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 […]
Section 3-65-3 – Definitions.
As used in the Minor League Baseball Stadium Funding Act: A. “authority” means the New Mexico finance authority; B. “chief executive officer” means the mayor or chief administrative officer of a municipality when designated in writing by the mayor to perform duties required by the Minor League Baseball Stadium Funding Act; C. “governing body” means […]
Section 3-65-4 – Authorization of surcharge; use of proceeds.
A. A municipality may impose a stadium surcharge by majority vote of the governing body. If a stadium surcharge has been imposed, the municipality shall include a stadium surcharge in each vendor contract, and each vendor contract shall be signed by the chief executive officer. B. Before establishing the amount of the stadium surcharge to […]
Section 3-65-5 – Collection of surcharge; remittance to the municipality.
A. Every vendor shall collect the stadium surcharge on behalf of the municipality and shall act as a trustee therefor. B. The stadium surcharge shall be collected by vendors from the users of products or services subject to the surcharge. Users shall be charged separately for the stadium surcharge from the cost of the product […]
Section 3-65-6 – Audits.
A municipality shall provide by ordinance a method to either audit or otherwise ensure that vendors subject to the stadium surcharge collect and remit to the treasurer of the municipality the full amount of the surcharge receipts due to the municipality. History: Laws 2001, ch. 231, § 6. ANNOTATIONS Emergency clause. — Laws 2001, ch. […]
Section 3-63-8 – Repealed.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 — Laws 1999, ch. 204, § 8 repealed 3-63-8 NMSA 1978, as enacted by Laws 1988, ch. 32, § 8, relating to petitions to oppose the creation of a business improvement district, effective April 6,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 3-63-10 – 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 […]