reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-11 - Districting the authority.

A. The interim board shall, within one hundred eighty days of the filing of the decision of the county special district commission with the county clerk, and after public hearing, adopt by resolution a districting plan which causes the area within the authority to be divided into seven geographical districts numbered one through seven and each district shall elect one representative. Each representative representing a district shall reside in and be elected by qualified voters of that district only.
B. In establishing authority districts, the interim appointed board shall consider the following principles which, in the event of any conflict among them, shall be considered in the following order:
(1) the districts shall contain as nearly as possible substantially the same population based on the most recent federal census;
(2) communities of interest, including those based upon ethnic and economic factors, shall be preserved whenever reasonable within a single district; and
(3) the districts shall be formed of compact, contiguous territories and the total length of all district boundaries shall be as short as possible.
C. Redistricting shall occur upon any change in the authority's boundaries.
History:
Laws 1993, ch. 319, § 11.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-12 - Board of directors.

The governing body of the authority is a board of directors consisting of seven qualified electors of the authority. All powers, rights, privileges and duties vested in or imposed upon the authority are exercised and performed by and through the board of directors; provided that the exercise of any executive, administrative and ministerial powers may be, by the board, delegated and redelegated to officers and employees of the authority. Except for the first directors appointed as provided for in Section 74-10-5 NMSA 1978, the term of each director commences on the first day of January next following a regular local election in the state and runs for six years.
History:
Laws 1993, ch. 319, § 12; 2019, ch. 212, § 269.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, revised provisions related to the terms of office for directors; and deleted "5 of the Solid Waste Authority Act or elected as provided in Section 13 of the Solid Waste Authority Act and except for any director chosen to fill an unexpired term" and added "74-10-5 NMSA 1978", and deleted "Each director, subject to such exceptions, shall serve a six-year term ending on the first day of January next following a general election, and each director shall serve until his successor has been duly chosen and qualified."
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-13 - Election of directors.

Each biennial nonpartisan election of directors shall be conducted at the time of the regular local election under the direction of the county clerk and in accordance with the election laws of New Mexico. Any other election of the authority, including an election to seek approval for the issuance of bonds, shall be conducted pursuant to the provisions of the Local Election Act [Chapter 1, Article 22 NMSA 1978].
History:
Laws 1993, ch. 319, § 13; 2019, ch. 212, § 270.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, provided that each biennial nonpartisan election of directors shall be conducted at the time of the regular local election, and provided that any other election shall be conducted pursuant to the Local Election Act; after "conducted at the time of the", deleted "general" and added "regular local", and after "shall be conducted", deleted "at any time approved by the board in accordance with the election laws of New Mexico" and added "pursuant to the provisions of the Local Election Act".
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-14 - Election resolution.

The board shall call any election by resolution as prescribed in the Local Election Act [Chapter 1, Article 22 NMSA 1978]. The resolution shall recite the objects and purposes of the election and indicate the general or regular local election on which the ballot question shall appear or specify the date a special election will be held.
History:
Laws 1993, ch. 319, § 14; 2019, ch. 212, § 271.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, revised provisions related to a resolution that calls for an election; and deleted "adopted at least one hundred eighty days prior to the election" and added "as prescribed in the Local Election Act", after "purposes of the election and", and deleted "the date upon which the election shall" and added "indicate the general or regular local election on which the ballot question shall appear or specify the date a special election will".
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-15 - Conduct of election.

An election held pursuant to the Solid Waste Authority Act shall be conducted pursuant to the provisions of the Local Election Act [Chapter 1, Article 22 NMSA 1978].
History:
Laws 1993, ch. 319, § 15; 2019, ch. 212, § 272.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, provided that an election held pursuant to the Solid Waste Authority Act shall be conducted pursuant to the Local Election Act"; and deleted "in the manner provided by the laws of the state for the conduct of general elections" and added "pursuant to the provisions of the Local Election Act".
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-16 - Repealed.

History:
Laws 1993, ch. 319, § 16; repealed by Laws 2019, ch. 212, § 284.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 212, § 284 repealed 74-10-16 NMSA 1978, as enacted by Laws 1993, ch. 319, § 16, relating to notice of election, effective April 3, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-17 - Repealed.

History:
Laws 1993, ch. 319, § 17; repealed by Laws 2019, ch. 212, § 284.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 212, § 284 repealed 74-10-17 NMSA 1978, as enacted by Laws 1993, ch. 319, § 17, relating to polling places, effective April 3, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-18 - Repealed.

History:
Laws 1993, ch. 319, § 18; repealed by Laws 2019, ch. 212, § 284.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 212, § 284 repealed 74-10-18 NMSA 1978, as enacted by Laws 1993, ch. 319, § 18, relating to election supplies, effective April 3, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-19 - Approval of proposals at election.

Except as otherwise provided, any proposal submitted at any election held pursuant to the Solid Waste Authority Act shall not carry unless the proposal has been approved by a majority of the qualified electors of the authority voting on the proposal.
History:
Laws 1993, ch. 319, § 19; 2019, ch. 212, § 273.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, revised certain election procedures for elections held pursuant to the Solid Waste Authority Act; in the section heading, added "Approval of proposals at" and deleted "returns"; and deleted "The authority shall appoint an authority precinct board at the authority's expense for each polling place. For authority elections held at the time of the general election, the authority shall be provided space in the polling places where the general election is being conducted. Paper ballots shall be used in the conduct of any authority election, and the authority precinct board shall conduct the election as provided in the Election Code where paper ballots are used. The separate authority precinct board shall certify the results of the election in that precinct to the secretary within twelve hours after the close of the polls. The secretary shall canvass the results of the authority election as certified by each of the separate authority precinct boards and shall declare the results of the election at any regular or special meeting held not less than five days following the date of the election."
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-20 - Filling vacancies on board.

Any vacancy on the board shall be filled by appointment by the remaining members of the board, the appointee to act until the next biennial election when the vacancy shall be filled by election. Any vacancy on the appointed board shall be filled in the same manner as original appointments, the appointee to act until the next election.
History:
Laws 1993, ch. 319, § 20.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-21 - Changing authority's boundaries.

The elected board has the authority to petition the county special district commission to change the authority's boundaries. The county special district commission's decision shall be made in accordance with Sections 8, 9 and 10 [74-10-8, 74-10-9 and 74-10-10 NMSA 1978] of the Solid Waste Authority Act.
History:
Laws 1993, ch. 319, § 21.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-22 - Board's administrative powers.

The board may exercise the following powers:
A. fix the time and place at which its regular meetings will be held within the authority and provide for the calling and holding of special meetings;
B. adopt and amend or otherwise modify bylaws and rules for procedure;
C. select one director as chairman of the board and president of the authority, and another director as chairman pro tem of the board and president pro tem of the authority, and choose a secretary and a treasurer of the board and authority, each of which two positions may be filled by a person who is, or is not, a director, and both of which positions may, or may not, be filled by one person;
D. prescribe by resolution a system of business administration and create all necessary offices and establish and re-establish the powers, duties and compensation of all officers and employees;
E. require and fix the amount of all official bonds necessary or desirable and convenient in the opinion of the board for the protection of the funds and property of the authority, subject to the provisions of Section 13 [74-10-13 NMSA 1978] of the Solid Waste Authority Act;
F. prescribe a method of auditing and allowing or rejecting claims and demands;
G. provide a method for the letting of contracts on a fair and competitive basis for the construction of works, any facility or any project or any interest therein or the performance or furnishing of labor, materials or supplies as required in that act;
H. designate an official newspaper published in the authority in the English language and direct additional publication in any newspaper where it deems that the public necessity may so require; and
I. make and pass resolutions and orders on behalf of the authority not repugnant to the provisions of the Solid Waste Authority Act, necessary or proper for the government and management of the affairs of the authority, for the execution of the powers vested in the authority and for carrying into effect the provisions of that act.
History:
Laws 1993, ch. 319, § 22.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-23 - Records of board.

On all resolutions and orders, the roll shall be called, and the ayes and nays shall be recorded. All resolutions and orders, as soon as may be after their passage, shall be recorded in a book kept for that purpose and be authenticated by the signature of the presiding officer of the board and the secretary. Every legislative act of the board of a general or permanent nature shall be by resolution. The book of resolutions and orders is a public record. A record shall also be made of all other proceedings of the board, minutes of all meetings, certificates, contracts, bonds given by officers, employees and any other agents of the authority, and all corporate acts, which record is also a public record. The treasurer shall keep strict and accurate accounts of all money received by and disbursed for and on behalf of the authority in a permanent record, which is also a public record. Any permanent record of the authority shall be open for inspection by any qualified elector thereof, by any other interested person or by any representative of the federal government or any public body. All records are subject to audit as provided by law for political subdivisions.
History:
Laws 1993, ch. 319, § 23.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-24 - Meetings of board.

All meetings of the board shall be open to the public. No business of the board shall be transacted except at a regular or special meeting at which a quorum consisting of at least three-fifths of the total membership of the board is present. Any action of the board requires the affirmative vote of a majority of the directors present and voting. A smaller number of directors than a quorum may adjourn from time to time and may compel the attendance of absent members in the manner and under such penalties as the board may provide.
History:
Laws 1993, ch. 319, § 24.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-26 - Interest in contracts and property disqualifications.

No director or officer, employee or agent of the authority may be interested in any contract or transaction with the authority except in his official representative capacity or as provided, except for any contract of employment with the authority. Neither the holding of any office nor employment in the government of any public body or the federal government nor the owning of any property within the state, within or without the authority, may be deemed a disqualification for membership on the board or employment by the authority, or a disqualification for compensation for services as an officer, employee or agent of the authority, except as provided in Section 22 [74-10-22 NMSA 1978] of the Solid Waste Authority Act.
History:
Laws 1993, ch. 319, § 26.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-28 - Levy and collection of taxes.

To levy and collect taxes, the board shall determine in each year the amount of money necessary to be raised by taxation, taking into consideration other sources of revenue of the authority, and shall propose by resolution a rate of levy, without limitation as to rate or amount, except for the limitation in Section 27 [74-10-27 NMSA 1978] of the Solid Waste Authority Act and for any constitutional limitation, which, when levied upon the net taxable value, as that term is defined in the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978], of all property subject to property taxation within the authority, and together with other revenues, will raise the amount required by the authority annually to supply funds for paying expenses of organization and the costs of acquiring, improving, equipping, operating and maintaining any project or facility of the authority, and promptly to pay in full, when due, all interest on and principal of bonds and other securities of the authority, and in the event of accruing defaults or deficiencies, an additional levy may be made as provided in Section 29 [74-10-29 NMSA 1978] of the Solid Waste Authority Act.
History:
Laws 1993, ch. 319, § 28.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-29 - Levies to cover deficiencies.

The board, in proposing ad valorem tax levies by resolution, shall take into account the maturing indebtedness for the ensuing year as provided in its contracts, maturing securities and interest on securities, and deficiencies and defaults of prior years and shall make ample provision for the payment thereof. In case the money produced from such levies, together with other revenues of the authority, is not sufficient punctually to pay the annual installments of its contracts or securities, and interest thereon, and to pay defaults and deficiencies, the board shall propose by resolution such additional levies of taxes as may be necessary for such purposes, and notwithstanding any limitations, except the limitation in Subsection I of Section 27 [74-10-27 NMSA 1978] of the Solid Waste Authority Act, and any constitutional limitation, such taxes, if approved by the qualified electors, shall be made and continue to be levied until the indebtedness of the authority is fully paid.
History:
Laws 1993, ch. 319, § 29.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-30 - Elections for imposition of ad valorem taxes.

Whenever the board shall determine by resolution that the interest of the authority and the public interest or necessity demand the imposition of a general ad valorem tax, the board shall certify the rate of ad valorem tax needed and shall order the submission of the proposition of imposing the ad valorem tax to the qualified electors residing within the authority. Any such election may be held separate or may be consolidated or held concurrent with any other election authorized by the Solid Waste Authority Act. Such resolution shall also fix the date upon which the election shall be held, the manner of holding the same, the method of voting for or against the imposition of the proposed ad valorem tax, shall designate the polling place or places and shall appoint for each polling place from the qualified electors of the district the officers of such election consisting of three judges, one of whom shall act as clerk.
History:
Laws 1993, ch. 319, § 30.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-31 - Conduct of election.

Elections for imposition of ad valorem taxes shall be conducted in a manner prescribed by the laws of the state for the conduct of general elections and in accordance with the provisions and procedures outlined in the Solid Waste Authority Act for the election of directors.
History:
Laws 1993, ch. 319, § 31.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-32 - Sinking fund.

Whenever any indebtedness has been incurred by the authority, it is lawful for the board to levy taxes and to collect revenue for the purpose of creating a reserve fund in such amount as the board may determine, which may be used to meet the obligations of the authority, for maintenance and operating charges and depreciation, and to provide improvements for the authority.
History:
Laws 1993, ch. 319, § 32.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-33 - Manner of levying and collecting taxes.

It is the duty of the body having authority to levy taxes within each county to levy the taxes provided in Subsection I of Section 27 [74-10-27 NMSA 1978] of the Solid Waste Authority Act, and elsewhere in that act. It is the duty of all officials charged with collecting taxes to collect such taxes at the time and in the form and manner and with like interest and penalties as other general ad valorem taxes are collected, and when collected, to pay the same to the authority. The payment of such collection shall be made monthly to the treasurer of the authority and paid into the depository thereof to the credit of the authority. All general ad valorem taxes levied under that act, together with interest thereon and penalties for default in payment thereof, and all costs of collecting the same constitute until paid a perpetual lien on and against the property taxed, and such lien is on a parity with the tax lien of other general ad valorem taxes.
History:
Laws 1993, ch. 319, § 33.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-34 - Delinquent taxes.

If the general ad valorem taxes levied are not paid, then delinquent real property shall be sold at the regular tax sale for the payment of such taxes, interest and penalties, in the manner provided by the statutes of the state for selling real property for the nonpayment of general taxes. If there are no bids at the tax sale for the property so offered, the property shall be struck off to the county, and the county shall account to the authority in the same manner as provided by law for accounting for school, town and city taxes. Delinquent personal property shall be distrained and sold as provided by law.
History:
Laws 1993, ch. 319, § 34.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-36 - Effect of extraterritorial functions.

All of the powers, privileges, immunities and rights, exemptions from laws, ordinances and rules, all pension, relief, disability, workers' compensation and other benefits which apply to the activity of officers, agents or employees of the authority or any such public body when performing their respective functions within the territorial limits of the respective public agencies apply to them to the same degree and extent while engaged in the performance of any of their functions and duties extraterritorially under the Solid Waste Authority Act.
History:
Laws 1993, ch. 319, § 36.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-37 - Forms of borrowing.

Upon the conditions and under the circumstances set forth in the Solid Waste Authority Act, the authority, to carry out the purposes of that act, from time to time may borrow money to defray the cost of any project, or any part thereof, as the board may determine and issue the following securities to evidence such borrowing:
A. notes;
B. warrants;
C. bonds;
D. temporary bonds; and
E. interim debentures.
History:
Laws 1993, ch. 319, § 37.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-39 - Issuance of warrants.

The authority is authorized to defray the cost of any services, supplies, equipment or other materials furnished to or for the benefit of the authority by the issuance of warrants to evidence the amount due therefor, without an election, in anticipation of taxes or other revenues, or both.
History:
Laws 1993, ch. 319, § 39.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-40 - Maturities of notes and warrants.

Notes and warrants may mature at such time not exceeding one year from the respective dates of their issuance as the board may determine. They shall not be extended or funded except by the issuance of bonds or interim debentures in compliance with Sections 41 and 43 [74-10-41 and 74-10-43 NMSA 1978] of the Solid Waste Authority Act.
History:
Laws 1993, ch. 319, § 40.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-41 - Issuance of bonds and incurrence of debt.

The authority is authorized to borrow money in anticipation of taxes or other revenues, or both, and to issue bonds to evidence the amount so borrowed. No bonded indebtedness or any other indebtedness not payable in full within one year, except for interim debentures as provided in Sections 43 and 86 through 88 [74-10-43 and 74-10-86 to 74-10-88 NMSA 1978] of the Solid Waste Authority Act, shall be created by the authority without first submitting a proposition of issuing such bonds to the qualified electors of the authority and being approved by a majority of such electors voting thereon at an election held for that purpose in accordance with Sections 13 through 17 [74-10-13, 74-10-14, 74-10-15 NMSA 1978] of that act. Bonds so authorized may be issued in one series or more and may mature at such time or times not exceeding forty years from their issuance as the board may determine. The total of all outstanding indebtedness at any one time shall not exceed thirty million dollars ($30,000,000) without prior approval of the state legislature.
History:
Laws 1993, ch. 319, § 41.
ANNOTATIONS
Compiler's notes.
— Laws 2019, ch. 212, § 284 repealed 74-10-16 and 74-10-17 NMSA 1978, effective April 3, 2019.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-42 - Issuance of temporary bonds.

The authority is authorized to issue temporary bonds, pending preparation of definitive bond or bonds and exchangeable for the definitive bond or bonds when prepared, as the board may determine. Each temporary bond shall set forth substantially the same conditions, terms and provisions as the definitive bond for which it is exchanged. Each holder of any such temporary security shall have all the rights and remedies which he would have as a holder of the definitive bond or bonds.
History:
Laws 1993, ch. 319, § 42.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-43 - Issuance of interim debentures.

The authority is authorized to borrow money and to issue interim debentures evidencing construction or short-term loans for the acquisition or improvement and equipment of the solid waste system or any project in supplementation of long-term financing and the issuance of bonds as provided in Sections 86 through 88 [74-10-86 to 74-10-88 NMSA 1978] of the Solid Waste Authority Act.
History:
Laws 1993, ch. 319, § 43.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-44 - Payment of securities.

All securities issued by the authority shall be authorized by resolution. The authority may pledge its full faith and credit for the payment of any securities authorized in the Solid Waste Authority Act, the interest thereon, any prior redemption premium or premiums and any charges appertaining thereto. Securities may constitute the direct and general obligations of the authority. Their payment may be secured by a specific pledge of tax proceeds and other revenues of the authority as the board may determine.
History:
Laws 1993, ch. 319, § 44.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-45 - Additionally secured securities.

The board, in connection with such additionally secured securities, in the resolution authorizing their issuance or other instrument appertaining thereto, may pledge all or a portion of such revenues, subject to any prior pledges, as additional security for such payment of such securities, and at its option may deposit such revenues in a fund created to pay the securities or created to secure additionally their payment.
History:
Laws 1993, ch. 319, § 45.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-46 - Pledge of revenues.

Any such revenues pledged directly or as additional security for the payment of securities of any one issue or series, which revenues are not exclusively pledged therefor, may subsequently be pledged directly or as additional security for the payment of the securities of one or more issue or series subsequently authorized.
History:
Laws 1993, ch. 319, § 46.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-47 - Ranking among different issues.

All securities of the same issue or series shall, subject to the prior and superior rights of outstanding securities, claims and other obligations, have a prior, paramount and superior lien on the revenues pledged for the payment of the securities over and ahead of any lien thereagainst subsequently incurred of any other securities; provided, however, the resolution authorizing, or other instrument appertaining to, the issuance of any securities may provide for the subsequent authorization of bonds or other securities the lien for the payment of which on such revenues is on a parity with the lien thereon of the subject securities upon such conditions and subject to such limitations as the resolution or other instrument may provide.
History:
Laws 1993, ch. 319, § 47.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-48 - Ranking among securities of same issue.

All securities of the same issue or series shall be equally and ratably secured without priority by reason of number, date of maturity, date of securities, of sale, of execution or of delivery, by a lien on such revenues in accordance with the provisions of the Solid Waste Authority Act and the resolution authorizing, or other instrument appertaining to, such securities, except to the extent such resolution or other instrument otherwise expressly provides.
History:
Laws 1993, ch. 319, § 48.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-49 - Payment recital in securities.

Each security issued under the Solid Waste Authority Act shall recite in substance that the security and the interest on that security are payable solely from the revenues or other money pledged to the payment of those revenues. Securities specifically pledging the full faith and credit of the authority for their payment shall so state.
History:
Laws 1993, ch. 319, § 49.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-50 - Incontestable recital in securities.

Any resolution authorizing, or other instrument appertaining to, any securities under the Solid Waste Authority Act may provide that each security authorized by such a resolution shall recite that it is issued under authority of that act. Such recital shall conclusively impart full compliance with all of the provisions of that act, and all securities issued containing such recital shall be incontestable for any cause whatsoever after their delivery for value.
History:
Laws 1993, ch. 319, § 50.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-51 - Limitations upon payment of securities.

The payment of securities shall not be secured by an encumbrance, mortgage or other pledge of property of the authority, except for revenues, income, tax proceeds and other money pledged for the payment of securities. No property of the authority, subject to such exception, shall be liable to be forfeited or taken in payment of the securities.
History:
Laws 1993, ch. 319, § 51.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-52 - Limitations upon incurring any debt.

Nothing in the Solid Waste Authority Act shall be construed as creating or authorizing the creation of an indebtedness on the part of any municipality or other public body included in the authority or elsewhere located.
History:
Laws 1993, ch. 319, § 52.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-53 - Security details.

Any securities authorized to be issued in the Solid Waste Authority Act shall bear the date or dates, shall be in the denomination or denominations, shall mature at the time or times but in no event exceeding forty years from their date or any shorter limitation provided in that act, shall bear interest which may be evidenced by one or two sets of coupons, payable annually or semiannually, except that the first coupon or coupons, if any, appertaining to any security may represent interest for any period not in excess of one year, as may be prescribed by resolution or other instrument; and the securities and any coupons shall be payable in the medium of payment at any banking institution or other place or places within or without the state, including but not limited to the office of the treasurer of the county in which the authority is located wholly or in part, as determined by the board, and the securities at the option of the board may be in one or more series, may be made subject to prior redemption in advance of maturity in the order or by lot or otherwise at the time or times without or with the payment of the premium or premiums not exceeding six percent of the principal amount of each security so redeemed, as determined by the board.
History:
Laws 1993, ch. 319, § 53.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-54 - Capitalization of costs.

Any resolution authorizing the issuance of securities or other instrument appertaining thereto may capitalize interest on any securities during any period of construction or other acquisition estimated by the board and one year thereafter and any other cost of any project by providing for the payment of the amount capitalized from the proceeds of the securities.
History:
Laws 1993, ch. 319, § 54.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-55 - Other security details.

Securities may be issued in such manner, in such form, with such recitals, terms, covenants and conditions and with such other details as may be provided by the board in the resolution authorizing the securities, or other instrument appertaining thereto, except as otherwise provided in the Solid Waste Authority Act.
History:
Laws 1993, ch. 319, § 55.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-56 - Reissuance of securities.

Any resolution authorizing the issuance of securities or any other instrument appertaining thereto may provide for their reissuance in other denominations in negotiable or nonnegotiable form and otherwise in such manner and form as the board may determine.
History:
Laws 1993, ch. 319, § 56.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-57 - Negotiability.

Subject to the payment provisions specifically provided in the Solid Waste Authority Act, the notes, warrants, bonds, any interest coupons thereto attached, temporary bonds and interim debentures shall be fully negotiable within the meaning of and for all the purposes of the Uniform Commercial Code [Chapter 55 NMSA 1978] except as the board may otherwise provide. Each holder of such security, or of any coupon appertaining thereto, by accepting such security or coupon shall be conclusively deemed to have agreed that such security or coupon, except as otherwise provided, is and shall be fully negotiable within the meaning and for all purposes of that code.
History:
Laws 1993, ch. 319, § 57.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-58 - Single bonds.

Notwithstanding any other provision of law, the board in any proceedings authorizing securities under the Solid Waste Authority Act:
A. may provide for the initial issuance of one or more securities, in this section called "bond", aggregating the amount of the entire issue or a designated portion thereof;
B. may make such provision for installment payments of the principal amount of any such bond as it may consider desirable;
C. may provide for the making of any such bond payable to bearer or otherwise, registrable as to principal or as to both principal and interest, and where interest accruing thereon is not represented by interest coupons, for the endorsing of payments of interest on such bonds; and
D. may further make provision in any such proceedings for the manner and circumstances in and under which any such bond may in the future, at the request of the holder thereof, be converted into securities of smaller denominations, which securities of smaller denominations may in turn be either coupon bonds or bonds registrable as to principal or principal and interest or both.
History:
Laws 1993, ch. 319, § 58.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-59 - Lost or destroyed securities.

If lost or completely destroyed, any security may be reissued in the form and tenor of the lost or destroyed security upon the owner furnishing to the satisfaction of the board:
A. proof of ownership;
B. proof of loss or destruction;
C. a surety bond in twice the face amount of the security and any coupons; and
D. payment of the cost of preparing and issuing the new security.
History:
Laws 1993, ch. 319, § 59.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-60 - Execution of securities.

Any security shall be executed in the name of and on behalf of the authority and signed by the chairman, with the seal of the authority affixed thereto and attested by the secretary, except for securities issued in book entry or similar form without the delivery of physical securities.
History:
Laws 1993, ch. 319, § 60.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-61 - Interest coupons.

Except for any bonds which are registrable for payment of interest, interest coupons payable to bearer and appertaining to the bonds shall be issued and shall bear the original or facsimile signature of the chairman.
History:
Laws 1993, ch. 319, § 61.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-62 - Facsimile signatures.

Any of the officers, after filing with the secretary of state his manual signature certified by him under oath, may execute or cause to be executed with a facsimile signature in lieu of his manual signature any security authorized in the Solid Waste Authority Act; provided that such a filing is not a condition of execution with a facsimile signature of any interest coupon, and provided that at least one signature required or permitted to be placed on each such security, excluding any interest coupon, shall be manually subscribed. An officer's facsimile signature has the same legal effect as his manual signature.
History:
Laws 1993, ch. 319, § 62.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-63 - Facsimile seal.

The secretary may cause the seal of the authority to be printed, engraved, stamped or otherwise placed in facsimile on any security. The facsimile seal has the same legal effect as the impression of the seal.
History:
Laws 1993, ch. 319, § 63.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-64 - Signatures of predecessors in office.

The securities and any coupons bearing the signatures of the officers in office at the time of the signing shall be the valid and binding obligations of the authority, notwithstanding that before the delivery thereof and payment therefor, any or all of the persons whose signatures appear on those securities or coupons shall have ceased to fill their respective offices.
History:
Laws 1993, ch. 319, § 64.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-65 - Facsimile signatures of predecessors.

Any officer authorized or permitted in the Solid Waste Authority Act to sign any security or interest coupon, at the time of its execution and of the execution of a signature certificate, may adopt as and for his own facsimile signature the facsimile signature of his predecessor in office in the event that such facsimile signature appears upon the security or coupons appertaining thereto, or upon both the security and such coupons.
History:
Laws 1993, ch. 319, § 65.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-66 - Repurchase of securities.

The securities may be repurchased by the authority out of any funds available for such purpose from the project to which they pertain at a price of not more than the principal amount thereof and accrued interest, plus the amount of the premium, if any, which might, on the next redemption date of such securities, be paid to the holders thereof if such securities should be called for redemption on such date pursuant to their terms, and all securities so repurchased shall be canceled.
History:
Laws 1993, ch. 319, § 66.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-67 - Customary provisions.

The resolution authorizing the securities or other instrument appertaining thereto may contain any agreement or provision customarily contained in instruments securing securities, including without limiting the generality of the foregoing, covenants designated in Section 73 [74-10-73 NMSA 1978] of the Solid Waste Authority Act.
History:
Laws 1993, ch. 319, § 67.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-68 - Sale of securities.

Any securities authorized in the Solid Waste Authority Act, except for warrants not issued for cash and except for temporary bonds issued pending preparation of definitive bond or bonds, shall be sold at public or private sale at, above or below par at a net effective interest rate not exceeding the maximum net effective interest rate permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978] as amended and supplemented by the Solid Waste Authority Act.
History:
Laws 1993, ch. 319, § 68.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-69 - Sale discount or commission prohibited.

No discount, except as provided by the Solid Waste Authority Act, or commission shall be allowed or paid on or for any security sale to any purchaser or bidder, directly or indirectly, but nothing contained in that act shall be construed as prohibiting the board from employing legal, fiscal, engineering and other expert services in connection with any project or facilities authorized in that act and with the authorization, issuance and sale of securities.
History:
Laws 1993, ch. 319, § 69.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-70 - Application of proceeds.

All money received from the issuance of any securities authorized in the Solid Waste Authority Act shall be used solely for the purpose for which issued and the cost of any project thereby delineated. Any accrued interest and any premium shall be applied to the payment of the interest on, or the principal of, the securities, or both interest and principal, or shall be deposited in a reserve therefor, as the board may determine.
History:
Laws 1993, ch. 319, § 70.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-71 - Use of unexpended proceeds.

Any unexpended balance of such security proceeds remaining after the completion of the acquisition or improvement and equipment of the project or the completion of the purpose for which such securities were issued shall be paid immediately into the fund created for the payment of the principal of such securities and shall be used therefor, subject to the provisions as to the times and methods for their payment as stated in the securities and the proceedings authorizing or otherwise appertaining to their issuance, or so paid into a reserve therefor.
History:
Laws 1993, ch. 319, § 71.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-72 - Validity unaffected by use of proceeds.

The validity of such securities shall not be dependent on nor affected by the validity or regularity of any proceedings relating to the acquisition or improvement and equipment of the project or the proper completion of any project for which the securities are issued. The purchaser or purchasers of the securities shall in no manner be responsible for the application of the proceeds of the securities by the authority or any of its officers, agents and employees.
History:
Laws 1993, ch. 319, § 72.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-73 - Covenants in security proceedings.

Any resolution or trust indenture authorizing the issuance of securities or any other instrument appertaining thereto may contain covenants and other provisions, notwithstanding such covenants and provisions may limit the exercise of powers conferred by the Solid Waste Authority Act, in order to secure the payment of such securities in agreement with the holders and owners of such securities, as the board may determine, including without limiting the generality of the foregoing, all such acts and things as may be necessary or convenient or desirable in order to secure the authority's securities, or in the discretion of the board tend to make the securities more marketable, notwithstanding that such covenant, act or thing may not be enumerated in that act, it being the intention of that act to give the authority power to do all things in the issuance of securities and for their security except as specifically limited in that act.
History:
Laws 1993, ch. 319, § 73.
2023 New Mexico Statutes › Chapter 74 - Environmental Improvement › Article 10 - Solid Waste Authority › Section 74-10-74 - Remedies of security holders.

Subject to any contractual limitations binding upon the holders of any issue or series of securities, or trustee therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion, percentage or number of such holders, and subject to any prior or superior rights of others, any holder of securities, or trustee therefor, shall have the right and power for the equal benefit and protection of all holders of securities similarly situated:
A. by mandamus or other suit, action or proceeding at law or in equity to enforce his rights against the authority and the board and any of its officers, agents and employees, and to require and compel the authority or the board or any such officers, agents or employees to perform and carry out its and their duties, obligations or other commitments under the Solid Waste Authority Act and its and their covenants and agreements with the holder of any security;
B. by action or suit in equity to require the authority and the board to account as if they were the trustee of an express trust;
C. by action or suit in equity to have appointed a receiver, which receiver may enter and take possession of any system or project or services revenues from which are pledged for the payment of the securities, prescribe sufficient fees derived from the operation thereof, and collect, receive and apply all revenues or other money pledged for the payment of the securities in the same manner as the authority itself might do in accordance with the obligations of the authority; and
D. by action or suit in equity to enjoin any acts or things which may be unlawful or in violation of the rights of the holder of any security and to bring suit thereupon.
History:
Laws 1993, ch. 319, § 74.