. “regents” means: (1) in the case of an educational institution named in Article 12, Section 11 of the constitution of New Mexico, the board of regents of the institution; (2) […]