reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-2 - Definitions.

Wherever used in the County Pollution Control Revenue Bond Act, unless a different meaning clearly appears in the context, the following terms, whether used in the singular or plural, shall be given the following respective interpretations:
A. "municipality" means any incorporated municipality in New Mexico;
B. "county" means any organized or incorporated county in New Mexico;
C. "project" means any land, interest in land, building, structure, facility, system, fixture, improvement, appurtenance, machinery, equipment or any combination thereof, or any interest in any one or more of the foregoing located outside a municipality in the county, or in the county and an adjoining county if part of the project is located in the county and the balance of the project is located in an adjoining county at a location contiguous thereto whether or not presently in existence or under construction, used by any individual, partnership, firm, company, corporation (including a public utility), association, trust, estate, political subdivision, state agency or any other legal entity, or its legal representative, agent or assigns, substantially for the reduction, abatement or prevention of pollution, including, but not limited to, the removal of pollutants, contaminants or foreign substances from land, air or water or for treatment of any substance in a processed material which otherwise would cause pollution when such material is used;
D. "governing body" means the board of county commissioners;
E. "property" means any land, improvements thereon, buildings and any improvements thereto, machinery and equipment of any and all kinds, whether or not presently in existence or under construction, necessary to the project or projects or substantially related to the project or projects, operating capital and any other personal properties deemed necessary or substantially related to the project or projects, in connection with the said project or projects;
F. "mortgage" means a mortgage or a mortgage and deed of trust, or the pledge and hypothecation of any assets as collateral security; and
G. "pollution" means any form of environmental pollution including, but not limited to, water pollution, air pollution, pollution caused by solid waste disposal, thermal pollution, radiation, contamination or noise pollution.
History:
1978 Comp., § 4-60-2, enacted by Laws 1978, ch. 181, § 2.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-3 - Legislative intent.

It is the intent of the legislature by the passage of the County Pollution Control Revenue Bond Act to authorize counties to acquire, own, lease or sell projects for the purpose of reducing, abating or preventing pollution, including, but not limited to, removing pollutants, contaminants or foreign substances from land, air or water, or removing or treating any substance in a processed material which otherwise would cause pollution when such material is used, to protect and promote the health, welfare and safety of the citizens of this state and its habitat and wildlife, with the resultant higher level of employment and economic activity and stability. It is not intended hereby to authorize any county itself to operate any manufacturing, industrial or commercial enterprise. The provisions of the County Pollution Control Revenue Bond Act shall be liberally construed in conformity with this intent.
History:
1978 Comp., § 4-60-3, enacted by Laws 1978, ch. 181, § 3.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references.
— 61A Am. Jur. 2d Pollution Control §§ 1890, 1899, 1972 to 1981.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-4 - Additional powers conferred on counties.

In addition to any other powers which it may now have, each county shall have the following powers:
A. to acquire, whether by construction, purchase, gift or lease, one or more projects which shall be located within this state and which shall be located outside a municipality in the county or in the county and an adjoining county if part of the project is located in the county and the balance of the project is located in an adjoining county at a location contiguous thereto;
B. to sell or lease or otherwise dispose of any or all of its projects upon such terms and conditions as the governing body may deem advisable and as shall not conflict with the provisions of the County Pollution Control Revenue Bond Act; and
C. to issue revenue bonds for the purpose of defraying the cost of acquiring, constructing, reconstructing, improving, maintaining, equipping or furnishing any project or projects and to secure the payment of such bonds, all as hereinafter provided. No county shall have the power to operate any project as a business or in any manner except as lessor thereof or seller thereof under an agreement of sale.
History:
1978 Comp., § 4-60-4, enacted by Laws 1978, ch. 181, § 4.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-5 - Bonds issued to finance projects.

Bonds issued by a county under authority of the County Pollution Control Revenue Bond Act shall not be the general obligation of such county within the meaning of Article 9, Sections 12 and 13 of the constitution of New Mexico. The bonds shall be payable solely out of the revenue derived from the project or projects or from the sale or lease of the project or projects to finance which the bonds are issued. Bonds and interest coupons issued under authority of the County Pollution Control Revenue Bond Act shall never constitute an indebtedness of the county within the meaning of any state constitutional provision or statutory limitation, and shall never constitute nor give rise to a pecuniary liability of the county or a charge against its general credit or taxing powers, and such fact shall be plainly stated on the face of each such bond. Such bonds may be executed and delivered at any time, and from time to time, may be in such form and denominations, may be of such tenor, may be in registered or bearer form either as to principal or interest or both, may be payable in such installments and at such time or times not exceeding thirty years from their date, may be payable at such place or places, may bear interest at such rate or rates, payable at such place or places and evidenced in such manner, and may contain such provisions not inconsistent herewith, all as shall be provided in the resolution and proceedings of the governing body whereunder the bonds shall be authorized to be issued. Any bonds issued under the authority of the County Pollution Control Revenue Bond Act may be sold at public or private sale in such manner and from time to time as may be determined by the governing body to be most advantageous, and the county may pay all expenses, attorneys', engineering and architects' fees, premiums and commissions which the governing body may deem necessary or advantageous in connection with the authorization, sale and issuance thereof. All bonds issued under the authority of the County Pollution Control Revenue Bond Act and all interest coupons applicable thereto shall be construed to be negotiable.
History:
1978 Comp., § 4-60-5, enacted by Laws 1978, ch. 181, § 5.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-6 - Security for bonds.

The principal of and interest on any bonds issued under the authority of the County Pollution Control Revenue Bond Act shall be secured by a pledge of the revenues out of which such bonds shall be made payable, may be secured by a mortgage covering all or any part of the project or projects from which the revenues so pledged may be derived and may be secured by a pledge of the lease or the agreement of sale of such project or projects. The resolution and proceedings under which such bonds are authorized to be issued or any such mortgage may contain other agreements and provisions including, without limiting the generality of the foregoing, provisions respecting the fixing and collection of all revenues from any project or projects covered by such proceedings or mortgage, the terms to be incorporated in the lease of such project or projects, the maintenance and insurance of such project or projects, the creation and maintenance of special funds from the revenues from such project or projects and the rights and remedies available in event of default to the bondholders or to the trustee under a mortgage, all as the governing body shall deem advisable and as shall not be in conflict with the provisions of the County Pollution Control Revenue Bond Act; provided, that in making any such agreements or provisions, a county shall not have the power to obligate itself except with respect to the project or projects and the application of the revenues therefrom and shall not have the power to incur a pecuniary liability or a charge upon its general credit or against its taxing powers. The resolution and proceedings authorizing any bonds hereunder and any mortgage securing such bonds may provide the procedure and remedies in the event of default in payment of the principal of or the interest on such bonds or in the performance of any agreement. No breach of any such agreement shall impose any pecuniary liability upon a county or any charge upon its general credit or against its taxing powers.
History:
1978 Comp., § 4-60-6, enacted by Laws 1978, ch. 181, § 6.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-7 - Requirements respecting lease or agreement of sale.

Prior to the leasing, selling or other disposition of any project or projects, the governing body shall determine and find the following:
A. the amount necessary in each year to pay the principal of and the interest on the bonds proposed to be issued to finance part or all of the cost of such project or projects; and
B. the amount necessary to be paid each year into any reserve fund which the governing body may deem it advisable to establish in connection with the retirement of the proposed bonds and maintenance of the project or projects; and in the case of an agreement of lease or sale unless the terms under which each such project is to be leased or sold provide that the lessee or the purchaser shall maintain the project or projects and carry all proper insurance with respect thereto, the estimated cost of maintaining the project or projects in good repair and keeping it or them properly insured. The determinations and findings of the governing body required to be made in the preceding sentence shall be made and set forth in a resolution constituting part of the proceedings under which the proposed bonds are to be issued; and prior to the issuance of such bonds, the county shall lease or sell the project or projects to a lessee or purchaser under an agreement conditioned upon completion of the project or projects and providing for payment to the county of such rentals or payments as, upon the basis of such determinations and findings, will be sufficient:
(1) to pay the principal of and interest on the bonds issued to finance the project or projects;
(2) to build up and maintain any reserve deemed by the governing body to be advisable in connection therewith; and
(3) to pay the costs of maintaining the project or projects in good repair and keeping it or them properly insured, unless the agreement of lease or sale obligates the lessee or purchaser to pay for the maintenance and insurance of the project or projects.
History:
1978 Comp., § 4-60-7, enacted by Laws 1978, ch. 181, § 7.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-9 - Use of proceeds from sale of bonds.

The proceeds from the sale of any bonds issued under authority of the County Pollution Control Revenue Bond Act shall be applied only for the purpose for which the bonds were issued; provided, that any accrued interest and premiums received in any such sale shall be applied to the payment of the principal of or the interest on the bonds sold; and provided further, that if for any reason any portion of such proceeds shall not be needed for the purpose for which the bonds were issued, then such balance of said proceeds shall be applied to the payment of the principal of or the redemption premium, if any, and interest on said bonds, and provided further, that any portion of the proceeds from the sale of said bonds, including refunding bonds, or any accrued interest and premium received in any such sale, may, in the event the money currently will not be needed or cannot be effectively used to the advantage of the county for the purposes herein provided, be invested, in accordance with the procedures and subject to any restrictions established by the resolution and other proceedings under which the bonds are issued, in any securities without limitation except as expressly provided to the contrary in Section 8 [4-60-8 NMSA 1978] of the County Pollution Control Revenue Bond Act, if such investment will not interfere with the use of such funds for the primary purposes as herein provided. The cost of acquiring any project or projects shall be deemed to include the following:
A. the actual cost of the construction of any part of a project or projects which shall be constructed, including architects', attorneys' and engineers' fees;
B. the purchase price of any part of a project or projects that may be acquired by purchase;
C. the actual cost of the extension of any utility to the project site or sites, all expenses in connection with the authorization, sale and issuance of the bonds to finance such acquisition; and
D. the interest on any bonds issued by the same county for the same or any other project or projects for a reasonable time prior to construction, during construction and for not exceeding six months after completion of construction.
History:
1978 Comp., § 4-60-9, enacted by Laws 1978, ch. 181, § 9.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-10 - No contribution by county.

No county shall have the power to pay out of its general funds or otherwise contribute any part of the costs of acquiring a project and shall not have the power to use land already owned by the county, or in which the county has an equity, for construction thereon of a project or any part thereof, unless the county is fully reimbursed for the value of the land as may be determined by a current appraisal, or unless the county leases the land at an annual rental fee of not less than five percent of the appraised value. The entire cost of acquiring any project must be paid out of the proceeds from the sale of bonds issued under the authority of the County Pollution Control Revenue Bond Act; provided, that this provision shall not be construed to prevent a county 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:
1978 Comp., § 4-60-10, enacted by Laws 1978, ch. 181, § 10.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-11 - Bonds made legal investments.

Bonds issued under the provisions of the County Pollution Control Revenue Bond Act shall be legal investments for savings banks and insurance companies organized under the laws of this state and shall be eligible for pledging as collateral for public deposits.
History:
1978 Comp., § 4-60-11, enacted by Laws 1978, ch. 181, § 11.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-12 - Exemption from taxation.

The bonds authorized by the County Pollution Control Revenue Bond Act and the income from said bonds, all mortgages or other security instrument [instruments] executed as security for said bonds, all lease agreements made pursuant to the provisions hereof and revenue derived from any lease or sale by the county thereof shall be exempt from all taxation by New Mexico or any subdivision thereof.
History:
1978 Comp., § 4-60-12, enacted by Laws 1978, ch. 181, § 12.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-13 - Proceedings for issuance and sale of bonds; no notice or publication required.

Issuance and sale of bonds pursuant to the County Pollution Control Revenue Bond Act shall be authorized by resolution adopted by the governing body of the county issuing said bonds, which resolution shall determine the maximum aggregate principal amount, maximum maturity and maximum interest rate of the bonds to be issued thereunder, and may provide for determinations to be made by resolution or resolutions adopted by said governing body with respect to the issuance of a lesser aggregate principal amount of bonds, the designation or substitution of a trustee for bondholders or depositary or escrow agent for bonds proceeds, the issuance of bonds in one or more series and, with respect to any series of bonds, the principal amount, maturity or maturities, sinking fund provisions, redemption provisions, price or prices which may be at, above or below par, and interest rate or rates of the bonds of such series. The agreement of lease or sale securing the bonds of any series, and the execution and delivery thereof, may be authorized by resolution adopted by said governing body.
No notice, consent or approval by any governmental body or public officer shall be required as a prerequisite to the sale or issuance of any bonds or the making of a mortgage under the authority of the County Pollution Control Revenue Bond Act, except as provided in that act.
History:
1978 Comp., § 4-60-13, enacted by Laws 1978, ch. 181, § 13.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-14 - Construction of act.

Neither the County Pollution Control Revenue Bond Act nor anything herein contained shall be construed as a restriction or limitation upon any powers which a county might otherwise have under any laws of this state, but shall be construed as cumulative; and the County Pollution Control Revenue Bond Act shall not be construed as requiring an election by the voters of a county prior to the issuance of bonds hereunder by such county, and all other laws of the state relative to public contracts and properties shall have no application to projects or bonds issued under the provisions of the County Pollution Control Revenue Bond Act.
History:
1978 Comp., § 4-60-14, enacted by Laws 1978, ch. 181, § 14.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 60 - County Pollution Control Revenue Bonds › Section 4-60-15 - Limitation.

Nothing contained in the County Pollution Control Revenue Bond Act shall be construed as repealing or amending the Pollution Control Revenue Bond Act [3-59-1 to 3-59-14 NMSA 1978].
History:
1978 Comp., § 4-60-15, enacted by Laws 1978, ch. 181, § 16.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 61 - Small Counties Assistance › Section 4-61-1 - Short title.

Chapter 4, Article 61 NMSA 1978 may be cited as the "Small Counties Assistance Act".
History:
Laws 1982, ch. 44, § 1; 2003, ch. 217, § 1.
ANNOTATIONS
The 2003 amendment,
effective June 20, 2003, substituted "Chapter 4, Article 61 NMSA 1978" for "Sections 1 through 3 of this act" at the beginning of the section.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 62 - Revenue Bonds › Section 4-62-1.1 - Definitions.

As used in Chapter 4, Article 62 NMSA 1978:
A. "bond" means any obligation of a county issued under Chapter 4, Article 62 NMSA 1978, whether designated as a bond, note, loan, warrant, debenture, lease-purchase agreement or other instrument evidencing an obligation of a county to make payments;
B. "gasoline tax revenue" means the revenue from that portion of the gasoline tax distributed to the county pursuant to Sections 7-1-6.9 and 7-1-6.26 NMSA 1978;
C. "gasoline tax revenue bonds" means the bonds authorized by Subsection C of Section 4-62-1 NMSA 1978;
D. "gross receipts tax revenue" means the revenue attributable to the county gross receipts tax transferred to the county pursuant to Section 7-1-6.13 NMSA 1978 and any distribution made pursuant to Section 7-1-6.16 NMSA 1978;
E. "gross receipts tax revenue bonds" means the bonds authorized by Subsection B of Section 4-62-1 NMSA 1978;
F. "PILT revenue" means revenue received by a county from the federal government as payments in lieu of taxes;
G. "pledged revenue" means the revenue, net income or net revenue authorized to be pledged to the payment of particular revenue bonds as specifically provided in Section 4-62-1 NMSA 1978;
H. "project revenues" means the net revenues of revenue-producing projects that may be pledged to project revenue bonds pursuant to Subsection E of Section 4-62-1 NMSA 1978;
I. "public project" means "public project" as defined in Subsection E of Section 6-21-3 NMSA 1978;
J. "utility" means a water, wastewater, sewer, gas or electric utility or joint utility servicing the public; and
K. "utility revenue bonds" or "joint utility revenue bonds" means the bonds authorized by Subsection D of Section 4-62-1 NMSA 1978.
History:
1978 Comp., § 4-62-1.1, enacted by Laws 2019, ch. 274, § 5.
ANNOTATIONS
Effective dates.
— Laws 2019, ch. 274, § 17 made Laws 2019, ch. 274, § 5 effective July 1, 2019.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 62 - Revenue Bonds › Section 4-62-2 - Use of proceeds of bond issue.

It is unlawful to divert, use or expend any money received from the issuance of bonds for any purpose other than the purpose for which the bonds were issued.
History:
1978 Comp., § 4-62-2, enacted by Laws 1992, ch. 95, § 2.
ANNOTATIONS
Repeals and reenactments.
— Laws 1992, ch. 95, § 2 repealed former 4-62-2 NMSA 1978, as enacted by Laws 1983, ch. 158, § 2, relating to procedure for issuing bonds, and enacted a new section, effective May 20, 1992.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 62 - Revenue Bonds › Section 4-62-3 - Revenue bonds; terms.

County revenue bonds:
A. may have interest, appreciated principal value or any part thereof payable at intervals or at maturity as may be determined by the governing body;
B. may be subject to prior redemption at the county's option at such time and upon such terms and conditions with or without the payment of a premium as may be determined by the governing body;
C. may mature at any time not exceeding fifty years after the date of issuance, except county revenue bonds issued for reconstructing, resurfacing or repairing existing streets, which may mature at any time not exceeding twenty years after the date of issuance;
D. may be serial in form and maturity or may consist of one bond payable at one time or in installments or may be in such other form as may be determined by the governing body;
E. shall be sold for cash at, above or below par and at a price that results in a net effective interest rate that does not exceed the maximum permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]; and
F. may be sold at public or negotiated sale.
History:
1978 Comp., § 4-62-3, enacted by Laws 1992, ch. 95, § 3; 1995, ch. 141, § 9.
ANNOTATIONS
The 1995 amendment,
effective April 5, 1995, deleted "in the ordinance" following "body" at the end of Subsection A, and substituted "determined by the governing body" for "provided by ordinance" following "be" at the end of Subsection B.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 62 - Revenue Bonds › Section 4-62-3.1 - Exemption from taxation.

The bonds authorized by Chapter 4, Article 62 NMSA 1978 and the income from the bonds or any mortgages or other instruments executed as security for the bonds shall be exempt from all taxation by the state or any political subdivision of the state.
History:
Laws 2001, ch. 126, § 2.
ANNOTATIONS
Effective dates.
— Laws 2001, ch. 126 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2001, 90 days after adjournment of the legislature.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 62 - Revenue Bonds › Section 4-62-5 - Revenue bonds not general county obligations; authentication.

A. Revenue bonds or refunding revenue bonds issued as authorized in Chapter 4, Article 62 NMSA 1978 are:
(1) not general obligations of the county; and
(2) collectible only from the proper pledged revenues, and each bond shall state that it is payable solely from the proper pledged revenues and that the bondholders may not look to any other county fund for the payment of the interest and principal of the bonds.
B. The bonds shall be executed by the chairman of the governing body and treasurer or the clerk and may be authenticated by any public or private transfer agent or registrar, or its successor, named or otherwise designated by the governing body. The bonds may be executed as provided under the Uniform Facsimile Signature of Public Officials Act [6-9-1 to 6-9-6 NMSA 1978], and the coupons, if any, shall bear the facsimile signature of the treasurer of the county.
History:
1978 Comp., § 4-62-5, enacted by Laws 1992, ch. 95, § 5.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 62 - Revenue Bonds › Section 4-62-6 - Revenue bonds; mandatory rates for non-utility revenue-producing projects; mandamus; impairment of payment.

A. The governing body of any county issuing non-utility revenue bonds as authorized in Chapter 4, Article 62 NMSA 1978 shall establish rates for services rendered by or use of the applicable non-utility revenue-producing project to provide revenue sufficient to pay the following or, where applicable to a revenue-producing project, to enter into leases or other agreements sufficient to provide revenues that are sufficient to pay the following:
(1) all reasonable expenses of operation; and
(2) all principal of and interest on the revenue bonds as those amounts come due.
B. In the event the governing body fails or refuses to establish rates for the applicable non-utility revenue-producing project, or to enter into a lease or other agreement where applicable to a non-utility revenue-producing project, any bondholder may apply to the district court for a mandatory order requiring the governing body to establish rates or to enter into such applicable leases or agreements that will provide revenues adequate to meet the requirements of this section.
C. Any law that authorized the pledge of any or all of the pledged revenues to the payment of any revenue bonds issued pursuant to Chapter 4, Article 62 NMSA 1978 or that affects the pledged revenues, or any law supplemental thereto or otherwise appertaining thereto, shall not be repealed or amended or otherwise modified in such a manner as to impair any outstanding revenue bonds, unless such outstanding revenue bonds have been discharged in full or provision has been fully made therefor.
History:
1978 Comp., § 4-62-6, enacted by Laws 1992, ch. 95, § 6.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 62 - Revenue Bonds › Section 4-62-7 - Revenue bonds; refunding authorization.

A. Any county having issued revenue bonds as authorized in Sections 4-62-1 through 4-62-6 NMSA 1978 or pursuant to any other laws enabling the governing body of any county having issued revenue bonds payable only out of the pledged revenue may issue refunding revenue bonds for the purpose of refinancing, paying and discharging all or any part of the outstanding bonds of any outstanding issues:
(1) for the acceleration, deceleration or other modification of the payment of such obligations, including without limitation any capitalization of any interest thereon in arrears or about to become due for any period not exceeding one year from the date of the refunding bonds;
(2) for the purpose of reducing interest costs or effecting other economies;
(3) for the purpose of modifying or eliminating restrictive contractual limitations pertaining to the issuance of additional bonds, otherwise concerning the outstanding bonds or to any facilities relating thereto; or
(4) for any combination of such purposes.
B. The county may pledge irrevocably for the payment of interest and principal on refunding bonds the appropriate pledged revenues that may be pledged to an original issue of bonds as provided in Section 4-62-1 NMSA 1978. This section permits the pledge of revenues from one source to the payment of bonds that refund bonds payable from a different source of revenue.
C. Bonds for refunding and bonds for any purpose permitted by Section 4-62-1 NMSA 1978 may be issued separately or issued in combination in one or more series.
History:
1978 Comp., § 4-62-7, enacted by Laws 1992, ch. 95, § 7; 1998, ch. 10, § 1.
ANNOTATIONS
The 1998 amendment,
effective February 19, 1998, in Subsection B, deleted "Nothing in" from the beginning of the second sentence and made a minor capitalization change.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 62 - Revenue Bonds › Section 4-62-9 - Refunding revenue bonds; terms.

County refunding revenue bonds:
A. may have interest, appreciated principal value or any part thereof payable at intervals or at maturity as may be determined by the governing body;
B. may be subject to prior redemption at the county's option at such time and upon such terms and conditions with or without the payment of a premium as may be determined by the governing body;
C. may be serial in form and maturity or may consist of a single bond payable in one or more installments or may be in such other form as may be determined by the governing body; and
D. shall be exchanged for the bonds and any matured unpaid interest being refunded at not less than par or sold at public or negotiated sale at, above or below par and at a price that results in a net effective interest rate that does not exceed the maximum permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978].
History:
1978 Comp., § 4-62-9, enacted by Laws 1992, ch. 95, § 9; 1995, ch. 141, § 12.
ANNOTATIONS
The 1995 amendment,
effective April 5, 1995, deleted "in the ordinance" following "body" at the end of Subsection A, and substituted "determined by the governing body" for "provided by ordinance" in Subsection B.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 62 - Revenue Bonds › Section 4-62-10 - Refunding revenue bonds; ordinance; resolution.

A. At any regular or special meeting called for the purpose of issuing refunding revenue bonds, the governing body by a majority vote of all the members of the governing body may adopt an ordinance authorizing the issuance of the refunding revenue bonds.
B. At any regular or special meeting called for the purpose of issuing and selling refunding revenue bonds to the New Mexico finance authority, the governing body by an affirmative vote of a majority of all the members of the governing body may adopt a resolution authorizing issuance and sale of the refunding revenue bonds to the New Mexico finance authority pursuant to Subsection C of Section 4-62-4 NMSA 1978.
History:
1978 Comp., § 4-62-10, enacted by Laws 1992, ch. 95, § 10; 1995, ch. 141, § 13.
ANNOTATIONS
The 1995 amendment,
effective April 5, 1995, designated the existing language as Subsection A and added Subsection B.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 1 - Ambulance Service › Section 5-1-1 - Political subdivisions; ambulance service. (Effective July 1, 2024.)

A. A municipality or county may:
(1) provide ambulance service to transport sick or injured persons to a place of treatment in the absence of an established ambulance service only as authorized by the department of transportation;
(2) contract with other political subdivisions or with private ambulance services for the operation of its ambulance service;
(3) lease ambulances and other equipment necessary to the operation of its ambulance service;
(4) in the course of its operation of an ambulance service, proceed to the scene of a disaster beyond its subdivision boundaries when requested, providing no local established ambulance service is available or, if one exists, such local ambulance service deems its capacity inadequate or insufficient for emergency transportation of the disaster victims; and
(5) transport sick or injured persons from the subdivision boundaries to any place of treatment.
B. No personal action shall be maintained in any court of this state against any member or officer of a political subdivision for any tort or act done, or attempted to be done, when done by the authority of the political subdivision or in execution of its orders under this section. In all such cases, political subdivisions shall be responsible. Any member or officer of the political subdivision may plead the provisions of this section in bar of such action whether it is now pending or hereafter commenced.
History:
1953 Comp., § 12-15-1, enacted by Laws 1967, ch. 167, § 1; recompiled as 1953 Comp., § 12-27-1, by Laws 1972, ch. 51, § 9; Laws 1974, ch. 82, § 7; 2023, ch. 100, § 6.
ANNOTATIONS
The 2023 amendment,
effective July 1, 2024, removed a reference to the state corporation commission due to the transfer of certain powers and duties to the department of transportation, and made technical changes; and redesignated former Subsections A through E as Paragraphs A(1) through A(5), respectively, and in Paragraph A(1), after "authorized by the", deleted "state corporation commission" and added "department of transportation"; and redesignated former Subsection F as Subsection B.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 2 - Television Translator Stations › Section 5-2-1 - Television translator stations; construction by political subdivisions.

Any county or municipality in the state is authorized to appropriate annually from its general fund a reasonable sum for the acquisition, construction, improvement or maintenance of translator stations for the purpose of receiving and transmitting television broadcasting signals.
History:
1953 Comp., § 11-6-41, enacted by Laws 1975, ch. 311, § 1.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 2 - Television Translator Stations › Section 5-2-2 - Appropriation prohibited.

No county or municipality shall appropriate from its general fund to acquire, improve or maintain any translator station originally or hereafter constructed or presently or hereafter licensed and maintained by a commercial television station.
History:
1953 Comp., § 11-6-42, enacted by Laws 1975, ch. 311, § 2.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-1 - Definitions.

The following terms wherever used or referred to in this act [5-3-1 to 5-3-8 NMSA 1978] shall have the following meanings unless a different meaning clearly appears from the context.
A. The term "municipality" shall mean any incorporated county, city, town or village in the state of New Mexico, having a population of at least five thousand.
B. The term "auditorium" shall mean a public auditorium or building of a similar nature used for general civic purposes.
C. The term "bonds" shall mean bonds, notes, temporary bonds, interim certificates, negotiable instruments or any other evidences of indebtedness of any nature whatsoever.
History:
Laws 1935, ch. 51, art. 1, § 1; 1941 Comp., § 6-301; 1953 Comp., § 6-3-1.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references. —
56 Am. Jur. 2d Municipal Corporations, Counties, and Other Political Subdivisions § 543.
Exemption from taxation of municipally owned or operated stadium, auditorium, and similar property, 16 A.L.R.2d 1376.
Maintenance of auditorium, community recreational center, building, or the like, by municipal corporation as governmental or proprietary function for purposes of tort liability, 47 A.L.R.2d 544.
20 C.J.S. Counties §§ 145 to 149; 63 C.J.S. Municipal Corporations §§ 950 to 972.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-3 - [Auditorium revenue bonds; mortgage or lien to secure payment.]

Whenever it shall be declared necessary by the governing body, by ordinance duly adopted, as hereinafter provided, municipalities are hereby authorized to make and issue revenue bonds, payable solely out of the net income to be derived from the operation of an auditorium, and to pledge irrevocably, such income to the payment thereof, and to execute a mortgage or other lien upon the auditorium premises to secure the payment of said bonds.
History:
Laws 1935, ch. 51, art. 1, § 3; 1941 Comp., § 6-303; 1953 Comp., § 6-3-3.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Section contemplates special fund
arising solely from sources separate and apart from general taxation and that the site upon which the auditorium would rest should not be acquired by purchase or otherwise with funds arising in whole or in part from general taxation.
Wiggs v. City of Albuquerque
, 1952-NMSC-013, 56 N.M. 214, 242 P.2d 865.
"Debt" within constitutional prohibition created.
— The mortgage lien on municipal auditoriums declared by this section creates a "debt" within the prohibition found in N.M. Const., art. IX, § 12, except as the creation of same may have received an approving vote by referendum.
Wiggs v. City of Albuquerque
, 1952-NMSC-013, 56 N.M. 214, 242 P.2d 865.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-4 - [Terms and conditions of bonds; sale.]

Revenue bonds issued under the provisions of this act [5-3-1 to 5-3-8 NMSA 1978] shall bear interest at not to exceed four and one-half (4 ) per cent per annum, payable annually or semiannually, shall be payable at the option of such municipality at the end of ten years from date thereof; and due by their terms in not more than twenty years from date thereof; as determined by the municipality; shall be serial in form and maturity and numbered from one upward, consecutively, and shall be sold for cash, at not less than par, and at either public or private sale.
History:
Laws 1935, ch. 51, art. 1, § 4; 1941 Comp., § 6-304; 1953 Comp., § 6-3-4.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
20 C.J.S. Counties §§ 222 to 225; 64A C.J.S. Municipal Corporations § 1684.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-5 - [Issuance of bonds; execution.]

Governing bodies of municipalities issuing bonds under the provisions of this act [5-3-1 to 5-3-8 NMSA 1978], may authorize the issuance thereof by ordinance adopted by the affirmative vote of two-thirds of all the members of said governing bodies, at either regular or special meeting called for that purpose, wherein the necessity thereof shall be declared and, when issued, shall be signed by the mayor or other executive head and attested by the clerk of said governing body, with the seal of said municipality affixed thereto.
History:
Laws 1935, ch. 51, art. 1, § 5; 1941 Comp., § 6-305; 1953 Comp., § 6-3-5.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
64A C.J.S. Municipal Corporations § 1699.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-6 - [Lease of auditorium by municipality.]

That any municipality shall have power to lease any auditorium from the United States of America, the president of the United States of America, the federal emergency administration, the public works administration or such other federal or state agency or agencies as heretofore or may hereafter be designated or created by the United States or the state of New Mexico, and to make contract or contracts of lease with such agencies for the use, occupation and maintenance of such auditorium at such rental and upon such terms and conditions as shall be agreed upon by the parties.
History:
Laws 1935, ch. 51, art. 1, § 6; 1941 Comp., § 6-306; 1953 Comp., § 6-3-6.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Constitutionality of lending to other governmental agency.
— New Mexico Const., art. IX, § 14, has no application where the lending of credit is under legislative sanction by one subordinate governmental agency to another governmental agency.
Wiggs v. City of Albuquerque
, 1952-NMSC-013, 56 N.M. 214, 242 P.2d 865.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
20 C.J.S. Counties § 148; 63 C.J.S. Municipal Corporations § 1041.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-7 - [Ratification of issuance and sale of bonds by electorate.]

That where any of the federal or state agencies specified in Paragraph 3 of this act purchase bonds from any municipality as defined herein, for the purpose of enabling such municipality to purchase, improve, erect and maintain public auditoriums, whether the said bonds be issued hereunder or under the provisions of any other act, and such federal or state agency requires that the issuance and sale of such bonds shall be thereafter submitted to the people for ratification and approval, the municipality shall have and it hereby is given the power to pledge to such federal or state agency the good faith of the municipality that said municipality will submit to the vote of the people therein at the time and in the manner required by the constitution of New Mexico the ratification and approval of the issuance and sale of such bonds by such municipality.
History:
Laws 1935, ch. 51, art. 1, § 7; 1941 Comp., § 6-307; 1953 Comp., § 6-3-7.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Compiler's notes.
— "Paragraph 3 of this act" evidently refers to Section 6 of the act, compiled as 5-3-6 NMSA 1978.
Intention to purchase bonds necessary to charge discrimination.
— A person who did not suggest that he might become a purchaser of any bond under proposed bond issue could not complain that statute authorizing issuance and sale of revenue bonds to raise funds for building a municipal auditorium was discriminatory.
Wiggs v. City of Albuquerque
, 1952-NMSC-013, 56 N.M. 214, 242 P.2d 865.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
20 C.J.S. Counties § 221; 64A C.J.S. Municipal Corporations § 1664 et seq.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-8 - [Public Works Act not affected.]

Nothing herein contained shall be construed to affect in any way any of the provisions of Chapter 6 of the Laws of 1934.
History:
Laws 1935, ch. 51, art. 1, § 8; 1941 Comp., § 6-308; 1953 Comp., § 6-3-8.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Compiler's notes.
— Laws 1934, ch. 6, referred to in this section, is not compiled in NMSA 1978 since it was enacted to implement the National Industrial Recovery Act which was declared unconstitutional in A.L.A. Schechter Poultry Corp. v. United States, 295 U.S. 495, 55 S. Ct. 837, 79 L. Ed. 1570, 97 A.L.R. 947 (1935).
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-10 - [Use of auditorium.]

Such public auditorium or building shall be used only for public purposes and shall not be leased, occupied or used for commercial purposes.
History:
Laws 1927, ch. 29, § 2; C.S. 1929, § 90-2102; 1941 Comp., § 6-310; 1953 Comp., § 6-3-10.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-11 - Counties authorized to issue bonds and erect public auditoriums.

The board of county commissioners of the several counties in this state having a population of twenty-five thousand are hereby authorized and empowered to issue the bonds of such counties for the purpose of acquiring suitable sites for public auditoriums within their counties, and for the building of such auditoriums. Such public auditoriums are declared to be necessary public buildings.
History:
1941 Comp., § 6-311, enacted by Laws 1941, ch. 101, § 1; 1953 Comp., § 6-3-11; Laws 1955, ch. 254, § 1.
ANNOTATIONS
Generally.
— This section unequivocally and clearly states that only counties having a population in excess of 25,000 are authorized to issue county auditorium bonds. 1953 Op. Att'y Gen. No. 53-5782.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
Auditorium or stadium as public purpose for which public funds may be expended or taxing power exercised, 173 A.L.R. 415.
20 C.J.S. Counties § 218.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-12 - [Application of courthouse building laws.]

The proceedings for calling, holding and canvassing the results of an election to determine whether such bonds are to be issued, the manner of issuance and the terms and provisions of such bonds, the sale thereof, the levy of taxes for the payment thereof, and the manner and time of payment thereof shall all be the same as is now or may hereafter be provided by law with respect to bonds issued for the purpose of building courthouses, and, in general, all of the provisions of law with respect to county courthouse bonds shall, so far as applicable, apply to the bonds herein authorized.
History:
1941 Comp., § 6-312, enacted by Laws 1941, ch. 101, § 2; 1953 Comp., § 6-3-12.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
20 C.J.S. Counties § 221.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-13 - [Federal aid and other donations authorized.]

The respective boards of county commissioners of such counties are authorized and empowered to seek and obtain, if possible, from the United States government, or any department or agency thereof, financial aid and assistance to carry into effect the purposes hereof. Such boards of county commissioners are also authorized and empowered in their discretion to accept gifts and donations of any kind or character from any source whatsoever, including, but not limited to, a site for any such auditorium.
History:
1941 Comp., § 6-313, enacted by Laws 1941, ch. 101, § 3; 1953 Comp., § 6-3-13.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-14 - [Contracting power.]

The boards of county commissioners of the several counties are hereby authorized and empowered to enter into any and all contracts and to do and perform any and all things necessary and proper to carry into effect the provisions hereof.
History:
1941 Comp., § 6-314, enacted by Laws 1941, ch. 101, § 4; 1953 Comp., § 6-3-14.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 5 - Municipalities and Counties › Article 3 - Auditoriums › Section 5-3-15 - [Supervision and control of auditorium.]

Any auditorium constructed pursuant hereto shall be under the supervision and control of the board of county commissioners of the county wherein it is located, and shall be maintained and used for such purposes as the boards of county commissioners may from time to time determine.
History:
1941 Comp., § 6-315, enacted by Laws 1941, ch. 101, § 5; 1953 Comp., § 6-3-15.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
Auditorium: maintenance of auditorium, community recreational center, building or the like by municipal corporation as governmental or proprietary function for purposes of tort liability, 47 A.L.R.2d 544.
20 C.J.S. Counties § 147.