Section 4-59-12 – Exemption from taxation.
The bonds authorized by the County Industrial Revenue Bond Act and the income from the bonds, all mortgages or other security instruments executed as security for the bonds, all lease agreements made pursuant to the provisions of the County Industrial Revenue Bond Act, and revenue derived from any lease or sale by the county shall […]
Section 4-59-13 – Construction of act.
The County Industrial Revenue Bond Act shall not 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 Industrial Revenue Bond Act shall not be construed as requiring an election by the voters of […]
Section 4-59-14 – No notice or publication required.
No notice, consent or approval by any commission or public officer shall be required as a prerequisite to the sale or issuance of any bonds or the making of a mortgage under the authority of the County Industrial Revenue Bond Act, except as provided in that act. History: 1953 Comp., § 15-60-14, enacted by Laws […]
Section 4-59-15 – State board of finance.
If any representative of an existing business or enterprise located within the boundaries of the county or within five miles of the proposed project alleges in a written complaint filed with the county governing body within fifteen days of the meeting at which an ordinance or resolution authorizing the issuance of bonds pursuant to the […]
Section 4-59-16 – Liberal interpretation.
The County Industrial Revenue Bond Act shall be liberally construed to carry out its purposes. History: 1953 Comp., § 15-60-16, enacted by Laws 1975, ch. 286, § 16.
Section 4-59-8 – Refunding bonds.
Any bonds issued hereunder and at any time outstanding may at any time and from time to time be refunded by a county by the issuance of its refunding bonds in such amount as the commission may deem necessary but not exceeding any amount sufficient to refund the principal of the bonds to be refunded, […]
Section 4-59-9 – Use of proceeds from sale of bonds.
The proceeds from the sale of any bonds issued under authority of the County Industrial Revenue Bond Act shall be applied only for the purpose for which the bonds were issued; any accrued interest and premiums received in any such sale shall be applied to the payment of the principal of or the interest on […]
Section 4-59-9.1 – Procedure for issuing industrial revenue bonds or refunding bonds.
Prior to the issuance of industrial revenue bonds or refunding bonds for acquisition or improvement of a water utility or a joint water utility, New Mexico public utility commission approval, as required by the Public Utility Act [Chapter 62, Articles 1 to 6 and 8 to 13 NMSA 1978], shall be obtained. H class counties […]
Section 4-59-10 – No contribution by county.
No county shall have the power to pay out of its general funds or otherwise contribute any part of the costs of acquiring a project, and shall not have the power to use land, already owned by the county or in which the county has an equity, for construction of a project or any part […]
Section 4-59-11 – Bonds made legal investments.
Bonds issued under the provisions of the County Industrial Revenue Bond Act shall be legal investments for savings banks and insurance companies organized under the laws of this state. History: 1953 Comp., § 15-60-11, enacted by Laws 1975, ch. 286, § 11.