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, […]
Section 5-17-28 – General obligation bonds; tax levy; exception.
A. At any time after the organization of the infrastructure development zone, the board may order and call a general obligation bond election to submit to the eligible electors the question of authorizing the infrastructure development zone to issue general obligation bonds of the infrastructure development zone to provide money for any services consistent with […]
Section 5-17-29 – Special assessment; bonds; imposition.
A. At any time after the organization of the infrastructure development zone, the board may from time to time order that a hearing be held to determine whether a special assessment should be imposed and special assessment bonds issued to provide money for any services consistent with the service plan. The question of imposing a […]
Section 5-17-30 – Revenue bonds; fees and charges.
A. At any time after the organization of the infrastructure development zone, the board may hold a hearing on the question of authorizing the board to issue one or more series of revenue bonds of the infrastructure development zone to provide money for any public infrastructure purposes consistent with the service plan. B. If revenue […]
Section 5-17-31 – Term of bonds.
For any bonds issued in connection with Section 28, 29 or 30 [5-17-28, 5-17-29, 5-17-30 NMSA 1978] of the Infrastructure Development Zone Act, the board shall prescribe the denominations of the bonds, the principal amount of each issue and the form of the bonds and shall establish the maturities, which shall not exceed thirty years, […]
Section 5-17-32 – Petition for tax reduction; annual financial estimate; budget; certification to local government division.
A. Upon presentation to the board of a petition signed by the owners of a majority of the property in the infrastructure development zone, the board shall adopt a resolution to reduce or eliminate the portion of a tax or special assessment, beginning the next fiscal year, required for one or more services specified in […]
Section 5-17-33 – Bonds not obligation of state.
Except as otherwise provided in the Infrastructure Development Zone Act, all bonds or other obligations issued pursuant to that act are payable solely from the revenues of the infrastructure development zone that may be pledged to the payment of such obligations, and the bonds or other obligations shall not create an obligation, debt or liability […]