Section 73-27-12 – Exemption from taxation.
The bonds authorized by the Eastern New Mexico Water Utility Authority Act and the income from the bonds shall be exempt from all taxation by the state or any political subdivision of the state. History: Laws 2010, ch. 39, § 12. ANNOTATIONS Effective dates. — Laws 2010, ch. 39, § 21 made the Eastern New […]
Section 73-27-13 – Resolution authorizing revenue bonds.
At a regular or special meeting called for the purpose of issuing revenue bonds, the board may, by an affirmative vote of a supermajority of five members of the board, adopt a resolution that authorizes the issuance of revenue bonds. History: Laws 2010, ch. 39, § 13. ANNOTATIONS Effective dates. — Laws 2010, ch. 39, […]
Section 73-27-4 – Eastern New Mexico water utility authority; created.
A. The “eastern New Mexico water utility authority” is created coextensive with the boundaries of Curry and Roosevelt counties and the territory physically occupied by the water facilities of the authority to plan, design, develop, purchase, acquire, own, operate, establish, construct and maintain the eastern New Mexico rural water system pipelines and wa terworks to […]
Section 73-27-5 – Board; appointment; terms.
A. The board shall consist of six members, each of whom shall reside within the boundaries of the authority, appointed as follows: (1) three board members appointed by the Clovis city commission for a term of two years; provided, however, that two of the initial members shall be appointed for a term of one year […]
Section 73-27-6 – Board; powers; duties.
A. All powers, privileges and duties vested in or imposed upon the authority shall be exercised and performed by the board; provided that the board may delegate its powers by resolution to an officer or agent of the board, with the exception of the following powers: (1) adoption of board rules, policies and procedures; (2) […]
Section 73-27-7 – Authority; powers.
The authority is a body politic and corporate and a political subdivision of the state. The authority may: A. sue and be sued; B. enter into contracts; C. borrow money and issue revenue bonds; D. acquire, dispose of or encumber real and personal property and any interest in them, including leases, easements and water rights […]
Section 73-27-1 – Short title.
This act [73-27-1 to 73-27-19 NMSA 1978] may be cited as the “Eastern New Mexico Water Utility Authority Act”. History: Laws 2010, ch. 39, § 1. ANNOTATIONS Effective dates. — Laws 2010, ch. 39, § 21 made the Eastern New Mexico Water Utility Authority Act effective July 1, 2010.
Section 73-27-2 – Findings and purpose.
A. The legislature finds that: (1) consistent with the goals of the statewide water plan, water systems should be planned for and constructed on a regional basis, in that regional water systems are able to take advantage of economies of scale; (2) the costs of designing, purchasing, constructing, rehabilitating, renovating, improving, equipping, furnishing, operating and […]
Section 73-27-3 – Definitions.
As used in the Eastern New Mexico Water Utility Authority Act: A. “authority” means the eastern New Mexico water utility authority; and B. “board” means the board of directors of the authority. History: Laws 2010, ch. 39, § 3. ANNOTATIONS Effective dates. — Laws 2010, ch. 39, § 21 made the Eastern New Mexico Water […]