2023 New Mexico Statutes › Chapter 63 - Railroads and Communications › Article 9D - Enhanced 911 › Section 63-9D-14 - Enhanced 911 bonds; authority to issue; pledge of revenues; limitation on issuance.

A. In addition to any other law authorizing the board to issue revenue bonds, the board may issue enhanced 911 bonds pursuant to the Enhanced 911 Bond Act [63-9D-12 to 63-9D-20 NMSA 1978] for the purposes specified in this section.
B. Enhanced 911 bonds may be issued for:
(1) acquiring, extending, enlarging, bettering, repairing, improving, constructing, purchasing, furnishing, equipping or rehabilitating the enhanced 911 system, the payment of which shall be secured by enhanced 911 revenues;
(2) reimbursing a communications service provider for its reasonable costs of providing enhanced 911 service, the payment of which shall be secured by enhanced 911 revenues; or
(3) reimbursing a local governing body or its fiscal agent for its reasonable costs of providing the enhanced 911 system, the payment of which shall be secured by enhanced 911 revenues.
C. The board may pledge irrevocably enhanced 911 revenues in the manner set forth in Subsection B of this section to the payment of the interest on and principal of enhanced 911 bonds. Any general determination by the board that expenditures are reasonably related to and constitute a part of a specified enhanced 911 project shall be conclusive if set forth in the proceedings authorizing the enhanced 911 bonds.
History:
Laws 1990, ch. 61, § 3; 1992, ch. 102, § 3; 2001, ch. 110, § 16; 2005, ch. 203, § 10; 2017, ch. 122, § 9.
ANNOTATIONS
The 2017 amendment,
effective June 16, 2017, changed references to "telecommunications company or commercial mobile radio service provider" to "communications service provider"; in Subsection B, Paragraph B(2), after "reimbursing a", deleted "commercial mobile radio" and added "communications", and after "service provider", deleted "or telecommunications company".
The 2005 amendment,
effective July 1, 2005, deleted references to "wireless enhanced 911 revenues", "wireless 911 service" and "network and data base surcharge revenues"; provided in Subsection B(2) that bonds may be issued to reimburse telecommunications companies for reasonable costs; and provided in Subsection C that any general determination by the board that expenditures are reasonably related to an enhanced 911 project shall be conclusive.
The 2001 amendment,
effective July 1, 2001, added the designations for Paragraph B(1) and for Subsection C; added the last clause in Paragraph B(1) beginning with "the payment of which shall"; added Paragraphs B(2) and (3); in present Subsection C, substituted "enhanced 911 revenues, network and database surcharge revenues and wireless enhanced 911 revenues in the manner set forth in Subsection B of this section" for "any or all of the projected revenues of the enhanced 911 fund, specifically including the 911 emergency surcharge authorized under the Enhanced 911 Act" and substituted "principal of enhanced 911 bonds" for "principal of such bonds".
The 1992 amendment,
effective March 10, 1992, substituted "or" for "and" near the end of the first sentence of Subsection B.