Section 3-63-10 – Notice and hearing.
A. The notice of public hearing required by the Business Improvement District Act shall contain: (1) the time and place where the planning committee will hold a hearing on the proposed district and improvements; (2) the estimated cost of improvements; (3) the boundary of the district; and (4) the recommended formula or the preliminary estimate […]
Section 3-63-11 – Management committee; creation; duties.
A. The council, upon adoption of an ordinance creating a district, shall appoint a management committee that shall be responsible for the operation of the district in one of the following manners: (1) the council shall appoint an existing downtown, community or central business district revitalization nonprofit corporation that operates within the boundaries of the […]
Section 3-63-12 – Issuance and sale of bonds.
A. An incorporated municipality shall have power to issue business improvement district revenue bonds from time to time in its discretion to finance the undertaking of any improvement within a district or the exercise of any power, authorized or delegated under the Business Improvement District Act, including but not limited to the issuance of bonds […]
Section 3-63-13 – Annual assessment; special account.
A. The council, upon recommendation of the management committee, may annually assess a business improvement benefit fee as defined by the ordinance upon all real property owners and business owners, exclusive of: (1) governmentally owned real property; (2) residential real property that is not multifamily residential rental property with at least four units or homeowners […]
Section 3-63-14 – Assessments; terms of payment; liens; foreclosure.
A. The council shall by ordinance: (1) establish the time and terms of paying the business improvement benefit fee or installments on the fee; (2) set any rate or rates of interest upon deferred payments of the fee, which shall commence from the last date of publication of the ordinance ratifying the assessment; (3) fix […]
Section 3-63-15 – District review.
The council shall review each district every five years, and prior to the issuance of business improvement district revenue bonds other than those issued or committed during the first five-year period, to determine whether the district should remain in existence. If a majority of the council decides that the purpose for which the district was […]
Section 3-63-16 – Business improvement benefit fee distribution.
The business improvement benefit fee shall be distributed to the management committee on an annual basis pursuant to rules and guidelines established by the council and in accordance with the approved budget of the management committee. History: Laws 1988, ch. 32, § 16.
Section 3-63-8 – Repealed.
ANNOTATIONS Repeals. — Laws 1999, ch. 204, § 8 repealed 3-63-8 NMSA 1978, as enacted by Laws 1988, ch. 32, § 8, relating to petitions to oppose the creation of a business improvement district, effective April 6, 1999. For provisions of former section, see the 1998 NMSA 1978 on NMOneSource.com.
Section 3-63-9 – Planning group.
Upon the initiation of a proposed district, the council shall appoint a planning group consisting of not more than five members, not less than one of which shall be a business owner and not less than two of which shall be real property owners, subject to the assessment, located within the proposed district. History: Laws […]
Section 3-63-1 – Short title.
This act [3-63-1 to 3-63-16 NMSA 1978] may be cited as the “Business Improvement District Act”. History: Laws 1988, ch. 32, § 1. ANNOTATIONS Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 94 et seq.; 70A Am. Jur. 2d Special or Local Assessments § 5 et […]