Chapter 62, Article 16A NMSA 1978 may be cited as the “New Mexico Renewable Energy Transmission Authority Act”. History: Laws 2007, ch. 3, § 1; 2011, ch. 33, § 1. ANNOTATIONS The 2011 amendment, effective July 1, 2011, changed the statutory reference to the act to the chapter and article in the NMSA 1978.
A. The New Mexico Renewable Energy Transmission Authority Act is, without reference to any other act of the legislature, full authority for the issuance and sale of renewable energy transmission bonds, which bonds shall have all the qualities of investment securities under the Uniform Commercial Code [Chapter 55 NMSA 1978] and shall not be invalid […]
Any holder of bonds or any person or officer being a party in interest may sue to enforce and compel the performance of the provisions of the New Mexico Renewable Energy Transmission Authority Act. History: Laws 2007, ch. 3, § 11. ANNOTATIONS Effective date. — Laws 2007, ch. 3, § 19 made Laws 2007, ch. […]
All renewable energy transmission bonds are exempt from taxation by the state or any of its political subdivisions. History: Laws 2007, ch. 3, § 12. ANNOTATIONS Effective date. — Laws 2007, ch. 3, § 19 made Laws 2007, ch. 3, § 12 effective July 1, 2007.
The “renewable energy transmission authority operational fund” is created in the authority. The fund shall consist of money appropriated and transferred to the fund. Earnings from investment of the fund shall be credited to the fund. Money in the fund is appropriated to the authority for the purpose of carrying out the provisions of the […]
The authority shall submit a report of its activities to the governor and to the legislature not later than December 1 of each year. Each report shall set forth a complete operating and financial statement covering its operations for the previous fiscal year. History: Laws 2007, ch. 3, § 14. ANNOTATIONS Effective date. — Laws […]
A. In addition to its other duties, the New Mexico finance authority oversight committee [6-21-30 NMSA 1978] shall: (1) monitor and oversee the operation of the authority; (2) meet on a regular basis to receive and review reports from the authority on implementation of the provisions of the New Mexico Renewable Energy Transmission Authority Act […]
Information obtained by the authority that is proprietary technical or business information shall be confidential and not subject to inspection pursuant to the Inspection of Public Records Act [Chapter 14, Article 3 NMSA 1978]. Proprietary confidential information includes power purchase agreements, costs of production, costs of transmission, transmission service agreements, credit reviews, detailed power models […]
As used in the New Mexico Renewable Energy Transmission Authority Act: A. “acquire” means to obtain eligible facilities by lease, construction, reconstruction or purchase; B. “authority” means the New Mexico renewable energy transmission authority; C. “bonds” means renewable energy transmission bonds and includes notes, warrants, bonds, temporary bonds and anticipation notes issued by the authority; […]
A. The “New Mexico renewable energy transmission authority” is created as a public body, politic and corporate, separate and apart from the state, constituting a governmental instrumentality for the performance of essential public functions. B. The authority shall be composed of six members as follows: (1) three members appointed by the governor with the advice […]
A. The authority shall: (1) do any and all things necessary or proper to accomplish the purposes of the New Mexico Renewable Energy Transmission Authority Act; (2) hire an executive director and such other employees or other agents as it deems necessary for the performance of its powers and duties, including consultants, financial advisors and […]
A. The authority is authorized to issue and sell revenue bonds, known as “renewable energy transmission bonds”, payable solely from the renewable energy transmission bonding fund, in compliance with the New Mexico Renewable Energy Transmission Authority Act, for the purpose of entering into a project when the authority determines that the project is needed. B. […]
A. The “renewable energy transmission bonding fund” is created in the authority. The fund shall consist of revenues received by the authority from operating or leasing eligible facilities, fees and service charges collected and, if the authority has provided financing for eligible facilities, money from payments of principal and interest on loans. The authority may […]
The authority may issue and sell at public or private sale bonds to refund outstanding renewable energy transmission bonds by exchange, immediate or prospective redemption, cancellation or escrow, including the escrow of debt service funds accumulated for payment of outstanding bonds, or any combination thereof, when, in its opinion, such action will be beneficial to […]
A. The authority, except as otherwise specifically provided in the New Mexico Renewable Energy Transmission Authority Act, shall determine at its discretion the terms, covenants and conditions of the bonds, including, but not limited to, date of issue, denominations, maturities, rate or rates of interest, call features, call premiums, registration, refundability and other covenants covering […]
A. Bonds shall be sold by the authority at such times and in such manner as the authority may elect, either at private sale for a negotiated price or to the highest bidder at public sale for cash at par, above par or below par and accrued interest. B. In connection with any public sale […]
