Section 3-66-7 – Enforcement; penalties.
A. An action to enforce the imposition and collection of an event center surcharge by a vendor may be brought by a municipality. B. A district court may issue an appropriate judgment, order or remedy to enforce the provisions of a vendor contract. C. A judgment issued by a district court requiring event center surcharge […]
Section 3-66-8 – Issuance of bonds.
A. A municipality may issue revenue bonds, in accordance with the procedures set forth in Sections 3-31-3 through 3-31-7 NMSA 1978, to acquire land for and to design, purchase, construct, remodel, renovate, rehabilitate, improve, equip or furnish a municipal event center. B. Revenue bonds issued by a municipality may be secured by event center revenues, […]
Section 3-66-9 – Cumulative and complete authority.
The Municipal Event Center Funding Act shall be deemed to provide an additional and alternative method for obtaining funding for a municipal event center, establishing and collecting event center revenues and the event center surcharge and completing the acts authorized pursuant to that act, and shall be regarded as supplemental and additional to powers conferred […]
Section 3-66-10 – Liberal interpretation.
The Municipal Event Center Funding Act shall be liberally construed to carry out its purpose. History: Laws 2005, ch. 351, § 12. ANNOTATIONS Emergency clause. — Laws 2005, ch. 351, § 14 contained an emergency clause and was approved April 8, 2005.
Section 3-66-11 – Severability.
If any part or application of the Municipal Event Center Funding Act is held invalid, the remainder or its application to other situations or persons shall not be affected. History: Laws 2005, ch. 351, § 13. ANNOTATIONS Emergency clauses. — Laws 2005, ch. 351, § 14 contained an emergency clause and was approved April 8, […]
Section 3-66-2 – Findings and purpose.
A. The legislature finds that: (1) the costs of acquiring land for and of designing, purchasing, constructing, remodeling, rehabilitating, renovating, improving, equipping, furnishing, operating and maintaining municipal event centers have increased to a level that local financial resources are inadequate to meet all of the costs; (2) functional and modern municipal event centers are essential […]
Section 3-66-3 – Definitions.
As used in the Municipal Event Center Funding Act: A. “bonds” means revenue bonds issued by a municipality to pay for some or all of the costs of acquiring land for and designing, purchasing, constructing, remodeling, rehabilitating, renovating, improving, equipping and furnishing a municipal event center; B. “chief executive officer” means the mayor or chief […]
Section 3-66-4 – Authorization of surcharge and other fees; use of proceeds; transfer.
A. A municipality in which a municipal event center is located may establish by ordinance an event center surcharge of not less than five percent of each vendor contract entered into by that municipality. As otherwise established by that municipality, the event center surcharge may be any percentage greater than five percent of each vendor […]
Section 3-66-5 – Collection of event center surcharge; remittance to municipality.
A. Upon the sale of a product or service subject to the event center surcharge, a vendor shall collect the event center surcharge from the purchaser of that product or service on behalf of the municipality and shall act as a trustee for the surcharge receipts. A purchaser of a product or service subject to […]
Section 3-66-6 – Audits.
A municipality shall provide by ordinance a method to audit or otherwise ensure that vendors subject to the event center surcharge collect and remit to the treasurer of the municipality the full amount of the surcharge receipts due to the municipality. History: Laws 2005, ch. 351, § 8. ANNOTATIONS Emergency clause. — Laws 2005, ch. […]