2006 New Mexico Statutes - Section 11-3A-3 — Definitions.

11-3A-3. Definitions.

As used in the Regional Housing Law [Chapter 11, Article 3A NMSA 1978]:   

A.     "authority" means any regional housing authority or a nonprofit corporation created by an authority;   

B.     "bond" means any bond, note, interim certificate, debenture or other obligation issued by an authority pursuant to the Regional Housing Law;   

C.     "federal government" includes the United States of America, programs of the United States department of housing and urban development, the farmers home administration and rural development administration of the United States department of agriculture or housing programs or any other agency or instrumentality, corporate or otherwise, of the United States of America;   

D.     "housing project" means an undertaking of an authority to:   

(1)     demolish, clear or remove buildings from any slum area.  The undertaking may embrace the adaptation of the area to public purposes, including parks or other recreational or community purposes; or   

(2)     provide decent, safe and sanitary dwellings, apartments, single-family dwellings or other living accommodations for persons of low income.  The undertaking may include buildings, land, equipment, facilities and other real or personal property for necessary, convenient or desirable appurtenances, streets, sewers, water service, parks, site preparation, gardening, administrative, community, health, recreational, welfare or other purposes. "Housing project" also may be applied to the planning of buildings and improvements, acquisition of property or existing structures, demolition of existing structures, construction, reconstruction, alteration and repair of improvements or buildings or any other work performed to complete housing projects;   

E.     "local public body" means any county, municipality, commission, district or other subdivision of the state;   

F.     "low-income person" means any individual, couple or family whose gross income does not exceed eighty percent of the resident's particular county median income and who cannot afford to pay more than thirty percent of his gross income for housing rent or mortgage payments or a low-income person as defined by the federal government;   

G.     "obligee" means:   

(1)     a holder of bonds issued pursuant to the Regional Housing Law [Chapter 11, Article 3A NMSA 1978] or a trustee for that bondholder;   

(2)     a lessor leasing to an authority property used in connection with a housing project or any assignee of a lessor's interest or partial interest; or   

(3)     the federal government when it is a party to a contract with an authority in regard to a housing project;   

H.     "real property" includes all lands, including improvements and fixtures on the land, property of any nature appurtenant to or used in connection with the land and every estate, interest and right, legal or equitable, in the land, including terms for years and liens by way of judgment, mortgage or other instrument and the indebtedness secured by the lien; and   

I.     "slum" means any area where dwellings predominate, which by reason of dilapidation, overcrowding, lack of ventilation, light or sanitary facilitates or any combination of these factors are detrimental to safety, health or morals.