Chapter 73, Article 25 NMSA 1978 may be cited as the “Regional Transit District Act”. History: Laws 2003, ch. 65, § 1; 2009, ch. 57, § 1. ANNOTATIONS The 2009 amendment, effective June 19, 2009, added the Chapter and Article reference to the Regional Transit District Act.
A board may invest or deposit funds in accordance with the prudent investor rule set forth in the Uniform Prudent Investor Act [45-7-601 to 45-7-612 NMSA 1978]. The board may employ investment management services to invest the funds and may pay reasonable compensation for investment management services from the assets of the applicable funds. The […]
The income or other revenues of a district, all properties at any time owned by a district, all bonds issued by a district and the income from the bonds issued by a district are exempt from taxation in the state. History: Laws 2003, ch. 65, § 11. ANNOTATIONS Effective dates. — Laws 2003, ch. 65, […]
A district may cooperate with a person to: A. accept legitimate contributions or liens securing obligations of the district from the person with respect to the financing, construction, operation or maintenance of a regional transit system and, in connection with a loan or advance, enter into contracts establishing the repayment terms; B. enter into contracts […]
A governmental unit, for the purpose of aiding the financing, construction, operation or maintenance of a regional transit system, may: A. sell, lease, loan, donate, grant, convey, assign, transfer and otherwise dispose to the district real or personal property or interests therein; B. enter into agreements with a person for the joint financing, construction, operation […]
A. At least forty-five days prior to a meeting at which the board shall consider or take action on a proposal to request, establish, increase or decrease a rate, toll, fee or charge, the board shall deliver written notice of the meeting and proposal to a governmental unit where the proposed rate, toll, fee or […]
A. At least forty-five days prior to the imposition of or an increase in a rate, toll, fee or charge or prior to the issuance of bonds as authorized in the Regional Transit District Act, a notice specifying the amount of the fee, toll, rate or charge and its proposed duration or the value and […]
A district has no direct taxation authority. History: Laws 2003, ch. 65, § 16. ANNOTATIONS Effective dates. — Laws 2003, ch. 65, contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 20, 2003, 90 days after adjournment of the legislature.
A. After the creation of a district, a governmental unit adjacent to but not part of that district may join the district and determine the territorial area to become a part of that district. A two-thirds affirmative vote by the board shall be required before the governmental unit may join the district. B. A governmental […]
The local government members of a combination shall match at least one dollar ($1.00) for every four dollars ($4.00) provided by the state. Before a district is able to receive state matching funds, it must be certified by the commission pursuant to Section 4 [73-25-4 NMSA 1978] of the Regional Transit District Act. History: Laws […]
A. A district that operates a commuter rail service may employ commuter rail service law enforcement officers for the district and assign duties to the officers. B. At all times while on duty, commuter rail service law enforcement officers shall carry commissions of office issued by the district. Commuter rail service law enforcement officers shall […]
The purpose of the Regional Transit District Act is to: A. serve the public by providing for the creation of regional networks of safe and efficient public transit services; B. allow multijurisdictional public transit systems to reduce the congestion of single-occupant motor vehicle traffic by providing transportation options for residents; C. decrease automobile accidents by […]
As used in the Regional Transit District Act: A. “board” means the board of directors of a district; B. “bond” means a revenue bond; C. “combination” means two or more governmental units that exercise joint authority; D. “commission” means the state transportation commission; E. “construct” or “construction” means the planning, designing, engineering, acquisition, installation, construction […]
A. A combination may create a district by contract. Upon the issuance by the commission of a certificate stating that the district has been duly organized according to the provisions of the Regional Transit District Act, the district may exercise the functions conferred by the provisions of that act. The commission shall issue the certificate […]
A. All powers, privileges and duties vested in or imposed upon the district shall be exercised and performed by the board. The board may delegate its powers by resolution to an officer or agent of the board, with the exception of the following: (1) adoption of board policies and procedures; (2) ratification of acquisition of […]
A. A district is a body politic and corporate. In addition to other powers granted to the district pursuant to the Regional Transit District Act, the district may: (1) have perpetual existence, except as otherwise provided in the contract; (2) sue and be sued; (3) enter into contracts and agreements affecting the affairs of the […]
A. A district may promulgate rules regarding collection of fees, tolls, rates or charges. State and local law enforcement authorities may enter into traffic and toll enforcement agreements with a district. B. A person who fails to pay a fee, toll, rate or charge required for the privilege of traveling on or using property included […]
A. A district may issue bonds solely for the purpose of financing the purchase, construction, renovation, equipping or furnishing of a regional transit system project. The district shall issue the bonds pursuant to resolution of the board, and the bonds shall be payable solely out of all or a specified portion of the revenues as […]
The state pledges and agrees with the holders of bonds issued under the Regional Transit District Act and with those parties who enter into contracts with a district or a member of a combination pursuant to the Regional Transit District Act that the state will not impair the rights vested in the district or the […]
