REQUESTING THE INTERSTATE STREAM COMMISSION TO CLARIFY ASSURANCES FOR REPAYMENT OF ACEQUIA REHABILITATION LOANS.

WHEREAS, the loans granted to acequias by the interstate stream commission through the irrigation works construction fund are of great value to the acequias in New Mexico by providing funding for maintenance, upgrades and rehabilitation of acequias; and

WHEREAS, it is appropriate for the interstate stream commission to provide guidelines that clarify the administrative procedures for obtaining loans and assurances for the repayment of loans; and

WHEREAS, assurances should be developed in such a way that would ensure that loans continue to be accessible to acequias; and

WHEREAS, assurances should preserve the capacity of acequia commissions to incur debt on behalf of the acequias;

NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO that the interstate stream commission ensure that loans continue to be available to the acequias; and

BE IT FURTHER RESOLVED that the interstate stream commission be requested to develop assurances that ensure that loans continue to be accessible to acequias to preserve the capacity of acequia commissions to incur debt on behalf of the acequias; and

BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the interstate stream commission.