Chapter 4 — Chapter 4

A. Prior to adopting an ordinance issuing county industrial revenue bonds, a county shall give notice to the county assessor and any entity located within the county authorized to levy taxes on property in the county of its intent to consider the matter. The county assessor and e…

A person proposing an electric transmission facility project pursuant to Paragraph (2) of Subsection A of Section 4-59-4 NMSA 1978 shall pay to the state annual payments equal to five percent of the total amount of in-lieu tax payments to be made in that calendar year by such per…

A. Bonds issued by a county under authority of the County Industrial Revenue Bond Act shall not be the general obligation of the county within the meaning of Article 9, Sections 10 and 13 of the constitution of New Mexico. The bonds shall be payable solely out of the revenue deri…

A. The principal of and interest on any bonds issued under the authority of the County Industrial Revenue Bond Act: (1) shall be secured by a pledge of the revenues out of which such bonds shall be made payable; (2) may be secured by a mortgage covering all or any part of the pro…

Prior to the leasing of any project, the commission must 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 such project; and B. the amount necessary to be paid each year in…

Any bonds issued hereunder and at any time outstanding may at any time and from time to time be refunded by a county by the issuance of its refunding bonds in such amount as the commission may deem necessary but not exceeding any amount sufficient to refund the principal of the b…

The proceeds from the sale of any bonds issued under authority of the County Industrial Revenue Bond Act shall be applied only for the purpose for which the bonds were issued; any accrued interest and premiums received in any such sale shall be applied to the payment of the princ…

refunding bonds. Prior to the issuance of industrial revenue bonds or refunding bonds for acquisition or improvement of a water utility or a joint water utility, New Mexico public utility commission approval, as required by the Public Utility Act [Chapter 62, Articles 1 to 6 and …

Sections 1 through 17 [4-60-1 to 4-60-15 NMSA 1978] may be cited as the "County Pollution Control Revenue Bond Act". History: 1978 Comp., § 4-60-1, enacted by Laws 1978, ch. 181, § 1.

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…

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.…

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…

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, ma…

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 C…

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. ARTICLE 61 Small Counties Assi…

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 incorporate…

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, cont…

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 …

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…

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 …

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…

Any bonds issued hereunder and at any time outstanding may at any time and from time to time be refunded by a county by the issuance of its refunding bonds in such amounts as the governing body may deem necessary. The amount of such refunding bonds may be the same as, less than o…

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 th…

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.

As used in the Small Counties Assistance Act: A. "adjustment factor" means a fraction, the numerator of which is the net taxable value of the state for the property tax year prior to the year in which the amount of small counties assistance is being determined and the denominator…

A. The "small counties assistance fund" is created within the state treasury. B. On or before September 1, 2003 and on or before September 1 of each subsequent year, the demographer shall certify in writing to the department of finance and administration the population of the sta…

limitation on time of issuance. A. In addition to any other law authorizing a county to issue revenue bonds, a county may issue revenue bonds pursuant to Chapter 4, Article 62 NMSA 1978 for the purposes specified in this section. B. Gross receipts tax revenue bonds may be issued …

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…

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 spec…

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.

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…

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, § …

required; resolution authorizing revenue bonds to be issued and sold to the New Mexico finance authority. A. At a regular or special meeting called for the purpose of issuing revenue bonds as authorized in Section 4-62-1 NMSA 1978, the governing body may adopt an ordinance that: …

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 …

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 projec…

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 th…

A. Refunding bonds issued pursuant to Chapter 4, Article 62 NMSA 1978 shall be authorized by ordinance or by resolution if the refunding bonds are to be issued and sold to the New Mexico finance authority pursuant to Subsection C of Section 4-62-4 NMSA 1978. Any bonds that are re…

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 …