Chapter 7, Article 24A NMSA 1978 may be cited as the “County and Municipal Gasoline Tax Act”. History: 1978 Comp., § 7-24A-1, enacted by Laws 1978, ch. 182, § 1; 1990, ch. 88, § 2. ANNOTATIONS The 1990 amendment, effective May 16, 1990, substituted “Chapter 7, Article 24A NMSA 1978” for “Sections 1 through 21 […]
A. The majority of the members of the governing body of a municipality may adopt an ordinance imposing a tax of up to two cents ($.02) a gallon on all gasoline sold at retail within the boundaries of the municipality and upon which gasoline taxes are imposed in accordance with the Gasoline Tax Act [Chapter […]
A. The ordinance imposing a municipal gasoline tax shall not go into effect until after an election is held and a simple majority of the qualified electors of the municipality voting on the question votes in favor of imposing the municipal gasoline tax. The governing body of the municipality shall provide for an election on […]
The municipality shall collect the municipal gasoline tax imposed by the County and Municipal Gasoline Tax Act. Every person subject to the imposition of the municipal gasoline tax shall file a return on forms provided by and with the information required by the municipality and shall pay the tax due on or before the twenty-fifth […]
ANNOTATIONS Repeals. — Laws 1990, ch. 88, § 21 repealed 7-24A-13 NMSA 1978, as enacted by Laws 1978, ch. 182, § 13, relating to imposition of federal regulations, effective May 16, 1990. For provisions of former section, see the 1989 NMSA 1978 on NMOneSource.com.
A. The governing body may adopt an ordinance providing for issuance of bonds to enable the county or municipality to acquire land, buildings, buses or other equipment required for public transit, a vehicle emission inspection program or for road, street or highway construction, repair or maintenance or for refunding bonds previously issued for such purpose […]
A. The ordinance authorizing issuance of bonds shall specify: (1) issuance in any number of series; (2) maturity dates; (3) interest payable on the bonds; (4) denominations; (5) form, either coupon or registered; (6) conversion or registration privileges; (7) rank or priority; (8) manner of execution; (9) if desirable, features of redemption, prior to maturity […]
A. Bonds may be sold at either public or private sale; provided that no such bonds may be sold at any price which does not result in an actual net interest cost to maturity, computed on the basis of standard tables of bond values, in excess of the maximum net effective interest rate permitted by […]
The County and Municipal Gasoline Tax Act is full authority for authorization and issuance of bonds. If [In] any proceeding involving the validity and enforceability of any bond or its security, any bond reciting in substance that it was issued by the county or municipality to aid in financing public transit or transportation projects or […]
To further the marketability of bonds, the ordinance authorizing their issue may: A. secure their payment by deed of trust or mortgage conveying county or municipally owned land and improvements acquired for the public transit facility operation or use from the proceeds of the bonds to a trustee for the benefit and security of the […]
If the interest or any serial maturity of any bond is in default, any obligee may foreclose against the county or municipality under the same procedure provided for foreclosure of real estate mortgages. The district court may appoint a receiver to operate the transit facilities or operation in default. History: 1978 Comp., § 7-24A-19, enacted […]
As used in the County and Municipal Gasoline Tax Act: A. “county” means a class A county or an H class county; B. “governing body” means the city council or city commission of a city, the board of trustees of a town or village or the board of county commissioners of a class A county […]
Bonds are legal investments for savings banks and insurance companies under the laws of this state. They are bonds, notes or other obligations of a county or municipality of this state, issued pursuant to a law of this state, for the purposes of investment or purchase by the state investment officer. History: 1978 Comp., § […]
A. If an election is held by one or more municipalities within a county or a municipality and the county concerning adoption of the county and municipal gasoline taxes, such election may be held jointly by such county and municipality, or municipalities, and may be held at any election except a primary election. B. The […]
A. The proceeds of a county or municipal gasoline tax shall be used for bridge and road projects or public transportation related trails and for expenses of purchasing, maintaining and operating transit operations and facilities, for the operation of a transit authority established by the Municipal Transit Law [3-52-1 to 3-52-13 NMSA 1978] or as […]
A. All contracts for work, material or labor in connection with such transportation shall be let in the manner provided by law for the letting of other contracts by the county or municipality. B. Transit service may not be extended to points outside the county in which a city is located or outside the boundaries […]
A. The majority of the members of the governing body of a county may adopt an ordinance imposing a tax of up to two cents ($.02) a gallon on all gasoline sold at retail within the boundaries of the county on all property not lying within the boundaries of a municipality and upon which gasoline […]
A. The ordinance imposing a county gasoline tax shall not go into effect until after an election is held and a simple majority of the qualified electors of the county residing outside the boundaries of a municipality vote in favor of imposing the county gasoline tax. The governing body of the county shall provide for […]
A. A county-wide gasoline tax may be imposed on each gallon of gasoline sold at retail within the county in increments of one cent ($.01) per gallon up to a maximum of two cents ($.02) per gallon for the purpose of funding a vehicle emissions inspection program and other programs as specified in Subsection D […]
Any ordinance imposing a county, county-wide or municipal gasoline tax shall contain or adopt by reference the same definitions and the same provisions relating to deductions, refunds and credits as are contained in the Gasoline Tax Act [Chapter 7, Article 13 NMSA 1978]. History: 1978 Comp., § 7-24A-7, enacted by Laws 1978, ch. 182, § […]
