Section 74-10-100 – Liberal construction.
The Solid Waste Authority Act, being necessary to secure and preserve the public health, safety and general welfare, the rule of strict consideration shall have no application to that act, but it shall be liberally construed to effect the purposes and objects for which that act is intended. History: Laws 1993, ch. 319, § 100.
Section 74-10-95 – Securities and income therefrom exempt.
Securities issued under the Solid Waste Authority Act and the income therefrom shall forever be and remain free and exempt from taxation by the state, the authority and any other public body, except transfer, inheritance and estate taxes. History: Laws 1993, ch. 319, § 95.
Section 74-10-96 – Freedom from judicial process.
Execution or other judicial process shall not issue against any property of the authority authorized in the Solid Waste Authority Act, nor shall any judgment against the authority be a charge or lien upon its property. History: Laws 1993, ch. 319, § 96.
Section 74-10-97 – Resort to judicial process.
Section 96 [74-10-96 NMSA 1978] of the Solid Waste Authority Act does not apply to or limit the right of the holder of any security, his trustee or any assignee of all or part of his interest, the federal government when it is a party to any contract with the authority, and any other obligee […]
Section 74-10-98 – Legal investments in securities.
It shall be legal for the state and any of its agencies, departments, instrumentalities, corporations or political subdivisions or any political or public corporation, any bank, trust company, banker, savings bank or institution, any building and loan association, savings and loan association, investment company and any other person carrying on a banking or investment business, […]
Section 74-10-99 – Civil rights.
The authority damaged by any such act may also bring a civil action for damages sustained by any such act, and in such proceeding the prevailing party shall also be entitled to reasonable attorneys’ fees and costs of court. History: Laws 1993, ch. 319, § 99.
Section 74-10-85 – Board’s determination final.
The determination of the board that the limitations imposed upon the issuance of refunding bonds under the Solid Waste Authority Act have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion. History: Laws 1993, ch. 319, § 85.
Section 74-10-86 – Issuance of interim debentures and pledge of bonds as collateral security.
Notwithstanding any limitation or other provision in the Solid Waste Authority Act, whenever a majority of the qualified electors of the authority voting on a proposal to issue bonds has authorized the authority to issue bonds for any purpose authorized in that act, the authority is authorized to borrow money without any other election in […]
Section 74-10-87 – Interim debentures not to be extended.
No interim debenture issued pursuant to the provisions of Section 86 [74-10-86 NMSA 1978] of the Solid Waste Authority Act shall be extended or funded except by the issuance or reissuance of a bond or bonds in compliance with Section 88 [74-10-88 NMSA 1978] of that act. History: Laws 1993, ch. 319, § 87.
Section 74-10-88 – Funding.
For the purpose of funding any interim debenture or interim debentures, any bond or bonds pledged as collateral security to secure the payment of such interim debenture or interim debentures may be reissued without an election, and any bonds not previously issued but authorized to be issued at an election for a purpose the same […]