Sections 1 through 12 [6-20-1 to 6-20-11 NMSA 1978] of this act may be cited as the “Private Activity Bond Act”. History: Laws 1988, ch. 46, § 1. ANNOTATIONS Applicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, made the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable […]
The allocation expiration date may be extended by the board for each allocation; provided, however, that the allocation expiration date for any allocation shall automatically be extended for thirty days with respect to that part of the allocation used by an issuing authority for private activity bonds which have been sold but not issued on […]
The board: A. shall maintain the official state records pertaining to the state ceiling, requests for allocation submitted, requests for carryforward election allocations submitted, allocations issued, carryforward election allocations issued, confirmations submitted and any other records required for administration of the Private Activity Bond Act; B. may issue, on behalf of the governor, any certification […]
A. As used in the Private Activity Bond Act: (1) “allocation” means an allocation of the state ceiling issued by the board to an issuing authority to issue private activity bonds; (2) “allocation expiration date” means the expiration date for issuance of private activity bonds or making a mortgage credit certificate election set forth in […]
A. Until July 1 in any calendar year, forty percent of the state ceiling for the calendar year shall be allocated to state agencies as a group; provided, however, that such allocation shall be made in accordance with directives, rules or regulations governing the distribution of allocations to be established by the board. B. Until […]
A. Except as otherwise provided in the Private Activity Bond Act, all private activity bonds issued by any issuing authority and all mortgage credit certificate elections made by an issuing authority on or after the effective date of the Private Activity Bond Act shall be issued or made pursuant to an unexpired allocation. An issuing […]
A request for allocation may be submitted to the board at any time and shall consist of the following: A. a letter from the issuing authority or, in the case of a project, a letter from bond counsel for the issuing authority or the user stating the amount of the state ceiling requested in dollars; […]
After considering a request for allocation, the board may within a reasonable time, as determined by the board, issue an allocation; provided, however, that an allocation requested by an issuing authority pursuant to Subsection A or B of Section 3 [6-20-3 NMSA 1978] of the Private Activity Bond Act shall be issued by the board […]
An issuing authority may submit to the board a request for carryforward election allocation with respect to private activity bonds proposed to be issued to finance bonds for a specified carryforward purpose. The date for submission of such requests shall be established by the board annually. A separate request must be submitted for each carryforward […]
Within seven business days after an issuing authority issues any private activity bonds or makes a mortgage credit certificate election, the issuing authority or, in the case of a project, bond counsel for the issuing authority or the user, shall advise the board by letter of the date the bonds were issued and the total […]
Allocations and carryforward election allocations are not assignable by an issuing authority. History: Laws 1988, ch. 46, § 9. ANNOTATIONS Applicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, makes the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable to all private activity bonds issued after that date.
