Section 5-18-11 – Powers and duties of a district.
A. The district board shall: (1) establish guidelines and standards for renewable energy improvements to be made to property included in the district; (2) establish guidelines and procedures for a property owner to enter into an agreement with the district board to include property in the district; (3) establish guidelines for the documentation required from […]
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 5-18-1 – Short title.
This act [5-18-1 to 5-18-13 NMSA 1978] may be cited as the “Renewable Energy Financing District Act”. History: Laws 2009, ch. 180, § 1. ANNOTATIONS Effective dates. — Laws 2009, ch. 180 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 19, 2009, 90 days after the […]
Section 5-18-2 – Legislative findings.
The legislature finds that: A. the development of renewable energy sources will advance the security, economic well-being and public and environmental health of the state, as well as contributing to the energy independence of the nation and addressing the issue of global climate change; B. it is in the best interests of the state, municipalities […]
Section 5-18-3 – Definitions.
As used in the Renewable Energy Financing District Act: A. “county” means any county, including an H class county; B. “debt service” means the principal of, interest on and premium, if any, on the bonds, when due, whether at maturity or prior redemption and fees and costs of agents necessary to handle the bonds and […]
Section 5-18-4 – Renewable energy financing districts authorized.
A. A governing body of a municipality or county may form a district for the purpose of encouraging, accommodating and financing renewable energy improvements on property within the municipality or county. A district shall include only property for which an owner executes an agreement consenting to the inclusion of the property within the district and […]
Section 5-18-5 – Resolution declaring intention to form district.
A. A governing body may adopt a resolution declaring its intention to form a district. The resolution shall state the following: (1) the purposes for which the district is to be formed; (2) that the district shall include only property for which the owner has agreed to the inclusion of the property within the district, […]
Section 5-18-6 – Hearing; formation of a district.
A. At the hearing on formation of a district, the governing body shall accept and pass on written and oral testimony and evidence presented in support of or in opposition to the formation of the district. After hearing the written and oral testimony, the governing body shall determine whether the district should be formed based […]
Section 5-18-7 – Special assessment; lien created.
A. The district board may impose a special assessment on property within the district to facilitate the financing of renewable energy improvements to the property. The special assessment shall be sufficient in the case of each property to pay the costs of the financing of the renewable energy improvements, including the costs of bond issuance, […]