Section 67-3-76 – Transportation bonds; exemption from taxation.
The construction, operation and maintenance of a transportation project by the state transportation commission shall constitute the performance of an essential governmental function. As such, the income from the transportation bonds issued pursuant to Chapter 67, Article 3 NMSA 1978 shall at all times be free from taxation by the state and by its political […]
Section 67-3-77 – Definition.
As used in Chapter 67, Article 3 NMSA 1978, “transportation system” means facilities used for the transportation of natural resources, manufactured products or passengers and includes communication and transportation structures and other facilities necessary for the operation of the transportation facilities. History: Laws 1997, ch. 52, § 7. ANNOTATIONS Effective dates. — Laws 1997, ch. […]
Section 67-3-78 – Transportation project fund created; planning and prioritization of funding transportation projects for counties, municipalities and Indian nations, tribes and pueblos.
A. The “transportation project fund” is created in the state treasury. The fund consists of appropriations, donations, interest from investment of the fund and other money distributed to the fund. The department shall administer the fund and may establish subaccounts for the fund as it deems necessary. Money in the fund is appropriated to the […]
Appendix – Appendix to Article 3
State Highway Bonds The following laws have authorized the issuance of bonds or debentures in the specified amounts for the state road fund or construction or improvement of state highways. Laws 1937, ch. 8 (as amended by Laws 1937, ch. 128): $10,000,000, state highway debentures for state road fund. Laws 1939, ch. 93: $6,000,000, state […]
Section 67-3-75 – Transportation bonds eligible for investment.
Transportation bonds issued by the state transportation commission are securities in which public officers and public bodies of this state and its political subdivisions and insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. The […]
Section 67-3-66 – Motor vehicle department [division] fees imposed by regulation; revenue disposition.
All revenues from all fees imposed by the motor vehicle department [motor vehicle division of the taxation and revenue department] solely by regulation, without statutory authority, shall be paid to the state treasurer for credit to the state road fund. History: 1953 Comp., § 55-2-54.1, enacted by Laws 1975, ch. 339, § 9. ANNOTATIONS Bracketed […]
Section 67-3-67 – Name.
This act [67-3-67 to 67-3-70 NMSA 1978] may be cited as the “Public Mass Transportation Act.” History: 1953 Comp., § 55-2-55, enacted by Laws 1975, ch. 343, § 1. ANNOTATIONS Cross references. — For Municipal Transit Law, see Chapter 3, Article 52 NMSA 1978.
Section 67-3-68 – Purpose and interpretation.
It is the intent of the legislature to assign to the state highway and transportation department all functions and powers necessary to develop a coordinated program with the United States government, and others, in the field of public mass transportation. In order to accomplish this purpose and obtain all possible funds available to implement this […]
Section 67-3-69 – Power to state highway and transportation department.
In addition to the power and authority elsewhere granted to the state highway and transportation department to enter into cooperative agreements, the department is authorized to enter into agreements with any bureau, department or agency of the United States government dealing with or concerning the planning, design, construction, maintenance or supervision of any public mass […]
Section 67-3-70 – Use of appropriated funds.
The department may expend such portion of its appropriated funds as it deems necessary to effectuate the purposes of the Public Mass Transportation Act [67-3-67 to 67-3-70 NMSA 1978]. History: 1953 Comp., § 55-2-58, enacted by Laws 1975, ch. 343, § 4; 1977, ch. 250, § 37; 1987, ch. 268, § 39; 2003, ch. 68, […]