Section 6-25A-23 – Severability.
If any part or application of the New Mexico Exposition Center Authority Act is held invalid, the remainder or its application to other situations shall not be affected. History: Laws 2005, ch. 342, § 23. ANNOTATIONS Effective dates. — Laws 2005, ch. 342, § 24 made the act effective April 7, 2005.
Section 6-25A-8 – Bonds; authorization for issuance; terms and conditions.
A. Bonds of the authority shall be authorized by resolution of the authority and may be issued in one or more series. The bonds shall bear the dates, be in the form, be issued in the denominations, have terms and maturities, bear interest at rates and be payable and evidenced in the manner and times […]
Section 6-25A-9 – Bonds secured by trust indenture.
Bonds of the authority may be secured by a trust indenture between the authority and a corporate trustee that may be either a bank having trust powers or a trust company. The trust indenture may contain reasonable provisions for protecting and enforcing the rights and remedies of bondholders, including covenants setting forth the duties of […]
Section 6-25A-10 – Publication of notice; validation; limitation of action.
A. After adoption of a resolution authorizing issuance of bonds, the authority shall publish notice of the adoption of the resolution once in a newspaper of general statewide circulation. B. After the passage of thirty days from the publication required by Subsection A of this section, an action attacking the validity of the proceedings had […]
Section 6-25A-11 – Refunding bonds.
The authority may issue its bonds for the purpose of refunding bonds then outstanding, including the payment of redemption premiums and interest accrued or to accrue to the date of redemption of the outstanding bonds. Until the proceeds of the bonds issued for the purpose of refunding outstanding bonds are applied to the purchase or […]
Section 6-25A-12 – Remedies of bondholders.
A holder of bonds issued by the authority or a trustee under a trust indenture entered into pursuant to the New Mexico Exposition Center Authority Act, except to the extent that its rights are restricted by a bond resolution or trust indenture authorized pursuant to the bond resolution, may protect and enforce, by a suitable […]
Section 6-25A-1 – Short title.
This act [6-25A-1 to 6-25A-23 NMSA 1978] may be cited as the “New Mexico Exposition Center Authority Act”. History: Laws 2005, ch. 342, § 1. ANNOTATIONS Effective dates. — Laws 2005, ch. 342, § 24 made the act effective April 7, 2005.
Section 6-25A-2 – Legislative findings.
The legislature finds that: A. there is a need for appropriate facilities in this state to enhance, foster, aid, provide and promote transportation, economic development, housing, recreation, education, culture, history and sense of place and for governmental operations necessary to support such activities; B. there is a need for suitable facilities for expositions, conventions, exhibitions, […]
Section 6-25A-3 – Definitions.
As used in the New Mexico Exposition Center Authority Act: A. “authority” means the New Mexico exposition center authority; B. “bond” means a bond, note, certificate of participation or other evidence of indebtedness; C. “bondholder” or “holder” means a person who is the owner of a bond, whether registered or not; D. “exposition center” means […]
Section 6-25A-4 – New Mexico exposition center authority created; membership; qualifications; quorum; meetings; compensation; bond.
A. There is created a public body politic and corporate, separate and apart from the state, constituting a governmental instrumentality to be known as the “New Mexico exposition center authority” for the performance of essential public functions. B. The authority shall be composed of fifteen members, including the secretary of finance and administration, the secretary […]