This act [5-18-1 to 5-18-13 NMSA 1978] may be cited as the “Renewable Energy Financing District Act”. History: Laws 2009, ch. 180, § 1. ANNOTATIONS Effective dates. — Laws 2009, ch. 180 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 19, 2009, 90 days after the […]
A. An election pursuant to the Renewable Energy Financing District Act for the purpose of election of directors of a district board shall be called by mailing notices to the owners of property included in the district not less than twenty days before the election. The property tax assessment rolls shall be used to determine […]
A. The district board shall: (1) establish guidelines and standards for renewable energy improvements to be made to property included in the district; (2) establish guidelines and procedures for a property owner to enter into an agreement with the district board to include property in the district; (3) establish guidelines for the documentation required from […]
A. At any time after adoption of a resolution creating a district, property may be added to the district at the request of the owner of the property, upon adoption of a resolution of the district board. B. Property may be deleted from the district only upon request of the property owner and adoption of […]
The district may be dissolved by the district board by a resolution of the district board upon a determination that the district has no outstanding bond obligations. The district shall not be dissolved if any bonds of the district remain outstanding unless an amount of money sufficient, together with investment income thereon, to make all […]
The legislature finds that: A. the development of renewable energy sources will advance the security, economic well-being and public and environmental health of the state, as well as contributing to the energy independence of the nation and addressing the issue of global climate change; B. it is in the best interests of the state, municipalities […]
As used in the Renewable Energy Financing District Act: A. “county” means any county, including an H class county; B. “debt service” means the principal of, interest on and premium, if any, on the bonds, when due, whether at maturity or prior redemption and fees and costs of agents necessary to handle the bonds and […]
A. A governing body of a municipality or county may form a district for the purpose of encouraging, accommodating and financing renewable energy improvements on property within the municipality or county. A district shall include only property for which an owner executes an agreement consenting to the inclusion of the property within the district and […]
A. A governing body may adopt a resolution declaring its intention to form a district. The resolution shall state the following: (1) the purposes for which the district is to be formed; (2) that the district shall include only property for which the owner has agreed to the inclusion of the property within the district, […]
A. At the hearing on formation of a district, the governing body shall accept and pass on written and oral testimony and evidence presented in support of or in opposition to the formation of the district. After hearing the written and oral testimony, the governing body shall determine whether the district should be formed based […]
A. The district board may impose a special assessment on property within the district to facilitate the financing of renewable energy improvements to the property. The special assessment shall be sufficient in the case of each property to pay the costs of the financing of the renewable energy improvements, including the costs of bond issuance, […]
A. A district may issue one or more series of bonds to provide money for renewable energy improvements to property in the district, and the bonds may be payable from the special assessments levied pursuant to one or more assessment resolutions. B. For any bonds issued pursuant to the Renewable Energy Financing District Act, the […]
A. The governing body, at its option, may authorize the appointment of a separate district board. In the case of an appointed district board, the directors shall serve an initial term of six years. If a vacancy occurs on the district board because of death, resignation or inability of a director to discharge the duties […]
