RELATING TO FINANCE; PROVIDING LEGISLATIVE AUTHORIZATION FOR THE NEW MEXICO FINANCE AUTHORITY TO MAKE GRANTS FOR PUBLIC PROJECTS FROM THE WATER AND WASTEWATER PROJECT GRANT FUND; AUTHORIZING THE ISSUANCE OF NEW MEXICO FINANCE AUTHORITY REVENUE BONDS FOR WATER AND WASTEWATER PROJECT GRANTS; DECLARING AN EMERGENCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. AUTHORIZATION OF PROJECTS.--Pursuant to the provisions of Subsection C of Section 6-21-6.3 NMSA 1978, the legislature authorizes the New Mexico finance authority to make grants from the water and wastewater project grant fund to the following qualified entities for the following public projects on a first-come, first-served basis based on the receipt of a completed application and on terms and conditions established by the authority:

A. to the Agua Sana mutual domestic water consumers association for a water project;

B. to the Alcalde mutual domestic water consumers association for a water project;

C. to Bayard, Santa Clara, or both, for phase 1 of a regional wastewater project;

D. to Belen for a water or wastewater project or both;

E. to the Canyon mutual domestic water consumers association for a water project;

F. to Chama for a water or wastewater project or both;

G. to the Cundiyo mutual domestic water consumers association for a water project;

H. to the El Prado water and sanitation district for a water project;

I. to Espanola for a water or wastewater project or both;

J. to Fort Sumner for a water project;

K. to the Gonzales Ranch mutual domestic water consumers association for a water project;

L. to Grants for a water project;

M. to Hope for a water project;

N. to Jemez Springs for a wastewater project;

O. to the La Mesa mutual domestic water consumers association for a water project;

P. to Las Vegas for a wastewater project;

Q. to Lovington for a water project and a wastewater project;

R. to Magdalena for a water project;

S. to the Malaga mutual domestic water consumers and sewage works association for a water project;

T. to the Mora mutual domestic water consumers association and the mutual solid waste association for a water project;

U. to the Northstar mutual domestic water consumers association for a water project;

V. to Picuris pueblo for a wastewater feasibility study;

W. to the Quemado mutual domestic water consumers and sewer association for a water project;

X. to the Ramah chapter of the Navajo nation for a water project;

Y. to Sunland Park for a wastewater project;

Z. to Truth or Consequences for a wastewater project;

AA. to Tucumcari for water and wastewater projects;

BB. to the Upper Canoncito mutual domestic water consumers association for a water project;

BB. to the Berino mutual domestic water consumers association for a water project;

CC. to the Butterfield Park mutual domestic water consumers association for a water project;

DD. to the Cebolla mutual domestic water consumers association for a water project;

EE. to the Dixon mutual domestic water consumers association for a water project;

FF. to the Desert Sands mutual domestic water consumers association for a water project;

GG. to the Tajique mutual domestic water consumers association for a water project;

HH. to Taos for a wastewater project;

II. to the Tierra Amarilla mutual domestic water consumers association for a water project; and

JJ. to the Youngsville mutual domestic water consumers association for a water project.

Section 2. VOIDING OF AUTHORIZATION.--If a qualified entity listed in Section 1 of this act has not certified to the New Mexico finance authority by the end of fiscal year 2003 its desire to continue to pursue a grant from the water and wastewater project grant fund for a public project listed in Section 1 of this act, then the legislative authorization granted to the New Mexico finance authority by that section to make a grant from the water and wastewater project grant fund to that qualified entity for that public project shall be void.

Section 3. NEW MEXICO FINANCE AUTHORITY REVENUE

BONDS--PURPOSES.--The New Mexico finance authority may issue and sell revenue bonds payable from the public project revolving fund in compliance with the New Mexico Finance Authority Act in installments or at any one time in an amount not to exceed five million dollars ($5,000,000), the net proceeds of which shall be deposited in the water and wastewater project grant fund and used pursuant to the provisions of Section 6-21-6.3 NMSA 1978.

Section 4. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.

HB 141

Page 5