Section 6-19-12 – Refunding bonds.
A. The board of trustees may issue bonds in the form determined by the board of trustees for the purpose of refunding any of the general obligation bonded indebtedness of the district which has or may hereafter become payable at the option of the district or by consent of the bondholder or by any lawful […]
Section 6-18-14 – Interest; refunding; approval by local government; additional findings.
Bonds issued under the Public Securities Short-Term Interest Rate Act are not subject to any limitations on interest rates or net effective interest rates or interest rate approval requirements contained in any other laws of this state provided that: A. the bond legislation shall contain findings by the governing body that any fixed rate or […]
Section 6-18-15 – Liberal construction; alternative authority.
The authority granted by the Public Securities Short-Term Interest Rate Act shall be liberally construed so that the purposes and powers provided for may be carried out in effective, efficient and convenient manners by public bodies. The authority granted by that act is supplemental to and provides alternatives for authority granted by other law, and […]
Section 6-18-16 – No action maintainable.
No action or proceeding, at law or in equity, to review any bond legislation, or to question the validity or enjoin the performance of any bond legislation, bond or act, or the issuance of any bond authorized by the Public Securities Short-Term Interest Rate Act, or for any other relief against the public body, the […]
Section 6-19-1 – Short title.
This act [6-19-1 to 6-19-18 NMSA 1978] may be cited as the “Economic Advancement District Act”. History: Laws 1987, ch. 115, § 1. ANNOTATIONS Am. Jur. 2d, A.L.R. and C.J.S. references. — 56 Am. Jur. 2d Municipal Corporations §§ 542, 543; 64 Am. Jur. 2d Public Securities and Obligations §§ 107 to 109. 64 C.J.S. […]
Section 6-19-2 – Definitions.
As used in the Economic Advancement District Act: A. “board of trustees” means the governing board of the economic advancement district; B. “district” means an economic advancement district which is composed of contiguous and compact areas whose boundaries coincide and are concurrent with the territorial areas of one or more school districts of the state […]
Section 6-19-3 – Legislative intent.
It is the intent of the legislature by passage of the Economic Advancement District Act to authorize economic advancement districts to acquire, own, lease or sell projects for the purpose of promoting industry and trade, other than retail trade, for the enhancement of the economy of the area encompassed by the district and for the […]
Section 6-19-4 – Creation of economic advancement districts.
A. There may be created economic advancement districts for the purposes of the Economic Advancement District Act. B. Petitions for the organization of a district shall designate the name of the proposed district and with particularity the proposed territorial area to be included within the district. The proposed district shall comprise and be concurrent with […]
Section 6-19-5 – Board of trustees; organization; terms; vacancies; removal.
A. If the required majority of votes were cast in favor of the organization of the district, then the county commission chairman shall declare the organization of the “…..economic advancement district.” The county commission shall call for an election of a board of trustees, within not less than sixty days or more than one hundred […]
Section 6-19-6 – Board of trustees; compensation; payment authority; bond.
A. Each member of the board of trustees shall receive no compensation for the performance of his duties but shall be paid per diem and mileage for attendance at meetings of the board as provided in the Per Diem and Mileage Act [10-8-1 to 10-8-8 NMSA 1978] for nonsalaried public officials. B. Each member of […]