Section 3-52-14 – Declaration of legislative intent.
The legislature in recognition of the provisions of Public Law 88-365, 88th Congress, 1964, and realizing the importance of modern, efficient, economical transportation facilities in a municipality as an assurance of the convenience to the citizenry and the promotion of economic progress and development, desires to bring existing New Mexico laws in accord with the […]
Section 3-52-15 – Authorization of collective bargaining in municipalities wishing to qualify for grant.
Any municipality desiring to qualify for a grant under the Urban Mass Transportation Act of 1964 (being Public Law 88-365, 88th Congress) may in order to meet the requirements of Section 10, Paragraph (c) of that act, recognize, and enter into collective bargaining with, an appropriate union representing employees of such municipal transit system with […]
Section 3-52-16 – Coercive action prohibited.
This act [3-52-14 to 3-52-16 NMSA 1978] shall not be construed as authorizing or permitting such public employees, associations or groups to carry out such collective bargaining by means of strikes, picketing or any other coercive action. History: 1953 Comp., § 14-53-16, enacted by Laws 1965, ch. 274, § 3. ANNOTATIONS Law reviews. — For […]
Section 3-52-13 – Tax exemptions.
Bonds and their income and all mortgages or other instruments executed as security for them are exempt from all taxation by this state or any of its political subdivisions. History: 1953 Comp., § 14-53-13, enacted by Laws 1965, ch. 300.
Section 3-52-4 – Powers of authorized municipality.
A. Any eligible municipal corporation having elected to invoke the powers set forth in the Municipal Transit Law may engage in the business of transportation of passengers and property within the municipality by whatever means it may decide, and may acquire cars, motor buses and other equipment necessary for carrying on the business. It may […]
Section 3-52-5 – Transportation contracts.
All contracts for work, material or labor in connection with a transportation system shall be let in the manner provided by law for the letting of other contracts by the municipality. History: 1953 Comp., § 14-53-5, enacted by Laws 1965, ch. 300; 1999, ch. 74, § 1. ANNOTATIONS The 1999 amendment, effective June 18, 1999, […]
Section 3-52-6 – Bond ordinance.
The governing body may adopt an ordinance providing: A. for issuance of bonds to enable the municipality to acquire land, buildings, buses or other equipment required for public transit or for refunding bonds previously issued for such purpose or both such purposes; B. the bonds are payable solely from a pledge of: (1) gross income […]
Section 3-52-7 – Terms of bonds.
A. The ordinance authorizing issuance of bonds shall specify: (1) issuance in any number of series; (2) maturity dates; (3) interest not exceeding six percent a year; (4) denominations; (5) form, either coupon or registered; (6) conversion or registration privileges; (7) rank or priority; (8) manner of execution; (9) if desirable, features of redemption, prior […]
Section 3-52-8 – Sale of bonds.
A. Bonds may be sold at either public or private sale; provided that no such bonds may be sold at any price which does not result in an actual net interest cost to maturity, computed on the basis of standard tables of bond values, in excess of six percent. B. If any municipal officer whose […]
Section 3-52-9 – Construction.
The Municipal Transit Law is full authority for authorization and issuance of bonds and no election is necessary. In any proceeding involving the validity and enforceability of any bond or its security, any bond reciting in substance that it was issued by the municipality to aid in financing public transit facilities is conclusively presumed to […]