Section 6-21A-3 – Definitions.
As used in the Drinking Water State Revolving Loan Fund Act: A. “authority” means the New Mexico finance authority; B. “department” means the department of environment; C. “drinking water facility construction project” means the acquisition, design, construction, improvement, expansion, repair or rehabilitation of all or part of any structure, facility or equipment necessary for a […]
Section 6-21-22 – Corporate existence.
The authority and its corporate existence shall continue until terminated by law, provided that no such law shall take effect so long as the authority has bonds or other obligations outstanding, unless adequate provision has been made for the payment of such obligations. Upon termination of the existence of the authority, all its rights and […]
Section 6-21-23 – Prohibited actions.
The authority shall not: A. lend money or make a grant other than to a qualified entity; B. purchase securities other than from a qualified entity or other than for investment as provided in the New Mexico Finance Authority Act; C. lease a public project to any entity other than a qualified entity; except that […]
Section 6-21-24 – Conflicts of interest; penalty.
A. If any member, officer or employee of the authority has an interest, either direct or indirect, in any contract to which the authority is or is to be a party, such interest shall be disclosed to the authority in writing and shall be set forth in the minutes of the authority. The member, officer […]
Section 6-21-25 – Limitation of liability.
Neither any member of the authority nor any person acting in its behalf, while acting within the scope of his authority, shall be subject to any personal liability for any action taken or omitted within that scope of authority. History: Laws 1992, ch. 61, § 25.
Section 6-21-26 – Court proceedings; preference; venue.
Any action or proceeding to which the authority or the people of the state may be a party in which any question arises as to the validity of the New Mexico Finance Authority Act or project or transaction undertaken by the authority pursuant to that act shall be preferred over all other civil cases in […]
Section 6-21-27 – Cumulative authority.
The New Mexico Finance Authority Act shall be deemed to provide an additional and alternative method for the doing of things authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws and shall not be regarded as in derogation of any powers now existing; provided that the issuance of […]
Section 6-21-28 – Liberal interpretation.
The New Mexico Finance Authority Act, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes of that act. History: Laws 1992, ch. 61, § 28.
Section 6-21-29 – Severability.
If any part or application of the New Mexico Finance Authority Act is held invalid, the remainder or its application to other situations shall not be affected. History: Laws 1992, ch. 61, § 29.
Section 6-21-30 – New Mexico finance authority oversight committee.
There is created a joint interim legislative committee that shall be known as the “New Mexico finance authority oversight committee”. The legislative council shall determine the membership of the committee and shall appoint the members and designate the chairman and the vice chairman in accordance with legislative council policies. The staff for the committee shall […]