Section 58-31-11 – Requirements respecting resolution and lease.
A. A resolution for the issuance of bonds shall set forth the determinations and findings of the authority required by this section. B. Prior to approving a resolution for the issuance of bonds or the closing of a loan for any project, the authority shall determine and find that: (1) the resolution is for the […]
Section 58-31-12 – Use of proceeds from sale of bonds.
A. The proceeds from the sale of any bonds issued pursuant to the Spaceport Development Act shall be applied only for the purpose for which the bonds were issued; provided that: (1) any accrued interest and premiums received in any sale shall be applied to the payment of the principal of or the interest on […]
Section 58-31-13 – Spaceport authority revenue bonds; refunding authorization.
A. The authority may issue refunding revenue bonds for the purpose of refinancing, paying and discharging all or any part of outstanding authority revenue bonds: (1) for the acceleration, deceleration or other modification of payment of such obligations, including, without limitation, any capitalization of any interest in arrears or about to become due for any […]
Section 58-31-14 – Spaceport authority refunding bonds; escrow.
A. Refunding bonds issued pursuant to the Spaceport Development Act shall be authorized by resolution of the authority. Any bonds that are refunded under the provisions of this section shall be paid at maturity or on any permitted prior redemption date in the amounts, at the time and places and, if called prior to maturity, […]
Section 58-31-1 – Short title.
Chapter 58, Article 31 NMSA 1978 may be cited as the “Spaceport Development Act”. History: Laws 2005, ch. 128, § 1; 2018, ch. 61, § 2. ANNOTATIONS Cross references. — For gross receipts tax deduction for spaceport operations, see 7-9-54.2 NMSA 1978. For gross receipts and compensating tax exemption for fuel for space vehicles, see […]
Section 58-31-2 – Purpose.
The purpose of the Spaceport Development Act is to: A. encourage and foster development of the state and its cities and counties by developing spaceport facilities in New Mexico; B. actively promote and assist public and private sector infrastructure development to attract new industries and businesses, thereby creating new job opportunities in the state; C. […]
Section 58-31-3 – Definitions.
As used in the Spaceport Development Act: A. “authority” means the spaceport authority; B. “project” means any land, building or other improvements acquired as part of a spaceport or associated with a spaceport or to aid commerce in connection with a spaceport and all real and personal property deemed necessary in connection with the spaceport; […]
Section 58-31-4 – Spaceport authority created; membership.
A. The “spaceport authority” is created. The authority is a state agency and is administratively attached to the economic development department. B. The authority shall consist of seven voting and two nonvoting members, six of whom shall be appointed by the governor with the consent of the senate; provided that one of the appointed members […]