Section 3-60C-4 – Main street revolving loan committee; committee and division duties.
A. The “main street revolving loan committee” is created, consisting of six members as follows: (1) the director of the division or the director’s designee; (2) the coordinator of the main street program under the Main Street Act [3-60B-1 to 3-60B-4 NMSA 1978] or the coordinator’s designee; (3) the chair of the cultural properties review […]
Section 3-60C-5 – Main street revolving loan fund.
A. The “main street revolving loan fund” is created in the state treasury. The fund shall consist of appropriations, loan payments, federal funds received for the purpose of making loans, gifts, grants, donations and bequests made to the fund. Income from the fund shall be credited to the fund, and money in the fund shall […]
Section 3-60C-6 – Loan program; applications; awards.
A. The division shall administer a program to make direct loans or loan subsidies and shall contract with one or more lending institutions for deposits to be used for the purpose of making or subsidizing loans to property owners for the restoration, rehabilitation or repair of eligible properties. B. The committee shall adopt a procedure […]
Section 3-61-1 – Power to create metropolitan water board; exercise of power.
In addition to all other powers granted to municipalities and counties, the board of county commissioners of any county and the governing board of any municipality lying totally or partially within the boundaries of that county may, by the passage of identical ordinances that comply with the provisions of Section 3-61-1.1 NMSA 1978, create a […]
Section 3-61-1.1 – Metropolitan water board.
A. Except as provided in Subsection B of this section, a metropolitan water board shall be composed of the following: (1) seven elected members as provided in Subsection C of this section; (2) one member who is a registered voter of the municipality appointed by the governing body of the municipality; and (3) one member […]
Section 3-60A-45 – No local government operation.
A. When all principal of, interest on and any prior redemption premium due in connection with the revenue bonds issued for a project leased to a user have been paid in full and in the event the option to purchase or option to renew the lease, if any, contained in the lease has not been […]
Section 3-60A-46 – Limitation of actions.
No action shall be brought questioning the legality of any contract, financing agreement, mortgage, trust indenture, proceeding or bonds executed in connection with any project or improvements authorized by the Redevelopment Bonding Law [3-60A-26 to 3-60A-46 NMSA 1978] on and after thirty days from the effective date of the resolution or ordinance authorizing the issuance […]
Section 3-60A-47 – Sufficiency of code.
A. The Metropolitan Redevelopment Code [3-60A-1 to 3-60A-13, 3-60A-14 to 3-60A-48 NMSA 1978], without reference to other statutes of the state, constitutes full authority for the exercise of powers granted herein, including but not limited to the authorization and issuance of bonds under that code. B. No other act or law with regard to the […]
Section 3-60A-48 – Liberal interpretation.
The Metropolitan Redevelopment Code [3-60A-1 to 3-60A-13, 3-60A-14 to 3-60A-48 NMSA 1978] shall be liberally construed to carry out its purposes. History: Laws 1979, ch. 391, § 48. ANNOTATIONS Severability. — Laws 1979, ch. 391, § 49, provided for the severability of the act if any part or application thereof is held invalid.
Section 3-60B-1 – Short title.
Chapter 3, Article 60B NMSA 1978 may be cited as the “Main Street Act”. History: Laws 1985, ch. 88, § 1; 2013, ch. 60, § 1; 2013, ch. 62, § 1. ANNOTATIONS The 2013 amendment, effective June 14, 2013, added the NMSA chapter and article for the Main Street Act; and at the beginning of […]