Section 5-20-7 – Bonding authority.
A. A district may issue revenue bonds, the pledged revenue for which shall be fees, charges, lease payments, installment sale payments or other revenue sources by a project for any one or more of the purposes authorized by the Regional Air Center Special Economic District Act. B. A district may pledge irrevocably any or all […]
Section 5-20-8 – Refunding bonds.
A. A district that has issued bonds in accordance with the Regional Air Center Special Economic District Act may issue refunding bonds for the purpose of refinancing, paying and discharging all or any part of outstanding bonds for the: (1) acceleration, deceleration or other modification of the payment of the outstanding bonds, including, without limitation, […]
Section 5-20-9 – Bonds not obligation of the state.
Except as otherwise provided in the Regional Air Center Special Economic District Act, all bonds or other obligations issued pursuant to that act are payable solely from the revenues of the district that may be pledged to the payment of such obligations, and the bonds or other obligations shall not create an obligation, debt or […]
Section 5-20-10 – Dissolution.
The municipality and county that formed the district and any counties, municipalities, Indian nations, tribes or pueblos that have become part of the district may, by unanimous vote, agree to unwind and dissolve the district and dismiss the authority members if they find the district is not meeting the needs of the community in managing […]
Section 5-18-12 – Change in district.
A. At any time after adoption of a resolution creating a district, property may be added to the district at the request of the owner of the property, upon adoption of a resolution of the district board. B. Property may be deleted from the district only upon request of the property owner and adoption of […]
Section 5-18-13 – Dissolution of district.
The district may be dissolved by the district board by a resolution of the district board upon a determination that the district has no outstanding bond obligations. The district shall not be dissolved if any bonds of the district remain outstanding unless an amount of money sufficient, together with investment income thereon, to make all […]
Section 5-19-1 – Validity of current franchise and right-of-way agreements.
Municipal and county franchise and other agreements with public utilities, as “public utility” is defined by Subsection G of Section 62-3-3 NMSA 1978, providing access to public rights of way that are in effect as of January 1, 2010, are valid and enforceable agreements, including those that provide for a payment of fees by the […]
Section 5-20-1 – Short title.
Sections 1 through 10 [5-20-1 to 5-20-10 NMSA 1978] of this 2019 act may be cited as the “Regional Air Center Special Economic District Act”. History: Laws 2019, ch. 13, § 1. ANNOTATIONS Effective dates. — Laws 2019, ch. 13 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was […]
Section 5-20-2 – Definitions.
As used in the Regional Air Center Special Economic District Act: A. “authority” means the governing body of a district; and B. “district” means an industrial air center special economic district governed by an authority. History: Laws 2019, ch. 13, § 2. ANNOTATIONS Effective dates. — Laws 2019, ch. 13 contained no effective date provision, […]
Section 5-20-3 – Creation of a district.
A municipality and the county in which the municipality is located may agree to form a district: A. the initial boundaries of which lie within the jurisdiction of the municipality, the county or both; B. that includes an industrial air center composed of infrastructure associated with a former United States military base; and C. that […]