New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 61 - STATE INDEBTEDNESS AND SECURITIES › Part 5 - FINANCING APPROVALS › Section 2.61.5.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Anticipation
				notes" means tax and revenue anticipation notes issued by the state pursuant to
				the Short Term Cash Management Act, sections
				6-12A-1 to
				6-12A-15
				NMSA, and approved by the board pursuant to Section
				6-12A-5
				NMSA 1978.
B. "Board" means the
				state board of finance.
C. "Bonds"
				means a written promise to pay a specified sum of money (par value or principal
				amount) at a specified date or dates in the future (maturity dates) together,
				if applicable, with interest. Bonds include, for these purposes, but without
				limitation, highway debentures, higher education institution system or income
				producing revenue bonds, state fair bonds, game and fish bonds, state park
				bonds, and anticipation notes.
D.
				"Costs of issuance" means all costs incurred by the issuing authority or public
				body incident to the planning and sale of bonds or the execution and delivery
				of exchange agreements. Costs of issuance include but are not limited to
				underwriters' spread, discount, or fees, counsel fees, financial advisor fees,
				credit enhancement costs, rating agency fees, trustee fees, accountant fees,
				printing costs, administrative costs and costs incurred in connection with the
				required public notice process.
E.
				"Exchange agreements" means interest rate swap contracts, forward payment
				conversion contracts, forward supply contracts, futures, or contracts providing
				for payments based on levels of or changes in interest rate, or contracts
				including, without limitation, options, puts or calls to hedge payment, rate,
				price spread or similar exposure.
F. "Financing documents" means any official
				statement, bond purchase agreement, indenture, liquidity facility, credit
				enhancement agreement or other similar agreement associated with the issuance
				of the bonds.
G. "Issuing
				authority" means the state treasurer with respect to anticipation notes and the
				governmental unit in the name of which other bonds are issued. For these
				purposes, issuing authorities include, but are not limited to, the state
				treasurer, state highway commission, state fair commission, regents of state
				universities, fish and game commission, state agencies, counties, and
				municipalities.
H. "Net effective
				interest rate" means the interest rate of public securities, compounded
				semi-annually in arrears necessary to discount the scheduled debt service
				payments of principal and interest to the date of the public securities and to
				the price paid to the public body for the public securities excluding any
				interest accrued to the date of delivery and based upon a year with the same
				number of days as the number of days for which interest is computed on the
				public securities.
I. "Parameters
				resolution" means a resolution of the board approving the issuance of bonds or
				other financing, including but not limited to interest rate exchange
				agreements, by a public body which by law require board approval and setting
				forth the maximum principal amount of the transaction, the maximum interest
				rate and other terms and conditions of the issuance.
J. "Public body" for purposes of any
				financing, including but not limited to bonds or interest rate exchange
				agreements, which by law requires board approval means any municipality, any
				county, any school district, any special district, any H-class county located
				in New Mexico, the New Mexico hospital equipment loan council, state
				institutions enumerated in Section
				6-13-2 NMSA
				1978, the water quality control commission, the board, the New Mexico finance
				authority, and the state.
K.
				"Public body" for purposes of net effective interest rate approval means the
				state or any department, board, agency or instrumentality of the state, any
				county, city, town village, school district, other district, educational
				institution or any other governmental agency or political subdivision of the
				state.
L. "Public securities" means
				any bonds, notes, warrants or other obligations now or hereafter authorized to
				be issued by any public body pursuant to the provisions of any general or
				special law enacted by this legislature, but does not include bonds, notes,
				warrants or other obligations issued pursuant to:
(1) the Industrial Revenue Bond Act, Sections
				3-32-1
				to
				3-32-16
				NMSA 1978;
(2) the County
				Improvement District Act, Sections
				4-55A-1 to
				4-55A-43
				NMSA 1978;
(3) Sections
				3-33-1
				through
				3-33-43
				NMSA 1978;
(4) the Pollution
				Control Revenue Bond Act Sections
				3-59-1 to
				3-59-14
				NMSA 1978;
(5) the County Pollution
				Control Revenue Bond Act, Sections
				4-60-1 to
				4-60-15 NMSA
				1978;
(6) the County Industrial
				Revenue Bond Act, Sections
				4-59-1 to
				4-59-16
				NMSA 1978;
(7) the Metropolitan
				Redevelopment Code, Sections
				3-60A-1
				to
				3-60A-48
				NMSA 1978;
(8) the Supplemental
				Municipal Gross Receipts Tax Act, Sections
				7-19-10 to
				7-19-18
				NMSA 1978;
(9) the Hospital
				Equipment Loan Act, Section
				58-23-1 to
				58-23-32
				NMSA 1978; or,
(10) the New Mexico
				Finance Authority Act, Sections
				6-21-1 to
				6-21-29 NMSA
				1978.