Section 4-60-11 – Bonds made legal investments.
Bonds issued under the provisions of the County Pollution Control Revenue Bond Act shall be legal investments for savings banks and insurance companies organized under the laws of this state and shall be eligible for pledging as collateral for public deposits. History: 1978 Comp., § 4-60-11, enacted by Laws 1978, ch. 181, § 11.
Section 4-60-12 – Exemption from taxation.
The bonds authorized by the County Pollution Control Revenue Bond Act and the income from said bonds, all mortgages or other security instrument [instruments] executed as security for said bonds, all lease agreements made pursuant to the provisions hereof and revenue derived from any lease or sale by the county thereof shall be exempt from […]
Section 4-60-13 – Proceedings for issuance and sale of bonds; no notice or publication required.
Issuance and sale of bonds pursuant to the County Pollution Control Revenue Bond Act shall be authorized by resolution adopted by the governing body of the county issuing said bonds, which resolution shall determine the maximum aggregate principal amount, maximum maturity and maximum interest rate of the bonds to be issued thereunder, and may provide […]
Section 4-60-14 – Construction of act.
Neither the County Pollution Control Revenue Bond Act nor anything herein contained shall be construed as a restriction or limitation upon any powers which a county might otherwise have under any laws of this state, but shall be construed as cumulative; and the County Pollution Control Revenue Bond Act shall not be construed as requiring […]
Section 4-60-15 – Limitation.
Nothing contained in the County Pollution Control Revenue Bond Act shall be construed as repealing or amending the Pollution Control Revenue Bond Act [3-59-1 to 3-59-14 NMSA 1978]. History: 1978 Comp., § 4-60-15, enacted by Laws 1978, ch. 181, § 16.
Section 4-60-3 – Legislative intent.
It is the intent of the legislature by the passage of the County Pollution Control Revenue Bond Act to authorize counties to acquire, own, lease or sell projects for the purpose of reducing, abating or preventing pollution, including, but not limited to, removing pollutants, contaminants or foreign substances from land, air or water, or removing […]
Section 4-60-4 – Additional powers conferred on counties.
In addition to any other powers which it may now have, each county shall have the following powers: A. to acquire, whether by construction, purchase, gift or lease, one or more projects which shall be located within this state and which shall be located outside a municipality in the county or in the county and […]
Section 4-60-5 – Bonds issued to finance projects.
Bonds issued by a county under authority of the County Pollution Control Revenue Bond Act shall not be the general obligation of such county within the meaning of Article 9, Sections 12 and 13 of the constitution of New Mexico. The bonds shall be payable solely out of the revenue derived from the project or […]
Section 4-60-6 – Security for bonds.
The principal of and interest on any bonds issued under the authority of the County Pollution Control Revenue Bond Act shall be secured by a pledge of the revenues out of which such bonds shall be made payable, may be secured by a mortgage covering all or any part of the project or projects from […]
Section 4-60-7 – Requirements respecting lease or agreement of sale.
Prior to the leasing, selling or other disposition of any project or projects, the governing body shall determine and find the following: A. the amount necessary in each year to pay the principal of and the interest on the bonds proposed to be issued to finance part or all of the cost of such project […]