reglab/housing_qa huggingface dataset:
NM Stat § 4-55A-35 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55A - County Improvement Districts|Section 4-55A-35 - Improvement district; refunding improvement bonds; authority.

A. As used in this section and in Sections 4-55A-36 through 4-55A-38 NMSA 1978 "bonds", when not modified by the word "refunding", includes assignable certificates. B. The board may issue refunding improvement district bonds to refund all or any part of improvement district bonds. Refunding bonds may be issued: (1) to change the payment schedule for the bonds; (2) to fund principal and interest due on bonds that are in default or for which there is not and, in the opinion of the governing body, will not be sufficient money available to pay the principal and interest when due; (3) to reduce interest costs on the bonds or on the assessments providing security for the bonds or to provide other savings; (4) to modify or eliminate restrictive or burdensome contractural [contractual] limitations concerning the bonds; (5) to provide enhanced or substitute security for the bonds; or (6) to provide for any other reasonable and necessary purpose or any combination of the foregoing purposes. History: Laws 1980, ch. 91, § 35; 1991, ch. 199, § 54. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. The 1991 amendment, effective April 4, 1991, rewrote this section which read "Whenever there is not, and it is certain there will not be, sufficient money in an improvement district fund to pay the principal and interest due on the improvement district bonds, the board may issue refunding improvement district bonds. If there is not sufficient money in an improvement district fund to pay in full the improvement district bonds that have matured, the board shall issue refunding improvement district bonds to pay the interest and principal on the improvement district bonds".
NM Stat § 4-55A-37 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55A - County Improvement Districts|Section 4-55A-37 - Improvement district; ordinance for refunding bonds; conditions; sale or exchange.

A. The ordinance authorizing the issuance of refunding bonds for an improvement district shall describe the: (1) details of the issue; (2) form of the refunding bonds and interest coupons, if any; (3) fund from which the principal and interest of the refunding bonds will be paid; and (4) manner in which the bonds are to be issued. B. The refunding bonds may: (1) be issued in an amount less than, equal to or greater than the principal amount of improvement district bonds being refunded; (2) not bear a rate of interest greater than the rate of interest borne by the assessments providing security for the refunding bonds if secured by assessments; (3) become due and payable in regular numerical order; (4) not be issued for a period of more than twenty years from the date of issuance; and (5) be payable from substitute security or from the same funds that were applicable to the payment of the bonds being refunded. C. The refunding bonds may be: (1) sold at a public or private sale at a discount; or (2) exchanged, dollar for dollar, for the improvement district bonds being refunded. History: Laws 1980, ch. 91, § 37; 1983, ch. 265, § 21; 1991, ch. 199, § 56. ANNOTATIONSThe 1991 amendment, effective April 4, 1991, in Subsection B, substituted "may" for "shall" in the introductory phrase, rewrote Paragraph (1) which read "not be issued in an amount greater than the principal and accrued interest due on the improvement district bonds being refunded", substituted "assessments providing security for the refunding bonds if secured by assessments" for "bonds being refunded" at the end of Paragraph (2) and inserted "substitute security or from" in Paragraph (5) and, in Subsection C substituted "a public or private sale at a discount" for "not less than par" in Paragraph (1) and deleted a former sentence at the end of Paragraph (2) which read "If the refunding bonds are exchanged for the bonds being refunded, the lower numbered refunding bonds shall be exchanged for the lower numbered bonds being refunded so that the bondholder shall have relatively the same position in the refunding issue as he had in the outstanding bonds prior to the refunding".
NM Stat § 4-55A-38 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55A - County Improvement Districts|Section 4-55A-38 - Improvement district; payment of assessment for refunding bond; maximum term; interest; prepayment; liens.

A. In connection with issuance of refunding bonds as provided in Sections 4-55A-35 through 4-55A-38 NMSA 1978, the board may by ordinance provide that any unpaid assessment and accrued interest on the assessment shall be paid in not more than twenty years with interest at a rate of interest not less than the rate borne by the refunding bonds and with the penalties as lawfully attached to the original assessment. The owner of a tract or parcel of land that is assessed may at any time pay the assessment in full with interest to the time of payment. B. The assessment may be collected as provided in Section 4-55A-19 NMSA 1978, and the refunding bonds may be secured and enforced as the original lien was established as provided in that section. History: Laws 1980, ch. 91, § 38; 1991, ch. 199, § 57. ANNOTATIONSThe 1991 amendment, effective April 4, 1991, in Subsection A, substituted "Sections 4-55A-35 through 4-55A-38 NMSA 1978" for "Sections 35 through 38 of the County Improvement District Act", "may by ordinance" for "shall by ordinance", "twenty years with interest at a rate of interest not less than the rate borne" for "twenty equal annual or forty semiannual installments with interest at the rate of interest borne" and made a minor stylistic change and, in Subsection B, substituted "may" for "shall" in two places and "Section 4-55A-19 NMSA 1978" for "Section 19 of the County Improvement District Act".
NM Stat § 4-55A-39 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55A - County Improvement Districts|Section 4-55A-39 - Improvement district; construction of sections.

Nothing contained in Sections 4-55A-35 through 4-55A-38 NMSA 1978 shall be construed as: A. increasing the burden or liability of any tract or parcel of land or the owner of any tract or parcel of land; or B. except for issuance of the refunding bonds, creating any additional liability of the county. History: Laws 1980, ch. 91, § 39; 1991, ch. 199, § 58. ANNOTATIONSThe 1991 amendment, effective April 4, 1991, added "construction of sections" in the catchline; substituted "Sections 4-55A-35 through 4-55A-38 NMSA 1978" for "Sections 35 through 38 of the County Improvement District Act" in the introductory paragraph; redesignated former Paragraphs (1) and (2) of former Subsection A as Subsections A and B; added "except for the issuance of the refunding bonds" at the beginning of Subsection B; and deleted former Subsection B which read "The issuance of the refunding bonds shall not give any bondholder any greater right than he had prior to the refunding. The owners and holders of refunding bonds shall be subrogated to all the rights and remedies possessed by the owners and holders of the bonds refunded".
NM Stat § 4-55A-40 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55A - County Improvement Districts|Section 4-55A-40 - Street and road improvement fund authorization.

In the case of creation of a county improvement district in accordance with the provisions of the County Improvement District Act, the board of county commissioners of any county may, by ordinance, establish a street and road improvement fund into which may be transferred all or any part of the distributions of such amounts of the tax revenues distributed to the county under the provisions of Section 7-1-6.9 NMSA 1978 as the board has, in any ordinance, determined necessary for use as a fund in the financing of improvement projects described in Subsection A of Section 4-55A-4 NMSA 1978. History: 1978 Comp., § 4-55A-40, enacted by Laws 1991, ch. 199, § 59.
NM Stat § 4-55A-41 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55A - County Improvement Districts|Section 4-55A-41 - Street and road improvement fund; use.

Bonds or assignable certificates authorized in Section 4-55A-20 NMSA 1978 for the construction of a street, road, walkway, bridge, overpass, underpass, pathway, alley, curb, gutter or sidewalk project may be purchased by the street and road improvement fund; provided that the bonds or assignable certificates shall be held in trust by the county treasurer and any receipts from the sale of the bonds or assignable certificates or from the payment of the assessment made to pay the interest and principal of the bonds or assignable certificates shall be held in trust by the county treasurer, and any receipts from the sale of the bonds or assignable certificates or from the payment of the assessment made to pay the interest and principal of the bonds or assignable certificates shall be credited to the street and road improvement fund. History: 1978 Comp., § 4-55A-41, enacted by Laws 1991, ch. 199, § 60.
NM Stat § 4-55A-42 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55A - County Improvement Districts|Section 4-55A-42 - Street and road improvement fund; repurchasing bonds or certificates; pledging income.

A. The board of county commissioners may, by ordinance approved by three-fourths of all the members of the board of county commissioners and irrepealable during the term of the contract and for a period not exceeding twenty-one years, contract: (1) to repurchase bonds or assignable certificates authorized in Section 4-55A-20 NMSA 1978 for construction of a street, road, bridge, walkway, overpass, underpass, pathway, alley, curb, gutter or sidewalk project with the money in the street and road improvement fund; or (2) to pledge the income of the street and road improvement fund to pay the interest and principal of bonds or assignable certificates when default in payment may occur by reason of nonpayment of any assessment levied for the payment of a street, road, bridge, walkway, overpass, underpass, pathway, alley, curb, gutter or sidewalk project authorized in the County Improvement District Act. B. The county may anticipate the annual income to be received by the street and road improvement fund. The amount contracted or pledged to be expended each year as authorized in this section shall not exceed the amount that is accumulated in the street and road improvement fund. C. The ordinance authorized in this section shall state that: (1) all disbursements made pursuant to the contract shall be paid solely from the street and road improvement fund and from no other source; (2) the obligations created by the contract are not general obligations of the county; and (3) the contracting parties may not look to any other fund for the performance of the contractual obligation. D. In the event of disbursement from the street and road improvement fund pursuant to the obligations created by the contract, the county shall be subrogated for the benefit of the street and road improvement fund to all the rights and remedies of the holders of the securities upon which payment is made. History: 1978 Comp., § 4-55A-42, enacted by Laws 1991, ch. 199, § 61.
NM Stat § 4-55A-43 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55A - County Improvement Districts|Section 4-55A-43 - Street and road improvement fund; diverting proceeds from tax.

After the adoption of the ordinance creating a contract as authorized in Section 4-55A-3 NMSA 1978 and so long as the contract is effective, it is unlawful: A. to directly or indirectly divert any such amounts of tax revenue directed to be credited to the street and road improvement fund; and B. without the written approval of the secretary of finance and administration, for the board or any county employee to expend any money from the street and road improvement fund for any purpose other than the performance of the contract. History: 1978 Comp., § 4-55A-43, enacted by Laws 1991, ch. 199, § 62.
NM Stat § 4-55B-1 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55B - Historic Building Improvement Act|Section 4-55B-1 - Short title.

This act [4-55B-1 to 4-55B-5 NMSA 1978] may be cited as the "Historic Building Improvements Act". History: Laws 1993, ch. 52, § 1.
NM Stat § 4-55B-2 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55B - Historic Building Improvement Act|Section 4-55B-2 - Definitions.

As used in the Historic Building Improvements Act: A. "county" means an H class county; B. "governing body" means the board of county commissioners of a county; C. "historic building improvements" means any repair or maintenance to the exterior or any renovation or other improvement necessary to meet life safety codes of a publicly owned building entered in the state register of cultural properties or the national register of historic places; and D. "taxable value of property" means the "net taxable value", as that term is defined in the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978], of property subject to taxation under the Property Tax Code. History: Laws 1993, ch. 52, § 2.
NM Stat § 4-55B-3 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55B - Historic Building Improvement Act|Section 4-55B-3 - Authorization for a county to impose an historic building improvements tax; resolution; election required.

A. The governing body of a county may adopt a resolution authorizing the imposition of a property tax upon the taxable value of property in the county for the purpose of making historic building improvements. The total tax imposition that may be authorized under the Historical [Historic] Building Improvements Act shall not exceed a rate of one dollar ($1.00) on each one thousand dollars ($1,000) of taxable value of property in the county and shall be imposed for a period not to exceed four years. B. The tax authorized pursuant to Subsection A of this section shall not be imposed unless the question of authorizing the imposition of the tax is submitted to the voters of the county. C. The resolution adopted pursuant to Subsection A of this section shall specify: (1) the rate of the proposed tax; (2) the date an election will be held to submit the question of imposition of the tax to the voters of the county; (3) the period of time the tax is authorized to be imposed; and (4) the proposed use of the revenues from the proposed tax. History: Laws 1993, ch. 52, § 3. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not a part of the law.
NM Stat § 4-55B-4 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55B - Historic Building Improvement Act|Section 4-55B-4 - Conduct of election; ballot.

A. The question of authorizing the imposition of a tax under the Historic Building Improvements Act shall be submitted to voters of the county at any general election or special election called for that purpose following the adoption of a resolution pursuant to the Historic Building Improvements Act. B. The proclamation calling the election shall be filed and published as required pursuant to the provisions of the Election Code [Chapter 1 NMSA 1978] and shall specify: (1) the date on which the election will be held; (2) the question that will be put to the voters; (3) the precincts in the county, the location of each polling place and the hours the polling places will be open; and (4) the date and time of the closing of the registration books by the county clerk as required by law. C. The question on the ballot shall read: "______ For the imposition of an historic building improvements tax at a rate of _______ dollars on each one thousand dollars ($1,000) of taxable value of property in the county for a period of __________________ years; or ______ Against the imposition of an historic building improvements tax at a rate of ________________ dollars on each one thousand dollars ($1,000) of taxable value of property in the county for a period of _____________ years". D. The election shall be conducted and canvassed pursuant to the provisions of the Election Code. History: Laws 1993, ch. 52, § 4.
NM Stat § 4-55B-5 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55B - Historic Building Improvement Act|Section 4-55B-5 - Imposition of tax; certification by department of finance and administration; discontinuance of tax.

A. If a majority of the voters voting on the question votes for the historic building improvements tax pursuant to a resolution adopted under the Historic Building Improvements Act, the tax shall be imposed for the earliest property tax year for which the tax rate may be certified. The governing body of the county shall notify the department of finance and administration of the results of the election immediately upon completion of the canvass. The tax rate shall be certified by the department of finance and administration and imposed, administered and collected in accordance with the provisions of the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978]. B. If a majority of the voters voting on the question votes against the historic building improvements tax, the tax shall not be imposed. The county shall not adopt another resolution authorizing the imposition of a tax under the Historic Building Improvements Act for at least one year after the date of the resolution that the voters rejected. C. The governing body of the county may adopt a resolution discontinuing the imposition of the tax authorized and imposed pursuant to the Historic Building Improvements Act. The discontinuance resolution shall be mailed to the department of finance and administration no later than June 15 of the year in which a tax rate pursuant to that act is not to be certified. History: Laws 1993, ch. 52, § 5.
NM Stat § 4-55C-1 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55C - Solar Energy Improvement Special Assessment|Section 4-55C-1 - Short title.

Chapter 4, Article 55C NMSA 1978 may be cited as the "Solar Energy Improvement Special Assessment Act". History: Laws 2009, ch. 270, § 1; 2019, ch. 110, § 2. ANNOTATIONSThe 2019 amendment, effective June 14, 2019, changed "This act" to "Chapter 4, Article 55C NMSA 1978".
NM Stat § 4-55C-2 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55C - Solar Energy Improvement Special Assessment|Section 4-55C-2 - Definitions.

As used in the Solar Energy Improvement Special Assessment Act: A. "county" means a county, including an H class county; B. "eligible solar energy improvement" means a photovoltaic or solar thermal system installed on residential or commercial property; C. "photovoltaic system" means an energy system that collects or absorbs sunlight for conversion into electricity; and D. "solar thermal system" means an energy system that collects or absorbs solar energy for conversion into heat for the purposes of space heating, space cooling or water heating. History: Laws 2009, ch. 270, § 2. ANNOTATIONSEffective dates. — Laws 2009, ch. 270, § 9 made the act effective July 1, 2009.
NM Stat § 4-55C-3 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55C - Solar Energy Improvement Special Assessment|Section 4-55C-3 - Ordinance imposing solar energy improvement special assessment.

A. The board of county commissioners of a county may provide by ordinance for a solar energy improvement special assessment to be imposed on a residential or commercial property within the boundaries of the county if the owner of the property requests the assessment. B. A solar energy improvement special assessment may be imposed on commercial property within the boundaries of an incorporated municipality in a county if the municipality adopts an ordinance approving the application of the county's ordinance within the incorporated municipality.C. The purpose of the solar energy improvement special assessment shall be to increase access to the benefits of solar technology improvements by participation in a voluntary special assessment on property, which can be used to facilitate financing arrangements for the eligible solar energy improvements. History: Laws 2009, ch. 270, § 3; 2019, ch. 110, § 3. ANNOTATIONSThe 2019 amendment, effective June 14, 2019, provided that solar energy improvement special assessments may be imposed on commercial property within the boundaries of an incorporated municipality in a county if the municipality adopts an ordinance approving the application of the county's ordinance within the incorporated municipality; in the section heading, added "improvement"; added subsection designation "A."; added new Subsection B; and added new subsection designation "C.".
NM Stat § 4-55C-4 (2021)
2021 New Mexico Statutes|Chapter 4 - Counties|Article 55C - Solar Energy Improvement Special Assessment|Section 4-55C-4 - Implementation of solar energy improvement special assessment.

A board of county commissioners enacting an ordinance providing for a solar energy improvement special assessment shall direct the county treasurer to include the solar energy improvement special assessment in the property tax bill for property subject to the assessment and to collect the assessment at the same time and in the same manner as property taxes are levied and collected if: A. the property owner has submitted a written application, in a format approved by the county treasurer, requesting that the solar energy improvement special assessment be applied to the owner's property for the purpose of financing an eligible solar energy improvement on the property; B. the county assessor has verified that the property owner requesting the solar energy improvement special assessment is the owner of record of the property with respect to which the solar energy improvement special assessment will be levied and that there are no delinquent taxes on the property; C. the property owner has submitted certification, in a format approved by the county treasurer, that the improvements to the property: (1) are eligible solar energy improvements; (2) comply with guidelines for photovoltaic or solar thermal systems established by the energy, minerals and natural resources department; and (3) will be installed in compliance with the guidelines established by the energy, minerals and natural resources department for installation of photovoltaic or solar thermal systems; D. the property owner has submitted documentation, in a format approved by the county treasurer, of the proposed financing agreement for the solar energy improvements to the property to establish: (1) that the financing will be provided by an entity that has been certified by the financial institutions division of the regulation and licensing department as a solar energy improvement financing institution, pursuant to the provisions of Section 7 [4-55C-7 NMSA 1978] of the Solar Energy Improvement Special Assessment Act; (2) that the financing is for an amount, including principal, interest and administrative fees to the county, that is no more than forty percent of the assessed value of the property according to current county property tax records and that the administrative fees to the county constitute no more than ten percent of the total financing amount; (3) the annual amount of the solar energy improvement special assessment necessary to satisfy the financing agreement and the number of years the assessment shall be imposed on the property; and (4) the conditions by which the property owner may prepay and permanently satisfy the debt owed pursuant to the financing agreement and remove the solar improvement special assessment and lien from the property. History: Laws 2009, ch. 270, § 4. ANNOTATIONSEffective dates. — Laws 2009, ch. 270, § 9 made the act effective July 1, 2009.