Section 73-27-8 – Acceptance of assets and liabilities of existing water service providers; acquisition of water rights.
A. The authority may accept a transfer of assets and liabilities upon the request, and following the legal dissolution, of an entity that is listed below or formed pursuant to one of the following statutes and that provides water service, subject to any other statutory requirements for such dissolution and transfer: (1) the Water and […]
Section 73-27-9 – Revenue bonds; authority to issue; pledge of revenues; limitation on time of issuance.
A. Revenue bonds may be issued by the authority: (1) for acquiring real and personal property needed for an authority project, including the purchase of water rights; (2) for constructing, extending, enlarging, bettering, repairing, equipping or otherwise improving a water project; (3) for establishing or increasing reasonable reserve or sinking funds to secure the payment […]
Section 73-27-10 – Use of proceeds of revenue bond issue.
It is unlawful to divert, use or expend any money received from the issuance of revenue bonds for any purpose other than the purpose for which the revenue bonds were issued. History: Laws 2010, ch. 39, § 10. ANNOTATIONS Effective dates. — Laws 2010, ch. 39, § 21 made the Eastern New Mexico Water Utility […]
Section 73-27-11 – Revenue bonds; terms.
Revenue bonds: A. may have interest, appreciated principal value or any part thereof payable at intervals or at maturity as may be determined by the authority; B. may be subject to prior redemption at the authority’s option at such time or times and upon such terms and conditions with or without the payment of such […]
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 73-27-2 – 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 […]
Section 73-25-14 – Notice; opportunity for comment.
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 […]
Section 73-25-15 – Notice; coordination of information.
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 […]