2019 New Mexico Statutes
Chapter 3 - Municipalities
Article 60A - Metropolitan Redevelopment
Section 3-60A-36 - Revenue bonds; acquisition of project.
A. The local government may also provide that:
(1) the project and improvements to be constructed, if any, shall be constructed by the local government, the user, the user's designee or any one or more of them on real estate owned by the local government, the user or the user's designee, as the case may be; and
(2) the bond proceeds shall be disbursed by the trustee bank or trust company during construction upon the estimate, order or certificate of the user or the user's designee.
B. The project, if and to the extent constructed on real estate not owned by the local government, may be conveyed or leased or an easement in the real estate granted to the local government at any time.
History: Laws 1979, ch. 391, § 36; 2018, ch. 60, § 34.
ANNOTATIONSThe 2018 amendment, effective May 16, 2018, extended the powers and duties as identified in the Metropolitan Redevelopment Code from only municipalities to now include counties, made technical changes, and replaced "municipality" with "local government" throughout the section.
