2019 New Mexico Statutes
Chapter 6 - Public Finances
Article 21C - State Building Bonding
Section 6-21C-3 - Definitions.
As used in the State Building Bonding Act:
A. "acquiring" or "acquisition" includes acquiring or acquisition by purchase, construction or renovation; and
B. "building bonds" means state office building tax revenue bonds.
History: Laws 2001, ch. 199, § 3; 2003, ch. 371, § 2; 2004, ch. 123, § 2.
ANNOTATIONSThe 2004 amendment, effective May 19, 2004, amended Subsection B to delete from the definition of "building bonds" "or state museum tax revenue bonds".
Applicability. — Laws 2004, ch. 123, § 8 provided that:
"Nothing in this act shall be deemed to impair state museum tax revenue bonds outstanding on the effective date of this act. For the purposes of the obligations incurred with respect to those bonds:
A. the bonds shall be deemed to be "building bonds" pursuant to the provisions of the State Building Bonding Act;
B. money in the state building bonding fund is pledged for the payment of principal and interest on those bonds to the same extent as the fund was pledged prior to the effective date of this 2004 act; and
C. the state further pledges that any law authorizing the distribution of taxes or other revenues to the state building bonding fund or authorizing expenditures from the fund shall not be amended or repealed or otherwise modified so as to impair those bonds."
