reglab/housing_qa huggingface dataset:
NM Stat § 58-27-16.3 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-16.3 - Bonds secured by trust indenture.

The bonds may be secured by a trust indenture between the authority and a corporate trustee that may be either a bank having trust powers or a trust company. The trust indenture may contain reasonable provisions for protecting and enforcing the rights and remedies of bondholders, including covenants setting forth the duties of the authority in relation to the exercise of its powers and the custody, use and investment of the project revenues or other funds. The authority may provide in a trust indenture or otherwise for the payment of the proceeds of the bonds and the project revenue to the trustee under the trust indenture or other depository for disbursement with any safeguards the authority determines are necessary. History: Laws 1995, ch. 192, § 10.
NM Stat § 58-27-17 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-17 - Authority revenue bonds and borrowed funds not general obligations; authorization; authentication.

A. Revenue bonds or refunding revenue bonds issued as authorized in the Border Development Act and other loans to the authority are: (1) not general obligations of the state, any other agency of the state or of the authority; and (2) payable only from the proper pledged revenues. Each bond or loan shall state that it is payable solely from the proper pledged revenues and that the bondholders or lenders may not look to any other fund for the payment of the interest and principal of the bond or the loan. B. Revenue or refunding bonds or loans may be authorized by resolution of the authority, which resolution shall be approved by a majority of the voting members of the authority and by the state board of finance. C. The bonds or loans shall be executed by the chairman and secretary of the authority and may be authenticated by any public or private transfer agent or registrar, or its successor, named or otherwise designated by the authority. Bonds, notes or other certificates of indebtedness of the authority may be executed as provided under the Uniform Facsimile Signature of Public Officials Act [6-9-1 to 6-9-6 NMSA 1978], and the coupons, if any, shall bear the facsimile signature of the chairman of the authority. History: Laws 1991, ch. 131, § 17; 1993, ch. 335, § 5; 1995, ch. 192, § 13. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, in Paragraph (1) of Subsection A, inserted "general" preceding "obligations" and deleted "general obligations" preceding "of the authority"; in Paragraph (2) of Subsection A, substituted "payable" for "collectible" and deleted "and" following the first "revenues". The 1993 amendment, effective April 8, 1993, deleted "Border" preceding "Authority" and inserted "and borrowed funds" in the catchline; in Subsection A, inserted "and other loans to the authority" in the introductory language, "general obligations" in Paragraph (1), and "or loan", "or lenders", and "or the loan" in Paragraph (2); inserted "or loans" in Subsection B; and, in Subsection C, inserted "or loans" in the first sentence and substituted "Bonds, notes or other certificates of indebtedness of the authority" for "The bonds" in the second sentence.
NM Stat § 58-27-20 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-20 - Use of proceeds from sale of bonds.

The proceeds from the sale of any bonds issued under authority of the Border Development Act shall be applied only for the purpose for which the bonds were issued; provided, however, that any accrued interest and premiums received in any such sale shall be applied to the payment of the principal of or the interest on the bonds sold; and provided, further, that if for any reason any portion of such proceeds are not needed for the purpose for which the bonds were issued, then the balance of the proceeds shall be applied to the payment of the principal of or the interest on the bonds; and provided, further, that any portion of the proceeds from the sale of the bonds or any accrued interest and premium received in any such sale may, in the event the money will not be needed or cannot be effectively used to the advantage of the authority for the purposes provided herein, be invested in short-term, interest-bearing securities if such investment will not interfere with the use of the funds for the primary purpose of the project. The cost of acquiring any project shall be deemed to include the following: A. the actual cost of construction of any part of a project, including architects', attorneys' and engineers' fees; B. the purchase price of any part of a project that may be acquired by purchase; C. the actual cost of the extension of any utility to the project site and all expenses in connection with the authorization, sale and issuance of the bonds to finance such acquisition; and D. the interest on those bonds for a reasonable time prior to construction, during construction and not exceeding six months after completion of construction. History: Laws 1991, ch. 131, § 20; 1995, ch. 192, § 16. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, substituted "are not" for "shall not be" following "such proceeds" in the introductory pargraph, and deleted "that may be constructed" following "project" in Subsection A.
NM Stat § 58-27-21 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-21 - Border authority revenue bonds; refunding authorization.

A. The authority may issue refunding revenue bonds for the purpose of refinancing, paying and discharging all or any part of outstanding authority revenue bonds of any one or more or all outstanding issues: (1) for the acceleration, deceleration or other modification of payment of such obligations, including without limitation any capitalization of any interest thereon in arrears or about to become due for any period not exceeding one year from the date of the refunding bonds; (2) for the purpose of reducing interest costs or effecting other economies; (3) for the purpose of modifying or eliminating restrictive contractual limitations pertaining to the issuance of additional bonds, otherwise concerning the outstanding bonds or to any facilities relating thereto; or (4) for any combination of those purposes. B. The authority may pledge irrevocably for the payment of interest and principal on refunding bonds the appropriate pledged revenues which may be pledged to an original issue of bonds. C. Bonds for refunding and bonds for any purpose permitted by the Border Development Act may be issued separately or issued in combination in one series or more. History: Laws 1991, ch. 131, § 21.
NM Stat § 58-27-23 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-23 - Authority refunding revenue bonds; terms.

Authority refunding 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 in the resolution; B. may be subject to prior redemption at the authority's option at such time and upon such terms and conditions, with or without the payment of premiums, as may be provided by the resolution; C. may be serial in form and maturity, may consist of a single bond payable in one or more installments, may be in both forms or may be in other forms as may be determined by the authority; and D. shall be exchanged for the bonds and any mature unpaid interest being refunded at not less than par or sold at public or negotiated sale at, above or below par and at a price which results in a net effective interest rate which does not exceed the maximum permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]. History: Laws 1991, ch. 131, § 23; 1995, ch. 192, § 18. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, substituted "Authority refunding revenue bonds" for "Refunding border authority revenue bonds" in the section heading; in Subsection B, deleted "or times" following "time" and "premium or" preceding "premiums"; and in Subsection C, deleted "or" following "maturity", inserted "may be in both forms" following "installments", and deleted "such" preceding "other forms".
NM Stat § 58-27-24 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-24 - Exemption from taxation.

Bonds authorized pursuant to the Border Development Act and the income from those bonds, all mortgages or other security instruments executed as security for those bonds, all lease and installment purchase agreements made pursuant to the provisions of that act and revenue derived from any lease or sale by the authority shall be exempt from all taxation by the state or any subdivision thereof. History: Laws 1991, ch. 131, § 24; 1995, ch. 192, § 19. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, inserted "and installment purchase" preceding "agreements", substituted "of that act" for "hereof", and deleted "of New Mexico" following "state".
NM Stat § 58-27-25.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-25.1 - Border project fund; created; purpose; expenditures.

A. The "border project fund" is created in the state treasury. B. The border project fund shall consist of: (1) payments of principal and interest on loans for projects; (2) the portion of the tolls, fees, rents, lease payments or other charges imposed, collected and received by the authority and distributed to the fund pursuant to Subsection F of Section 58-27-25 NMSA 1978; (3) money from public or private sources and deposited into the fund pursuant to Paragraph (6) of Subsection B of Section 58-27-25 NMSA 1978; (4) money appropriated by the legislature or distributed or otherwise allocated to the fund; (5) the proceeds of severance tax bonds appropriated to the fund for projects; and (6) income from investment of the fund, which shall be credited to the border project fund. C. Except for severance tax bond proceeds required to revert to the severance tax bonding fund, balances in the border project fund at the end of a fiscal year shall not revert to any other fund. D. The border project fund may consist of subaccounts as determined to be necessary by the authority. E. The border project fund is appropriated to the authority for the following purposes: (1) providing financial assistance to qualified entities for projects; (2) costs incurred in the operation of a port of entry or related project pursuant to a joint powers agreement entered into with the federal government; or (3) costs incurred in the joint funding or operation of a project as part of a joint venture, partnership or other business relationship with a qualified entity or private person. F. The authority may establish procedures and adopt rules as required to: (1) administer the border project fund; (2) originate financial assistance for projects selected by the authority; and (3) govern the process through which qualified entities may apply for financial assistance from the border project fund. History: 1978 Comp., § 58-27-25.1, enacted by Laws 2011, ch. 59, § 4. ANNOTATIONSEffective dates. — Laws 2011, ch. 59, § 5 made Laws 2011, ch. 59, § 4 effective July 1, 2011. ANNOTATIONS
NM Stat § 58-27-26 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-26 - New Mexico finance authority oversight committee; oversight powers and duties.

The New Mexico finance authority oversight committee shall serve as the oversight committee to the border authority. The New Mexico finance authority oversight committee shall: A. monitor and oversee the operation of the border authority; B. meet on a regular basis to receive and review reports from the border authority on implementation of the provisions of the Border Development Act and to review and approve regulations proposed for adoption pursuant to that act; C. monitor and provide assistance and advice on the project financing program of the border authority; D. oversee and monitor state and local government capital planning and financing and take testimony from state and local officials on border and port of entry capital needs; E. provide advice and assistance to the border authority and cooperate with the executive branch of state government and local governments on planning, setting priorities for and financing of border and port of entry capital projects; F. undertake an ongoing examination of the statutes, constitutional provisions, regulations and court decisions governing border and port of entry capital financing in New Mexico; and G. report its findings and recommendations, including recommended legislation or necessary changes, to the governor and to each session of the legislature. The report and proposed legislation shall be made available on or before December 15 each year. History: Laws 1995, ch. 192, § 21. ANNOTATIONSCross references. — For New Mexico finance authority oversight committee, see 6-21-30 NMSA 1978.
NM Stat § 58-28-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 28 - Land Title Trust Funds|Section 58-28-1 - Short title.

Sections 1 through 8 [58-28-1 to 58-28-8 NMSA 1978] of this act may be cited as the "Land Title Trust Fund Act". History: Laws 1997, ch. 118, § 1. ANNOTATIONSCross references. — For the Uniform Management of Institutional Funds Act, see 46-9-1 NMSA 1978. Emergency clauses. — Laws 1997, ch. 118, § 11 makes the Land Title Trust Fund Act effective immediately. Approved April 9, 1997.
NM Stat § 58-28-2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 28 - Land Title Trust Funds|Section 58-28-2 - Definitions.

As used in the Land Title Trust Fund Act: A. "committee" means the land title trust fund advisory committee; B. "depository institution" means any bank, savings and loan association or credit union authorized by federal or state law to do business in New Mexico and insured by the federal deposit insurance corporation or the national credit union administration; C. "division" means the financial institutions division of the regulation and licensing department; D. "eligible organization" means a nonprofit corporation whose primary purpose is to provide affordable housing and that is qualified for tax exemption under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended; a unit of state or local government dealing with housing; a local or regional housing authority or a tribal agency dealing with housing; E. "fund" means the land title trust fund; F. "low-income persons" means a household consisting of a single individual, a family or unrelated individuals living together if the household's total annual income does not exceed eighty percent of the median income for the area, as determined by the United States department of housing and urban development, and as adjusted for family size or other income ceiling determined for the area on the basis of that department's findings that such variations are necessary because of prevailing levels of construction costs or fair market rents or unusually high or low family incomes; G. "pooled interest-bearing transaction account" means a trust or escrow account made available by a depository institution in the form of a negotiable order of withdrawal account, sweep account or other interest-bearing account; H. "title company" means a title insurer or title insurance agent as defined in and regulated pursuant to the New Mexico Title Insurance Law [Chapter 59A, Article 30 NMSA 1978]; and I. "trustee" means the New Mexico mortgage finance authority. History: Laws 1997, ch. 118, § 2. ANNOTATIONSCross references. — For Section 501(c)(3) of the federal Internal Revenue Code, see U.S.C. § 501(c)(3). Emergency clauses. — Laws 1997, ch. 118, § 11 makes the Land Title Trust Fund Act effective immediately. Approved April 9, 1997.
NM Stat § 58-28-3 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 28 - Land Title Trust Funds|Section 58-28-3 - Land title trust fund created.

The "land title trust fund" is created. The New Mexico mortgage finance authority shall be the trustee for the fund. The trustee shall deposit in the fund money received by it pursuant to the Low-Income Housing Trust Act [58-18B-1 to 58-18B-10 NMSA 1978]. History: Laws 1997, ch. 118, § 3; 1999, ch. 41, § 5. ANNOTATIONSThe 1999 amendment, effective July 1, 1999, added the last sentence. Appropriations. — Laws 1999, ch. 41, § 7, effective July 1, 1999, provides that on July 1, 1999, the balance in the low-income housing trust fund shall be transferred and deposited in the land title trust fund.
NM Stat § 58-28-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 28 - Land Title Trust Funds|Section 58-28-5 - Use of money; eligible activities.

A. Money from the fund and other sources may be used to finance in whole or in part any loans or grant projects that will provide housing for low-income persons and for other uses specified in this section. Money deposited into the fund may be used annually as follows: (1) no more than five percent of the fund shall be used for expenses of administering the fund; (2) no less than twenty percent of the fund shall be invested in a permanent capital fund, the interest on which may be used for purposes specified in this section; (3) no less than fifty percent of the fund shall be allocated to eligible organizations to make housing more accessible to low-income persons; (4) no more than ten percent of the fund may be allocated for use to provide scholarships for New Mexico high school graduates and high school equivalency credential recipients at New Mexico public post-secondary educational institutions under a program approved by the trustee under the administration of a nonprofit statewide land title association; and (5) the remaining balance may be allocated to eligible organizations for other housing-related programs for the benefit of the public as specifically approved by the trustee from time to time. B. Money in the capital fund authorized in Paragraph (2) of Subsection A of this section may be invested in fully amortizing interest-bearing mortgages secured by real property in New Mexico, the interest on which may be used for purposes specified in this section. History: Laws 1997, ch. 118, § 5; 2003, ch. 304, § 5; 2015, ch. 122, § 21. ANNOTATIONSThe 2015 amendment, effective July 1, 2015, replaced "general equivalency diploma" with "high school equivalency credential" relating to scholarships from the land title trust fund; and in Paragraph (4) of Subsection A, after "the fund may be", deleted "allotted" and added "allocated", after "high school graduates and", deleted "general" and added "high school", and after "equivalency", deleted "diploma" and added "credential". The 2003 amendment, effective June 20, 2003, redesignated the former undesignated paragraph as Subsection A and redesignated former Subsections A through C as present Paragraphs A(1) through A(3), inserted present Paragraph A(4), redesignated former Subsection D as present Paragraph A(5) and added present Subsection B; and substituted "five percent" for "seven percent" near the beginning of present Subsection A(1).
NM Stat § 58-28-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 28 - Land Title Trust Funds|Section 58-28-6 - Conflict with federal requirements.

If any part of the Land Title Trust Fund Act is found to be in conflict with federal requirements that are a prescribed condition to the allocation of federal funds to the state, the conflicting part of that act is inoperative solely to the extent of the conflict and with respect to the agencies directly affected, and this finding does not affect the operation of the remainder of that act in its application to the agencies concerned. The rules adopted pursuant to the provisions of the Land Title Trust Fund Act shall meet those federal requirements that are a necessary condition to the receipt of federal funds by the state. History: Laws 1997, ch. 118, § 6. ANNOTATIONSEmergency clauses. — Laws 1997, ch. 118, § 11 makes the Land Title Trust Fund Act effective immediately. Approved April 9, 1997.
NM Stat § 58-28-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 28 - Land Title Trust Funds|Section 58-28-7 - Matching funds.

Money from the fund may be used to match federal, local or private money to be used for projects authorized under the Land Title Trust Fund Act. History: Laws 1997, ch. 118, § 7. ANNOTATIONSEmergency clauses. — Laws 1997, ch. 118, § 11 makes the Land Title Trust Fund Act effective immediately. Approved April 9, 1997.
NM Stat § 58-28-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 28 - Land Title Trust Funds|Section 58-28-8 - Land title trust fund advisory committee created; functions.

A. The "land title trust fund advisory committee" is created. The committee shall consist of seven persons: (1) the chairman of the trustee or his designee, who shall serve as chairman of the committee; (2) two representatives of the land title industry appointed by the governor; (3) one representative of the banking industry and one representative of the real estate industry appointed by the president pro tempore of the senate; and (4) one representative of the mortgage lending industry and one representative of the real estate industry appointed by the speaker of the house of representatives. B. Of the first committee members appointed, two shall be appointed for terms of five years, two shall be appointed for terms of four years and two shall be appointed for terms of three years. Thereafter, appointed members shall be appointed for terms of five years. Members shall serve at the pleasure of their respective appointing authorities, and vacancies shall be filled by the appropriate appointing authority. Any member of the committee shall be eligible for reappointment. C. The committee shall be advisory to the trustee and shall be subject to oversight by the Mortgage Finance Authority Act [Chapter 58, Article 18 NMSA 1978] oversight committee. D. The committee shall review all project applications and make recommendations to the trustee for funding them. The committee shall not be involved in or advisory to the trustee in matters relating to the investment of the fund. E. The committee shall adopt and promulgate rules and regulations regarding: (1) the time, place and procedures of committee meetings; (2) the procedures for the review of and standards for recommending applications for loans or grant projects; and (3) the obligations of title companies pursuant to the provisions of the Land Title Trust Fund Act. History: Laws 1997, ch. 118, § 8. ANNOTATIONSEmergency clauses. — Laws 1997, ch. 118, § 11 makes the Land Title Trust Fund Act effective immediately. Approved April 9, 1997.
NM Stat § 58-29-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 29 - Small Business Investment|Section 58-29-1 - Short title.

Chapter 58, Article 29 NMSA 1978 may be cited as the "Small Business Investment Act". History: Laws 2000, ch. 97, § 3; 2003, ch. 399, § 4. ANNOTATIONSThe 2003 amendment, effective April 8, 2003, substituted "Chapter 58, Article 29 NMSA 1978" for "Sections 3 through 8 of this act" at the beginning of the section.