New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 61 - STATE INDEBTEDNESS AND SECURITIES › Part 9 - DETERMINATIONS OF THE STATE BOARD OF FINANCE › Section 2.61.9.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
A. Section
				4-59-15
				NMSA 1978 provides that if any representative of an existing business or
				enterprise located within the boundaries of the county or within five miles of
				the proposed county industrial revenue bond project alleges, in a written
				complaint filed with the county governing body within 15 days of the meeting at
				which an ordinance or resolution authorizing the issuance of county industrial
				revenue bonds is adopted, that the proposed project would directly and
				substantially compete with such an existing business or enterprise located
				within the boundaries of the county or within five miles of the proposed
				project, the bonds in connection with that project shall not be issued until
				the board has determined that the proposed project will not directly or
				substantially compete with an existing business or enterprise located within
				the boundaries of the county or within five miles of the proposed project. The
				board shall conduct a hearing and make a determination within 90 days of
				receiving a request for determination from the county. An existing business or
				enterprise for which county industrial revenues bonds were previously issued by
				the county shall not be entitled to file a complaint pursuant to Section
				4-59-15
				NMSA 1978.
B. As with other matters
				before the board, records submitted to the board pursuant to Section
				4-59-15
				NMSA 1978 and this rule are subject to inspection pursuant to the Inspection of
				Public Records Act, Sections
				14-2-1
				to -12 NMSA 1978, as amended, unless exempted from inspection pursuant to
				Subsection A of Section
				14-2-1
				NMSA 1978.
C. There is no provision
				in law placing the board or its procedures under the Administrative Procedures
				Act, Sections
				12-8-1 to
				-25 NMSA 1978, as amended (see Section
				12-8-23 NMSA
				1978). As such, determinations by the board made pursuant to Sections
				4-59-15
				NMSA 1978 and
				42-2-3 NMSA
				1978 are not adjudicatory proceedings as described in Section
				12-8-2
				NMSA 1978 and may be conducted through administrative hearings, as described
				therein. See
State ex rel. King v. Lyons
, 2011-NMSC-004, 26,
				149 N.M. 330.
D. Section
				42-2-3 NMSA
				1978 provides that the state may acquire, either temporarily or permanently,
				public or privately owned lands, real property or any interests therein,
				including water rights or any easements deemed necessary or desirable for
				present or future public road, street or highway purposes by gift, agreement,
				purchase, exchange, condemnation or otherwise. Such lands or interests in real
				property may be acquired in fee simple. The state may use the special
				alternative procedure to acquire lands or any interest therein for any public
				purpose for which the power of eminent domain may be properly exercised. And
				for purposes of Section
				42-2-3 NMSA
				1978, when state-owned property must be taken, the board shall first determine
				the greater public need, unless the state defendant in whom title is vested
				concedes that the purposes for which the property is sought to be taken is the
				greater public need.