Section 3-65-9 – Cumulative and complete authority.
The Minor League Baseball Stadium Funding Act shall be deemed to provide an additional and alternative method for obtaining funding for a minor league baseball stadium, establishing the stadium surcharge and completing the acts authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws of the state, without reference […]
Section 3-65-10 – Liberal interpretation.
The Minor League Baseball Stadium Funding Act, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes of the act. History: Laws 2001, ch. 231, § 10. ANNOTATIONS Emergency clause. — Laws 2001, ch. 231, § 13 contained an emergency clause and was approved April 3, […]
Section 3-66-1 – Short title.
Sections 3 through 11 [3-66-1 to 3-66-11 NMSA 1978] of this act may be cited as the “Municipal Event Center Funding Act”. History: Laws 2005, ch. 351, § 3. ANNOTATIONS Compiler’s notes. — Laws 2005, ch. 351 was not enacted as part of the Municipal Code but was included in that code as a convenience […]
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 3-64-3 – Exemption of certain commercial personal property from property tax by local bodies.
A. The governing body of a county or a municipality may by a majority vote of the members elected to the governing body adopt a resolution exempting commercial personal property of a new business facility located in the county or municipality from the imposition of any property tax on commercial personal property authorized to be […]
Section 3-64-4 – Transmittal of exemption resolution; action of assessor.
A. After a resolution of exemption of personal property is adopted by a governing body, copies of it shall be certified by the clerk of the entity; one copy shall be delivered immediately to the county assessors; and one copy shall be sent to the taxation and revenue department. B. Upon receipt of a certified […]
Section 3-64-5 – Expiration of exemption; action of assessor.
An exemption granted under Section 3-64-3 NMSA 1978 shall automatically terminate on the last day of the property tax year in which it expires pursuant to the exemption resolution or on the last day of the property tax year in which a new business facility ceases commercial operations, whichever occurs first. History: Laws 1991, ch. […]
Section 3-65-1 – Short title.
Sections 1 through 11 [3-65-1 to 3-65-10 NMSA 1978] of this act may be cited as the “Minor League Baseball Stadium Funding Act”. History: Laws 2001, ch. 231, § 1. ANNOTATIONS Cross references. — For exemption to gross receipts tax, see 7-9-13.3 NMSA 1978. Emergency clause. — Laws 2001, ch. 231, § 13 contained an […]
Section 3-65-2 – Findings and purpose.
A. The legislature finds that: (1) the costs of land for and of designing, purchasing, constructing, remodeling, rehabilitating, renovating, improving, equipping, furnishing, operating and maintaining minor league baseball stadiums have increased to a level that local financial resources are inadequate to meet all of the costs; (2) functional and modern minor league baseball stadiums are […]