US Lawyer Database

Section 6-21-6 – Public project revolving fund; purpose; administration.

A. The “public project revolving fund” is created within the authority. The fund shall be administered by the authority as a separate account, but may consist of such subaccounts as the authority deems necessary to carry out the purposes of the fund. The authority may establish procedures and adopt rules as required to administer the […]

Section 6-20-7 – Carryforward election allocations.

An issuing authority may submit to the board a request for carryforward election allocation with respect to private activity bonds proposed to be issued to finance bonds for a specified carryforward purpose. The date for submission of such requests shall be established by the board annually. A separate request must be submitted for each carryforward […]

Section 6-20-9 – Assignments of allocations and carryforward election allocations.

Allocations and carryforward election allocations are not assignable by an issuing authority. History: Laws 1988, ch. 46, § 9. ANNOTATIONS Applicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, makes the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable to all private activity bonds issued after that date.

Section 6-19-18 – Dissolution of district.

A district shall be dissolved in the following manner: A. there shall be submitted a petition for dissolution to the board of county commissioners signed by at least ten percent of the qualified electors residing within the district. Upon receipt of a proper petition, the board of county commissioners shall call a special election for […]

Section 6-20-1 – Short title.

Sections 1 through 12 [6-20-1 to 6-20-11 NMSA 1978] of this act may be cited as the “Private Activity Bond Act”. History: Laws 1988, ch. 46, § 1. ANNOTATIONS Applicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, made the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable […]

Section 6-20-2 – Definitions.

A. As used in the Private Activity Bond Act: (1) “allocation” means an allocation of the state ceiling issued by the board to an issuing authority to issue private activity bonds; (2) “allocation expiration date” means the expiration date for issuance of private activity bonds or making a mortgage credit certificate election set forth in […]

Section 6-20-3 – Allocation of state ceiling.

A. Until July 1 in any calendar year, forty percent of the state ceiling for the calendar year shall be allocated to state agencies as a group; provided, however, that such allocation shall be made in accordance with directives, rules or regulations governing the distribution of allocations to be established by the board. B. Until […]

Section 6-20-4 – Issuance of private activity bonds.

A. Except as otherwise provided in the Private Activity Bond Act, all private activity bonds issued by any issuing authority and all mortgage credit certificate elections made by an issuing authority on or after the effective date of the Private Activity Bond Act shall be issued or made pursuant to an unexpired allocation. An issuing […]

Section 6-20-5 – Request for allocation.

A request for allocation may be submitted to the board at any time and shall consist of the following: A. a letter from the issuing authority or, in the case of a project, a letter from bond counsel for the issuing authority or the user stating the amount of the state ceiling requested in dollars; […]