reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-31 - Revenue bonds; issuance; status.

A. A local government may issue revenue bonds in connection with a financing agreement for the purposes of financing a project authorized by the provisions of the Redevelopment Bonding Law [3-60A-26 to 3-60A-46 NMSA 1978].
B. A revenue bond shall be a limited obligation of the local government, the principal and interest of which shall be payable, subject to the mortgage provisions of the Redevelopment Bonding Law, solely out of the revenues derived from the financing, sale or leasing of the project with respect to which the bonds are issued.
C. The revenue bond and interest coupons, if any, appurtenant thereto shall never constitute a debt or indebtedness of the local government within the meaning of any provision or limitation of the constitution of New Mexico, statutes of the state or a home rule charter of the local government, and the bond shall not constitute or give rise to a pecuniary liability of the local government or a charge against its general credit or taxing powers. These limitations shall be plainly stated on the face of each bond.
History:
Laws 1979, ch. 391, § 31; 2018, ch. 60, § 29.
ANNOTATIONS
Cross references.
— For constitutional restrictions on municipal indebtedness,
see
N.M. Const., art. IX, §§ 12, 13.
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, made technical changes, and replaced "municipality" with "local government" throughout the section.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-32 - Revenue bonds; form and terms.

A. Revenue bonds shall be authorized by ordinance of the local government, shall be subject to a maximum net effective interest rate and shall be in denominations, bear a date, mature at a time not exceeding forty years from their respective dates, bear an interest at a rate, be in a form, carry registration privileges, be executed in a manner, be payable at a place within or without the state and be subject to terms of redemption as the authorizing ordinance or supplemental resolution of the local government may provide.
B. The revenue bonds may be sold in one or more series at par or below or above par at public or private sale in a manner and for a price as the local government in its discretion shall determine; but the local government shall not sell revenue bonds at a price such that the net effective interest rate of the issue of bonds exceeds the maximum net effective interest rate authorized. As an incidental expense of the project, the local government in its discretion may employ financial and legal consultants in regard to the financing of the project.
History:
Laws 1979, ch. 391, § 32; 2018, ch. 60, § 30.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, made technical changes and replaced "municipality" with "local government" throughout the section.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-33 - Revenue bonds; bond security.

The principal of, the interest on and any prior redemption premiums due in connection with the revenue bonds shall be payable from, secured by a pledge of and constitute a lien on the revenues out of which the bonds shall be made payable. In addition, they may be secured by a mortgage covering all or any part of the project or upon any other property of the user or both by a pledge of the revenues from or a financing agreement for the project or both as the local government in its discretion may determine; but no local government shall be authorized by the Redevelopment Bonding Law [3-60A-26 to 3-60A-46 NMSA 1978] to pledge any of its property or to otherwise secure the payment of any bonds with its property, except that the local government may pledge the property of the project or revenues from the project.
History:
Laws 1979, ch. 391, § 33; 2018, ch. 60, § 31.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, and made technical changes; replaced "municipality" and "governing body" with "local government" throughout the section; and after "shall be authorized by", added "the Redevelopment Bonding Law", and after "except that the", deleted "county or municipality" and added "local government".
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-33 - Revenue bonds; bond security. (Effective July 1, 2024.)

The principal of, the interest on and any prior redemption premiums due in connection with the revenue bonds shall be payable from, secured by a pledge of and constitute a lien on the revenues out of which the bonds shall be made payable. In addition, they may be secured by a mortgage covering all or any part of the project or upon any other property of the user or both by a pledge of the revenues from or a financing agreement for the project or both as the local government in its discretion may determine; but no local government shall be authorized by the Redevelopment Bonding Law [3-60A-26 through 3-60A-46 NMSA 1978] to pledge any of its property or to otherwise secure the payment of any bonds with its property, except that the local government may pledge the revenues from the project.
History:
Laws 1979, ch. 391, § 33; 2018, ch. 60, § 31; 2023, ch. 112, § 10.
ANNOTATIONS
The 2023 amendment,
effective July 1, 2024, removed a provision authorizing local governments to pledge property of a project as security for the payment of bonds; and after "may pledge the", deleted "property of the project or".
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-34 - Revenue bonds; terms of proceedings and instruments.

The proceedings under which the revenue bonds are authorized to be issued and any mortgage or trust indenture given to secure the bonds may contain any provisions customarily contained in instruments securing bonds and constituting a covenant with the bondholders, including:
A. provisions respecting custody of the proceeds from the sale of the bonds, including their investment and reinvestment until used to defray the cost of the project;
B. provisions respecting the fixing and collection of revenues from the project;
C. the terms to be incorporated in the financing agreement and any mortgage or trust indenture for the project, including without limitation provision for subleasing;
D. the maintenance and insurance of the project;
E. the creation of funds and accounts into which any bond proceeds, revenues and income may be deposited or credited;
F. limitation on the purpose to which the proceeds of any bonds then or thereafter to be issued may be applied;
G. limitation on the issuance of additional bonds, the terms upon which additional bonds are issued and secured, the refunding of bonds and the replacement of bonds;
H. the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated;
I. vesting in a trustee properties, rights, powers and duties in trust as the local government determines and limiting the rights, duties and powers of the trustees; and
J. the rights and remedies available in case of a default to the bondholders or to any trustee under the financing agreement, a mortgage or a trust indenture for the project.
History:
Laws 1979, ch. 391, § 34; 2018, ch. 60, § 32.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, and made technical changes; deleted subsection designation "A." and redesignated former Paragraphs A(1) through A(10) as Subsections A through J, respectively; and in Subsection I, after "duties in trust as the", deleted "municipality" and added "local government".
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-35 - Revenue bonds; investments and bank deposits.

A. The local government may provide that proceeds from the sale of revenue bonds and special funds from the revenues of the project shall be invested and reinvested in securities and other investments, whether or not any investment or reinvestment is authorized under any other law of this state, as may be provided in the proceedings under which the bonds are authorized to be issued, including:
(1) bonds or other obligations of the United States;
(2) bonds or other obligations, the payment of the principal and interest of which is unconditionally guaranteed by the United States;
(3) obligations issued or guaranteed as to principal and interest by any agency or person controlled or supervised by and acting as an instrumentality of the United States pursuant to authority granted by the congress of the United States;
(4) obligations issued or guaranteed by any state of the United States or any political subdivision of any such state;
(5) prime commercial paper;
(6) prime finance company paper;
(7) bankers' acceptances drawn on and accepted by commercial banks;
(8) repurchase agreements fully secured by obligations issued or guaranteed as to principal and interest by the United States or by any person controlled or supervised by and acting as an instrumentality of the United States pursuant to authority granted by the congress of the United States; and
(9) certificates of deposit issued by commercial banks.
B. The local government may also provide that the proceeds, funds or investments and the revenues payable under the financing agreement shall be received, held and disbursed by one or more banks or trust companies located within or without this state.
History:
Laws 1979, ch. 391, § 35; 2018, ch. 60, § 33.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, made technical changes, and replaced "municipality" with "local government" throughout the section.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-36 - Revenue bonds; acquisition of project.

A. The local government may also provide that:
(1) the project and improvements to be constructed, if any, shall be constructed by the local government, the user, the user's designee or any one or more of them on real estate owned by the local government, the user or the user's designee, as the case may be; and
(2) the bond proceeds shall be disbursed by the trustee bank or trust company during construction upon the estimate, order or certificate of the user or the user's designee.
B. The project, if and to the extent constructed on real estate not owned by the local government, may be conveyed or leased or an easement in the real estate granted to the local government at any time.
History:
Laws 1979, ch. 391, § 36; 2018, ch. 60, § 34.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, made technical changes, and replaced "municipality" with "local government" throughout the section.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-37 - Revenue bonds; limited obligation.

In making agreements or provisions, a local government shall not obligate itself except with respect to the project and the application of the revenues and revenue bond proceeds from the project.
History:
Laws 1979, ch. 391, § 37; 2018, ch. 60, § 35.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, and made technical changes; and after "agreement or provisions, a", deleted "municipality" and added "local government".
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-38 - Revenue bonds; rights upon default.

A. The proceedings authorizing any revenue bonds, or any mortgage securing such bonds, may provide that if there is a default in the payment of the principal of, the interest on, or any prior redemption premiums due in connection with the bonds or in the performance of any agreement contained in such proceedings or mortgage, the payment and performance may be enforced by mandamus or by the appointment of a receiver in equity with power to charge and collect rents and to apply the revenues from the project in accordance with the proceedings or the provisions of the mortgage.
B. Any mortgage to secure bonds issued thereunder may also provide that if there is a default in the payment thereof or a violation of any agreement contained in the mortgage it may be foreclosed and there may be a sale under proceedings in equity or in any other manner permitted by law. Such mortgage may also provide that any trustee under such mortgage or the holder of any bonds secured thereby may become the purchaser at any foreclosure sale if he is the highest bidder and may apply toward the purchase price unpaid bonds at the face value thereof.
History:
Laws 1979, ch. 391, § 38.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-39 - Revenue bonds; determination of revenue.

A. Prior to entering into a financing agreement for the project and the issuance of revenue bonds in connection with the project, the local government shall determine:
(1) the amount necessary in each year to pay the principal of and the interest on the first bonds proposed to be issued to finance the project;
(2) the amount necessary to be paid each year into any reserve funds that the local government may deem advisable to establish in connection with the retirement of the proposed bonds and the maintenance of the project; and
(3) the estimated cost of maintaining the project in good repair and keeping it properly insured unless the terms under which the project is to be financed provide that the user shall maintain the project and carry all proper insurance with respect to the project.
B. The determination and findings of the local government required to be made by Subsection A of this section shall be set forth in the proceedings under which the proposed revenue bonds are to be issued; but the foregoing amounts need not be expressed in dollars and cents in the financing agreement and proceedings under which the bonds are authorized to be issued.
History:
Laws 1979, ch. 391, § 39; 2018, ch. 60, § 36.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, made technical changes, and replaced "governing body" with "local government" throughout the section.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-40 - Revenue bonds; financing of project.

Prior to the issuance of any revenue bonds authorized by the Redevelopment Bonding Law [3-60A-26 to 3-60A-46 NMSA 1978], the local government shall enter into a financing agreement with respect to the project with a user providing for payment to the local government of revenue upon the basis of determinations and findings that the revenue will be sufficient to pay the principal of and interest on the bonds issued to finance the project, to build up and maintain any reserves deemed advisable by the local government in connection with the project and to pay the costs of maintaining the project in good repair and keeping it properly insured unless the financing agreement obligates the user to pay for the maintenance of and insurance on the project.
History:
Laws 1979, ch. 391, § 40; 2018, ch. 60, § 37.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, made technical changes, and replaced "municipality" and "governing body" with "local government" throughout the section.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-41 - Option to purchase.

A. A lease may grant the user of a project an option to purchase all or a part of the project at a stipulated purchase price or at a price to be determined upon appraisal as is provided in the lease.
B. The option may be exercised at a time as the lease may provide.
C. The local government and the user may agree and provide in the lease that all or a part of the rentals paid by the user prior to and at the time of the exercise of the option shall be applied toward the purchase price and shall be in full or partial satisfaction of the purchase price.
History:
Laws 1979, ch. 391, § 41; 2018, ch. 60, § 38.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, and made technical changes throughout the section; in Subsection C, after "The", deleted "municipality" and added "local government".
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-42 - Revenue bonds; refunding.

A. Any revenue bonds issued under the provisions of the Redevelopment Bonding Law [3-60A-26 to 3-60A-46 NMSA 1978] and at any time outstanding may at any time and from time to time be refunded by a local government by the issuance of its refunding bonds in such amount as the local government may deem necessary to refund the principal of the bonds to be so refunded, any unpaid interest on the bonds and any premiums and incidental expenses necessary to be paid in connection with the bonds.
B. Any refunding may be effected, whether the bonds to be refunded have matured or shall thereafter mature, either by sale of the refunding bonds and the application of the proceeds, directly or indirectly, to the payment of the bonds to be refunded or by exchange of the refunding bonds for the bonds to be refunded, but the holders of any bonds to be so refunded shall not be compelled, without their consent, to surrender their bonds for payment or exchange prior to the date on which they are payable by maturity date, option to redeem or otherwise or if they are called for redemption prior to the date on which they are by their terms subject to redemption by option or otherwise.
C. All refunding bonds issued under authority of the Redevelopment Bonding Law to refund revenue bonds shall be payable solely from revenues out of which bonds to be refunded are payable or from revenues out of which bonds of the same character may be made payable under the Redevelopment Bonding Law or any other law in effect at the time of the refunding.
History:
Laws 1979, ch. 391, § 42; 2018, ch. 60, § 39.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, and made technical changes throughout the section; in Subsection A, replaced "municipality" and "governing body" with "local government" throughout the subsection.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-43 - Revenue bonds; application of proceeds.

A. The proceeds from the sale of any revenue bonds shall be applied only for the purpose for which the bonds were issued, and, if for any reason any portion of the proceeds are not needed for the purpose for which the bonds were issued, the unneeded portion of the proceeds shall be applied to the payment of the principal of or the interest on the bonds.
B. The cost of acquiring any project shall be deemed to include the actual cost of acquiring a site and the cost of the construction of any part of a project that may be constructed, including architects' and engineers' fees, the purchase price of any part of a project that may be acquired by purchase and all expenses in connection with the authorization, sale and issuance of the bonds to finance the acquisition and any costs incurred by the local government.
History:
Laws 1979, ch. 391, § 43; 2018, ch. 60, § 40.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, and made technical changes throughout the section; in Subsection B, after "costs incurred by the", deleted "municipality" and added "local government".
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-44 - No payment by local government.

A. No local government or public body shall pay out of its general fund or otherwise contribute any part of the costs of acquiring a project and, unless specifically acquired for uses of the character described in the Redevelopment Bonding Law [3-60A-26 to 3-60A-46 NMSA 1978] or unless the land is determined by the governing body to be no longer necessary for other municipal purposes or purposes of a public body, shall not use land already owned by the local government or public body or in which the local government or public body has an equity for the construction thereon of a project or any part thereof.
B. The entire cost of acquiring any project shall be paid out of the proceeds from the sale of the revenue bonds, but this provision shall not be construed to prevent a local government or public body from accepting donations of property to be used as a part of any project or money to be used for defraying any part of the cost of any project.
History:
Laws 1979, ch. 391, § 44; 2018, ch. 60, § 41.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties; replaced "municipality" with "local government" throughout the section.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-45 - No local government operation.

A. When all principal of, interest on and any prior redemption premium due in connection with the revenue bonds issued for a project leased to a user have been paid in full and in the event the option to purchase or option to renew the lease, if any, contained in the lease has not been exercised as to all of the property contained in the project, the lease shall terminate and the local government shall sell the remaining property or devote the property to local government purposes other than manufacturing, commercial or industrial.
B. Any sale that is not made pursuant to the exercise of an option to purchase by the user of a project shall be conducted in the same manner as is then provided by law governing the issuer's sale of surplus property.
History:
Laws 1979, ch. 391, § 45; 2018, ch. 60, § 42.
ANNOTATIONS
The 2018 amendment,
effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, made technical changes, and replaced "municipal" and "municipality" with "local government" throughout the section.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-46 - Limitation of actions.

No action shall be brought questioning the legality of any contract, financing agreement, mortgage, trust indenture, proceeding or bonds executed in connection with any project or improvements authorized by the Redevelopment Bonding Law [3-60A-26 to 3-60A-46 NMSA 1978] on and after thirty days from the effective date of the resolution or ordinance authorizing the issuance of such bonds.
History:
Laws 1979, ch. 391, § 46.
ANNOTATIONS
Cross references.
— For general limitation of action on municipal bonds,
see
37-1-25 NMSA 1978.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-47 - Sufficiency of code.

A. The Metropolitan Redevelopment Code [3-60A-1 to 3-60A-13, 3-60A-14 to 3-60A-48 NMSA 1978], without reference to other statutes of the state, constitutes full authority for the exercise of powers granted herein, including but not limited to the authorization and issuance of bonds under that code.
B. No other act or law with regard to the authorization of issuance of bonds that provides for an election requiring an approval or in any way impeding or restricting the carrying out of the acts authorized in the Metropolitan Redevelopment Code to be done shall be construed as applying to any proceedings taken under or acts done pursuant to that code, except for laws to which reference is expressly made in that code or by necessary implication of that code.
C. The provisions of no other law, either general or local, except as provided in the Metropolitan Redevelopment Code, shall apply to the things authorized to be done pursuant to that code, and no board, agency, bureau, commission or official not designated herein has any authority or jurisdiction over any of the acts authorized in that code to be done, except as otherwise provided by that code.
D. No notice, consent or approval by any public body or officer thereof shall be required as a prerequisite to the sale or issuance of any bonds, the making of any contract or financing agreement or the exercise of any other power under the Metropolitan Redevelopment Code, except as provided herein.
E. The powers conferred by the Metropolitan Redevelopment Code shall be in addition and supplemental to, and not in substitution for, and the limitations imposed by that code shall not affect the powers conferred by any other law.
F. No part of the Metropolitan Redevelopment Code shall repeal or affect any other law or part thereof except to the extent that the provisions of that code are inconsistent with any other law, it being intended that the Metropolitan Redevelopment Code shall provide a separate method of accomplishing its objectives and not an exclusive one; and the Metropolitan Redevelopment Code shall not be construed as repealing, amending or changing any other law except to the extent of such inconsistency.
History:
Laws 1979, ch. 391, § 47.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-48 - Liberal interpretation.

The Metropolitan Redevelopment Code [3-60A-1 to 3-60A-13, 3-60A-14 to 3-60A-48 NMSA 1978] shall be liberally construed to carry out its purposes.
History:
Laws 1979, ch. 391, § 48.
ANNOTATIONS
Severability.
— Laws 1979, ch. 391, § 49, provided for the severability of the act if any part or application thereof is held invalid.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60A - Metropolitan Redevelopment › Section 3-60A-49 - Approval required for issuance of bonds against a state gross receipts tax increment. (Effective July 1, 2024.)

A. In addition to all other requirements of the Metropolitan Redevelopment Code, prior to issuing bonds that are issued in whole or in part against a gross receipts tax increment attributable to the state gross receipts tax within a metropolitan redevelopment area and before a distribution attributable to the state gross receipts tax is made pursuant to Section 11 [7-1-6.71 NMSA 1978] of this 2023 act, the New Mexico finance authority shall review the proposed issuance of the bonds and determine that the proceeds of the bonds will be used for a metropolitan redevelopment project in accordance with the area's metropolitan redevelopment plan and present the proposed issuance of the bonds to the legislature for approval.
B. The issuance of the bonds and the maximum amount of bonds to be issued shall be specifically authorized by law.
History:
Laws 2023, ch. 112, § 6.
ANNOTATIONS
Effective dates.
— Laws 2023, ch. 112, § 15 made Laws 2023, ch. 112, § 6 effective July 1, 2024.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60B - Main Street › Section 3-60B-1 - Short title.

Chapter 3, Article 60B NMSA 1978 may be cited as the "Main Street Act".
History:
Laws 1985, ch. 88, § 1; 2013, ch. 60, § 1; 2013, ch. 62, § 1.
ANNOTATIONS
The 2013 amendment,
effective June 14, 2013, added the NMSA chapter and article for the Main Street Act; and at the beginning of the sentence, deleted "This act" and added "Chapter 3, Article 60B NMSA 1978".
Laws 2013, ch. 60, § 1 and Laws 2013, ch. 62, § 1 enacted identical amendments to this section. The section was set out as amended by Laws 2013, ch. 62, § 1.
See
12-1-8 NMSA 1978.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60B - Main Street › Section 3-60B-2 - Purpose.

The purpose of the Main Street Act is to provide for the revitalization of central business districts in New Mexico communities based on the preservation and rehabilitation of existing structures of unique historical and architectural character and the development of progressive marketing and management techniques as an economic development strategy for local governments.
History:
Laws 1985, ch. 88, § 2.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60B - Main Street › Section 3-60B-3 - Definitions.

As used in the Main Street Act:
A. "program" means the state main street program developed in conjunction with the national trust for historic preservation; and
B. "coordinator" means the person responsible for coordinating the program and state and federal activities relevant to the program.
History:
Laws 1985, ch. 88, § 3.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60B - Main Street › Section 3-60B-4 - Main street program; created; coordinator; powers and duties.

A. There is created the "main street program" in the economic development department. The secretary of economic development shall employ a coordinator to oversee the program.
B. The coordinator shall:
(1) carry out state responsibilities pursuant to contract with the national main street center of the national trust for historic preservation;
(2) coordinate activities of the program in consultation with the historic preservation division of the cultural affairs department;
(3) advise the New Mexico community development council on the development of criteria for requests for proposals and selection of local government grantees for the program to be funded through community development block grants;
(4) monitor the progress of main street projects;
(5) assist local main street project managers;
(6) assist in the development of the frontier communities program; and
(7) perform other duties necessary to carry out the provisions of the Main Street Act.
History:
Laws 1985, ch. 88, § 4; 1989, ch. 163, § 1; 1991, ch. 21, § 8; 2013, ch. 60, § 2; 2013, ch. 62, § 2.
ANNOTATIONS
Cross references.
— For New Mexico community development council,
see
11-6-4 NMSA 1978.
The 2013 amendment,
effective June 14, 2013, created the frontier communities program; and added Paragraph (6) of Subsection B.
Laws 2013, ch. 60, § 2 and Laws 2013, ch. 62, § 2, both effective June 14, 2013, enacted identical amendments to this section. The section was set out as amended by Laws 2013, ch. 62, § 2.
See
12-1-8 NMSA 1978.
The 1991 amendment,
effective March 27, 1991, in Subsection A, deleted "and tourism" following "development" in the first sentence and substituted "the economic development department" for "economic development and tourism" in the second sentence.
The 1989 amendment,
effective July 1, 1989, in Subsection A, substituted "economic development and tourism department" for "office of the lieutenant governor" in the first sentence and substituted "secretary of economic development and tourism" for "lieutenant governor" in the second sentence; and deleted "the economic development and tourism department and" following "with" in Subsection B(2).
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60C - Main Street Revolving Loan › Section 3-60C-1 - Short title.

Chapter 3, Article 60C NMSA 1978 may be cited as the "Main Street Revolving Loan Act".
History:
Laws 2007, ch. 103, § 1; 2009, ch. 185, § 1.
ANNOTATIONS
The 2009 amendment,
effective June 19, 2009, changed the reference to the act to the chapter and article of NMSA 1978.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60C - Main Street Revolving Loan › Section 3-60C-2 - Purpose.

The purpose of the Main Street Revolving Loan Act is to provide owners of eligible properties with low-cost financial assistance, through the creation of a self-sustaining revolving loan program, in the restoration, rehabilitation and repair of those properties if they meet certain eligibility criteria and would contribute substantially to the state's economic well-being and to a sound and proper balance between preservation and development.
History:
Laws 2007, ch. 103, § 2.
ANNOTATIONS
Effective dates.
— Laws 2007, ch. 103, contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60C - Main Street Revolving Loan › Section 3-60C-3 - Definitions.

As used in the Main Street Revolving Loan Act:
A. "committee" means the main street revolving loan committee;
B. "division" means the historic preservation division of the cultural affairs department;
C. "eligible property" means a site, structure, building or object that is subject to the Main Street Act or otherwise found pursuant to rule of the committee to merit preservation pursuant to the Main Street Revolving Loan Act;
D. "fund" means the main street revolving loan fund;
E. "lending institution" means a bank, savings and loan association, credit union or nonprofit organization with lending programs as part of its bylaws; and
F. "property owner" means the sole owner, joint owner, owner in partnership or an owner of a leasehold interest with a term of five years or longer of an eligible property.
History:
Laws 2007, ch. 103, § 3; 2009, ch. 185, § 2.
ANNOTATIONS
The 2009 amendment,
effective June 19, 2009, added Subsection E.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60C - Main Street Revolving Loan › Section 3-60C-4 - Main street revolving loan committee; committee and division duties.

A. The "main street revolving loan committee" is created, consisting of six members as follows:
(1) the director of the division or the director's designee;
(2) the coordinator of the main street program under the Main Street Act [3-60B-1 to 3-60B-4 NMSA 1978] or the coordinator's designee;
(3) the chair of the cultural properties review committee or the chair's designee;
(4) the director of the local government division of the department of finance and administration or the director's designee;
(5) a member appointed by the governor with expertise in small loans; and
(6) the chair of the board of directors of friends of New Mexico mainstreet, inc., or the chair's designee.
B. Public members of the committee shall not be paid but shall be reimbursed for per diem and mileage pursuant to the Per Diem and Mileage Act [10-8-1 to 10-8-8 NMSA 1978].
C. The committee shall:
(1) elect a chair and such other officers as it deems necessary;
(2) meet at the call of the chair but no less than four times per year;
(3) by rule, establish eligibility criteria for properties and owners, establish procedures to govern the application outreach and marketing of the loan program and promulgate such other rules as are necessary to carry out the provisions of the Main Street Revolving Loan Act;
(4) after considering the recommendations of the division, make awards of loans or loan subsidies; and
(5) approve expenditures by the division for marketing, managing and administering the loan program.
D. A member of the committee may participate in a meeting of the committee by means of a conference telephone or other similar communications equipment as provided in the Open Meetings Act [Chapter 10, Article 15 NMSA 1978]. Participation by conference telephone or other similar communications equipment shall constitute presence in person at a meeting.
E. The division shall:
(1) review applications for loans and loan subsidies and make recommendations to the committee;
(2) administer all loans and loan subsidies;
(3) serve as staff to the committee; and
(4) report annually to the governor, the legislative finance committee and the legislature on loans made, loan payments received and all other activities conducted pursuant to the Main Street Revolving Loan Act.
History:
Laws 2007, ch. 103, § 4; 2009, ch. 185, § 3.
ANNOTATIONS
The 2009 amendment,
effective June 19, 2009, added Paragraph (5) of Subsection C and added Subsection D.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 60C - Main Street Revolving Loan › Section 3-60C-5 - Main street revolving loan fund.

A. The "main street revolving loan fund" is created in the state treasury. The fund shall consist of appropriations, loan payments, federal funds received for the purpose of making loans, gifts, grants, donations and bequests made to the fund. Income from the fund shall be credited to the fund, and money in the fund shall not revert or be transferred to any other fund at the end of a fiscal year. Money in the fund is appropriated to the committee for the purposes of:
(1) making revolving loans, including related fees, to property owners, with the loans processed and serviced by a lending institution; and
(2) paying division expenses to market, manage and administer the loan program; provided that no more than ten percent of the annual appropriation or other distribution or transfer made to the fund may be used for marketing, managing and administering the loan program.
B. Expenditures from the fund shall be made on warrant of the secretary of finance and administration pursuant to vouchers signed by the director of the division.
History:
Laws 2007, ch. 103, § 5; 2009, ch. 185, § 4.
ANNOTATIONS
The 2009 amendment,
effective June 19, 2009, added Paragraphs (1) and (2) of Subsection A.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 61 - Metropolitan Water Boards › Section 3-61-1 - Power to create metropolitan water board; exercise of power.

In addition to all other powers granted to municipalities and counties, the board of county commissioners of any county and the governing board of any municipality lying totally or partially within the boundaries of that county may, by the passage of identical ordinances that comply with the provisions of Section 3-61-1.1 NMSA 1978, create a metropolitan water board of not more than ten members and grant to that board that portion of the powers of the municipality and the county which pass the identical ordinances necessary to allow the board to:
A. contract for, lease or sublease any supply of water which the municipality and the county in combination with any other entity, public or private, may receive from the United States department of the interior, bureau of reclamation, for municipal, domestic or industrial purposes pursuant to the Reclamation Act of 1902 (32 Stat. 388), the Act of June 13, 1962 (76 Stat. 96) and the Act of April 11, 1956 (70 Stat. 105), all as amended or supplemented;
B. enter into contracts, leases or subleases with other agencies of the United States and the state of New Mexico for purposes related to municipal, industrial and domestic water use, as necessary, pursuant to appropriate federal and state law; and
C. conduct or engage in analysis or studies of the short and long range availability and need of water resources and of ways to accomplish more efficient use of water resources for purposes related to municipal, industrial and domestic water use in order to provide recommendations thereon.
History:
1953 Comp., § 14-63-1, enacted by Laws 1976, ch. 47, § 1; 1977, ch. 304, § 1; 1985, ch. 144, § 1; 1989, ch. 358, § 1.
ANNOTATIONS
Compiler's notes.
— The federal Act of June 13, 1962, referred to in Subsection A, appeared as 43 U.S.C. § 615ii et seq., before being omitted.
Cross references.
— For the federal Reclamation Act of 1902,
see
43 U.S.C. § 371 et seq.
For the federal Act of April 11, 1956,
see
43 U.S.C. § 620 et seq.
The 1989 amendment,
effective June 16, 1989, substituted "ten members" for "seven members" in the introductory paragraph.
Am. Jur. 2d, A.L.R. and C.J.S. references.
— 78 Am. Jur. 2d Waterworks and Water Companies §§ 3 to 12, 23 et seq.
93 C.J.S. Waters § 226 et seq.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 61 - Metropolitan Water Boards › Section 3-61-2 - Approval of budget.

A metropolitan water board created by this act [3-61-1 to 3-61-4 NMSA 1978] may incur reasonable costs and expenses in carrying out its power; the budget of the water board shall be included in the budget of the municipality and the county creating the water board and shall be subject to the approval of the New Mexico department of finance and administration as required by Section 6-6-2 et seq., NMSA 1978, as enacted or amended.
History:
1953 Comp., § 14-63-2, enacted by Laws 1976, ch. 47, § 2.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 61 - Metropolitan Water Boards › Section 3-61-3 - Reservation of powers.

A metropolitan water board may acquire, construct and operate a water utility and to accomplish this purpose shall be deemed a municipality for the purpose of Chapter 62 NMSA 1978 and for Articles 23 and 27 of Chapter 3 NMSA 1978.
History:
1978 Comp., § 3-61-3, enacted by Laws 1985, ch. 144, § 3.
ANNOTATIONS
Repeals and reenactments.
— Laws 1985, ch. 144, § 3 repealed former 3-61-3 NMSA 1978, as enacted by Laws 1976, ch. 47, § 3, and enacted a new section.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 61 - Metropolitan Water Boards › Section 3-61-3.1 - Eminent domain; restriction.

A metropolitan water board shall not use the power of eminent domain or dominant eminent domain to condemn the private property of the primary privately owned water company serving a municipality in the area in which a metropolitan water board has jurisdiction.
History:
1978 Comp., § 3-61-3.1, enacted by Laws 1989, ch. 358, § 3.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 61 - Metropolitan Water Boards › Section 3-61-4 - Limitation on powers of water boards.

No water board created under this act [3-61-1 to 3-61-4 NMSA 1978] shall have the power to enter into a contract which by its terms prohibits any governing body or any local subdivision from abolishing the water board by repeal of the ordinance or ordinances by which the water board was created.
History:
1953 Comp., § 14-63-4, enacted by Laws 1976, ch. 47, § 4.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 63 - Business Improvement Districts › Section 3-63-1 - Short title.

This act [3-63-1 to 3-63-16 NMSA 1978] may be cited as the "Business Improvement District Act".
History:
Laws 1988, ch. 32, § 1.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references.
— 64 Am. Jur. 2d Public Securities and Obligations § 94 et seq.; 70A Am. Jur. 2d Special or Local Assessments § 5 et seq.
63 C.J.S. Municipal Corporations § 1290 et seq.; 64 Municipal Corporations §§ 1902, 1905 et seq.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 63 - Business Improvement Districts › Section 3-63-2 - Purpose of act.

The purpose of the Business Improvement District Act is to:
A. promote and restore the economic vitality of areas within municipalities by allowing the establishment of business improvement districts with the powers to provide for the administration and financing of additional and extended services to businesses within business improvement districts;
B. finance local improvements within those districts; and
C. provide municipalities and entrepreneurs a more flexible and proactive vehicle to collaborate in the revitalization efforts of their downtowns, commercial districts and central business districts.
History:
Laws 1988, ch. 32, § 2; 1999, ch. 204, § 1.
ANNOTATIONS
The 1999 amendment,
effective April 6, 1999, added the subsection designations and added Subsection C.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 63 - Business Improvement Districts › Section 3-63-3 - Definitions.

As used in the Business Improvement District Act:
A. "business" means a fixed place of business within an incorporated municipality where one or more persons are employed or engaged in the purchase, sale, provision or manufacturing of commodities, products or services, and includes the ownership of unoccupied real property that is held for commercial investment purposes, for sale or for lease;
B. "council" means the governing body of the incorporated municipality within which the district is found;
C. "district" means an entity having a contiguous area of clearly defined boundaries within an incorporated municipality in which at least three-quarters of the area is zoned and used for business or mixed commercial or retail use, that is established pursuant to the Business Improvement District Act in which the improvements are to be constructed and upon which the business improvement benefit fee for the costs of the improvements is to be imposed;
D. "improvement" means any one or any combination of services or projects in one or more locations authorized pursuant to the Business Improvement District Act;
E. "management committee" means the district management committee as established pursuant to the Business Improvement District Act;
F. "planning group" means a group appointed by the council to prepare the proposed district plans as provided in the Business Improvement District Act; and
G. "real property" means real property that is used to engage in the purchase, sale, provision or manufacturing of commodities, products or services and unoccupied real property that is held for commercial investment purposes, for sale or for lease.
History:
Laws 1988, ch. 32, § 3.
2023 New Mexico Statutes › Chapter 3 - Municipalities › Article 63 - Business Improvement Districts › Section 3-63-4 - District creation; purpose; improvement; authority.

A district may be created pursuant to the Business Improvement District Act to provide services that shall attempt to restore or promote the economic vitality of the district and the general welfare of the incorporated municipality.
History:
Laws 1988, ch. 32, § 4.