0001|                            HOUSE BILL 669
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                           DANIEL P. SILVA
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0005|     
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0006|                                   
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0007|     
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0008|     
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO TRANSPORTATION; ENACTING THE REGIONAL TRANSIT
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0012|     AUTHORITY ACT; AUTHORIZING THE CREATION OF REGIONAL TRANSIT
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0013|     AUTHORITIES; PROVIDING THE POWERS AND DUTIES OF A REGIONAL
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0014|     TRANSIT AUTHORITY; AUTHORIZING THE IMPOSITION OF A GROSS
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0015|     RECEIPTS TAX; AUTHORIZING ISSUANCE OF REGIONAL TRANSIT REVENUE
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0016|     BONDS; AMENDING AND ENACTING SECTIONS OF THE NMSA 1978.
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0017|     
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0018|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0019|          Section 1.  [<u>NEW MATERIAL</u>]  SHORT TITLE.--Sections 1
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0020|     through 28 of this act may be cited as the "Regional Transit
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0021|     Authority Act".
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0022|          Section 2.  [<u>NEW MATERIAL</u>]  PURPOSE.--The purpose of the
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0023|     Regional Transit Authority Act is to:
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0024|               A.  serve the public welfare by providing for the
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0025|     creation of a comprehensive network of safe, efficient and
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0001|     affordable public transportation within a metropolitan area; 
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0002|               B.  provide a public transit system to reduce the
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0003|     congestion of single-occupancy motor vehicle passenger traffic
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0004|     in a metropolitan area by providing transportation options for
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0005|     residents;   
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0006|               C.  decrease automobile accidents by reducing
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0007|     traffic congestion on freeways and streets; 
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0008|               D.  reduce noise and air pollution produced by motor
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0009|     vehicles; and
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0010|               E.  provide residents with a choice of
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0011|     transportation alternatives, so that seniors, youth, low-income
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0012|     and mobility-impaired residents and others unable to drive or
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0013|     to afford an automobile continue to have full access to the
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0014|     goods, services and activities of the community. 
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0015|          Section 3.  [<u>NEW MATERIAL</u>]  DEFINITIONS.--As used in the
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0016|     Regional Transit Authority Act:
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0017|               A.  "authority" means a regional transit authority
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0018|     created pursuant to the provisions of the Regional Transit
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0019|     Authority Act;
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0020|               B.  "board" means a regional transit authority
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0021|     board;
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0022|               C.  "condemn" or "condemnation" means the
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0023|     acquisition of property or an interest in property by a
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0024|     regional transit authority through the exercise of the power of
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0025|     eminent domain;
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0001|               D.  "department" means the taxation and revenue
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0002|     department, the secretary of taxation and revenue or any
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0003|     employee of the department exercising authority lawfully
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0004|     delegated to that employee by the secretary;
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0005|               E.  "high-occupancy vehicle" means any vehicle
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0006|     carrying more than one person, including buses, vans, cars and
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0007|     passenger trains;
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0008|               F.  "metropolitan area" means an area consisting of
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0009|     at least two contiguous counties, one of which has a
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0010|     municipality with a population in excess of twenty thousand;
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0011|               G.  "motor vehicle" means a self-propelled vehicle
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0012|     suitable for operation on highways;
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0013|               H.  "municipality" means any incorporated city, town
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0014|     or village, whether incorporated under general act, special act
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0015|     or special charter;
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0016|               I.  "person" means an individual or any other legal
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0017|     entity;
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0018|               J.  "principal city" means the city of largest
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0019|     population within a metropolitan area;
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0020|               K.  "public transit system" means a public transit
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0021|     network that transports passengers by means of high-occupancy
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0022|     vehicles that is created and administered by an authority; 
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0023|               L.  "secretary" means the secretary of taxation and
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0024|     revenue; and
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0025|               M.  "regional transit gross receipts tax" means the
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0001|     gross receipts tax imposed pursuant to the Regional Transit and
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0002|     Authority Act.
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0003|          Section 4.  [<u>NEW MATERIAL</u>]  CREATION OF TRANSIT
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0004|     AUTHORITY--NOTICE AND HEARING.--
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0005|               A.  The governing body of a principal city in a
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0006|     metropolitan area may institute proceedings to create an
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0007|     authority in the manner prescribed in the Regional Transit
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0008|     Authority Act.  
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0009|               B.  The proposed authority consists of the county in
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0010|     which the principal city is located and may include additional
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0011|     adjacent counties or municipalities in the metropolitan area
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0012|     outside of the county where the principal city is located,
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0013|     provided that the entirety of the territory of each county or
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0014|     municipality is included.
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0015|               C.  Upon a finding that a metropolitan area lacks
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0016|     adequate public transportation infrastructure, a majority of
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0017|     the members of the governing body of the principal city may
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0018|     adopt a resolution proposing to create an authority,
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0019|     determining the territorial area of the proposed authority and
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0020|     fixing the time and place that the governing body will conduct
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0021|     a public hearing on the proposal.  The governing body of the
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0022|     principal city shall not adopt a resolution proposing creation
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0023|     of an authority without the concurrence of a majority of the
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0024|     members of the governing body of each county and municipality
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0025|     it proposes to include within that area.
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0001|               D.  Notice of the time and place of the public
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0002|     hearing, including a copy of the resolution setting out the
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0003|     territorial area of the proposed authority, shall be sent by
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0004|     registered mail to the governing body and chief executive
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0005|     officer of each county and municipality included in the
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0006|     proposed authority area.  Notice of the public hearing and a
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0007|     copy of the resolution shall be published by each county and
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0008|     municipality once a week for two consecutive weeks in at least
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0009|     one newspaper of general circulation in the metropolitan area. 
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0010|     The first publication shall be not less than fifteen days prior
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0011|     to the date fixed for the hearing.  Copies of the notice and
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0012|     resolution shall also be available upon request to interested
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0013|     persons in the metropolitan area.
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0014|               E.  At the public hearing, representatives of
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0015|     municipalities and counties in the metropolitan area and other
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0016|     interested persons may present evidence for or against the
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0017|     creation of the proposed authority and for or against the need
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0018|     for construction or expansion of a public transit system in the
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0019|     metropolitan area.  
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0020|               F.  If, after hearing all evidence at the public
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0021|     hearing, the governing body of the principal city finds that
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0022|     the creation of an authority and the construction and operation
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0023|     of a public transit system is necessary for the public health
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0024|     and welfare and will benefit residents of the area, the
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0025|     governing body shall adopt a resolution proposing creation of
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0001|     the authority subject to approval by the voters at a
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0002|     confirmation election, naming the authority, prescribing the
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0003|     territorial area of the authority and providing for appointment
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0004|     of an interim board.
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0005|               G.  If, after hearing all evidence at the public
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0006|     hearing, the governing body of the principal city finds that
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0007|     the creation of the authority and the construction and
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0008|     operation of a public transit system in the metropolitan area
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0009|     are not necessary for the public health and welfare and would
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0010|     not benefit the residents of the metropolitan area, it shall
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0011|     not create the authority.  The governing body shall not again
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0012|     adopt a resolution proposing creation of an authority for at
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0013|     least two years after the disapproval of the resolution by the
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0014|     voters.
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0015|               H.  If the principal city adopts a resolution
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0016|     proposing creation of an authority, it shall submit that
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0017|     resolution to the governing body of each county and
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0018|     municipality it proposes to include within the area of the
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0019|     authority.  Each governing body included shall, within sixty
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0020|     days, approve or disapprove by resolution their inclusion in
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0021|     the proposed authority.  Failure to adopt a resolution in favor
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0022|     of inclusion shall result in that jurisdiction being excluded
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0023|     in the initial confirmation election.
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0024|          Section 5.  [<u>NEW MATERIAL</u>]  REGIONAL TRANSIT AUTHORITY
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0025|     BOARD.--The construction and operation of an authority and its
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0001|     properties shall be vested in a regional transit authority
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0002|     board.  Board members shall be qualified electors who reside
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0003|     within the boundaries of the political subdivision of the
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0004|     authority that they represent.
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0005|          Section 6.  [<u>NEW MATERIAL</u>] REGIONAL TRANSIT AUTHORITY
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0006|     BOARD--MEMBERSHIP AND TERMS OF OFFICE.--
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0007|               A.  An interim board shall be appointed by the
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0008|     political subdivision that it represents within thirty days
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0009|     after the date of the adoption of the resolution by the voters
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0010|     at the confirmation election.  Interim board members shall
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0011|     serve until January 1 of the year following the general
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0012|     election at which the initial regular board members are
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0013|     elected.  The appointed interim board members shall have the
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0014|     same proportional representation as the elected regular board
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0015|     members, and shall have the same powers and duties and be
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0016|     subject to the same provisions of the Regional Transit
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0017|     Authority Act as regular board members.  Each interim board
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0018|     member serves at the pleasure of the appointing political
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0019|     subdivision.
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0020|               B.  Regular board members shall be elected at a
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0021|     special election to be conducted at the same time as the
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0022|     general election, with the initial regular members being
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0023|     elected at a special election conducted at the same time as the
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0024|     first general election after the confirmation election provided
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0025|     for in Section 7 of the Regional Transit Authority Act.  Board
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0001|     members shall serve terms of four years.  Prior to the election
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0002|     of the permanent board, the interim board shall determine by
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0003|     lot which half of the regular members shall serve initial two-
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0004|     and four-year terms.  After the initial election, all board
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0005|     members shall be elected for four-year terms.
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0006|               C.  A board shall consist of at least five members. 
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0007|     The number of principal city members shall be no more than one
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0008|     less than a majority of membership on the board.  Each
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0009|     political subdivision shall have one member.  A municipality
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0010|     having a population of at least fifty thousand, as determined
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0011|     in the most recent federal decennial census shall have one
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0012|     additional member for each additional fifty thousand persons in
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0013|     the municipality.  
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0014|               D.  Vacancies on the board shall be filled for the
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0015|     remainder of the term in the manner provided for the original
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0016|     appointment of the interim board.  Upon expiration of the term
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0017|     of office of each member of the board, a member may seek office
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0018|     for the succeeding term.
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0019|               E.  Board members shall be reimbursed for per diem
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0020|     and mileage as provided for public officers in the Per Diem and
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0021|     Mileage Act.
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0022|               F.  Board members shall be residents of the
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0023|     political subdivisions that they represent, and qualified
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0024|     voters of the authority.
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0025|               G.  Members shall select annually from among their
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0001|     membership a chairman, a vice chairman and a secretary, and
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0002|     other officers as it deems necessary.  No member of the board
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0003|     or officer of the authority shall have pecuniary interest in or
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0004|     benefit directly or indirectly from any contract or agreement
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0005|     to which the authority is a party.  
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0006|               H.  The board shall meet at least once a month for
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0007|     the purpose of transacting the business of the authority.  In
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0008|     addition to regularly scheduled meetings, the chairman may call
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0009|     special meetings as may be necessary upon written notice at
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0010|     least ten days prior to the meeting.  A majority of the members
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0011|     shall constitute a quorum of the board for the purpose of
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0012|     conducting its business and exercising its powers.
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0013|               I.  A member of the board may be removed from office
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0014|     for nonfeasance, misfeasance or malfeasance in office by the
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0015|     governing body that appointed that member or that represents
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0016|     the political subdivision that elected that member, or by a
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0017|     majority of the permanent board.
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0018|          Section 7.  [<u>NEW MATERIAL</u>]  CONFIRMATION ELECTION.--
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0019|               A.  Within thirty days of its appointment, the
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0020|     interim board shall adopt a resolution calling for a
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0021|     confirmation election to be held within one hundred eighty days
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0022|     of the date the resolution calling for the election is adopted. 
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0023|     The confirmation election shall be for the purpose of
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0024|     determining whether the creation of the authority shall be
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0025|     confirmed and the board authorized to impose a regional transit
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0001|     gross receipts tax at a rate not to exceed one-half of one
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0002|     percent of the gross receipts of persons engaging in business
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0003|     in the authority area, to fund a public transit system and
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0004|     provide public transit services in the metropolitan area.
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0005|               B.  The question submitted to the voters at the
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0006|     confirmation election shall be:
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0007|          "Shall the creation of the <u>    (name of the authority)  
</u>    |
<u></u>0008| <u>    </u>, consisting of <u>    (names of counties and municipalities to
</u>    |
<u></u>0009| <u>    be included)</u>, be confirmed and shall the board of the
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0010|     authority be authorized to impose a regional transit gross
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0011|     receipts tax in the amount of _______ percent of gross receipts
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0012|     not to exceed one-half of one percent of the gross receipts of
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0013|     persons engaging in business in the authority area, to fund a
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0014|     public transit system and provide public transit services in
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0015|     the metropolitan area?                  _____   Yes       _____  
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0016|     No".
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0017|               C.  The election shall be conducted so that votes
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0018|     are separately tabulated and canvassed in each separate
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0019|     political subdivision in which the election is held.        

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0020|               D.  Those counties or municipalities in which a
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0021|     majority of the voters voting on the question votes against the
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0022|     confirmation of the creation of the authority and the levy of
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0023|     the proposed tax shall not become part of the authority.  Those
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0024|     political subdivisions where a majority of the voters voting on
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0025|     the question votes in favor of the creation of the authority
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0001|     and the levy of the proposed tax shall become part of the
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0002|     authority.
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0003|               E.  If the vote is not favorable in the principal
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0004|     city that initiated the confirmation election, the authority
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0005|     shall not be created, and the principal city shall not again
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0006|     propose to create an authority for a period of at least two
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0007|     years from the date of the confirmation election.  
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0008|               F.  The expense of calling and conducting the 
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0009|     confirmation election shall be borne by the principal city
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0010|     proposing the authority.  However, if the election results in
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0011|     the creation of an authority, the authority shall reimburse the
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0012|     principal city for all expenditures made in the course of
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0013|     calling and conducting the election within twelve months after
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0014|     the date on which collection of the tax for the authority
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0015|     begins.
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0016|               G.  At any time after the confirmation election, the
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0017|     board may call an election to increase the gross receipts tax
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0018|     levy for the purpose of expanding transit services.  The
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0019|     expense of calling and conducting this election shall be borne
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0020|     by the authority.  If a majority of the votes cast in the
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0021|     election favors an increase in the gross receipts tax, that
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0022|     additional tax shall be imposed.  If a majority of the votes
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0023|     cast in the election does not favor an increase in the gross
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0024|     receipts tax, the additional tax shall not be imposed, and the
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0025|     authority shall not again propose to increase the tax for a
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0001|     period of at least two years from the date of that election.
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0002|               H.  The dates on which the authority shall be
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0003|     established, additional jurisdictions can join an authority or
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0004|     a jurisdiction can withdraw from an authority shall be January
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0005|     1 or July 1 immediately following the election.
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0006|          Section 8.  [<u>NEW MATERIAL</u>]  POWERS OF THE AUTHORITY.--
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0007|               A.  An authority, when created and confirmed, shall
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0008|     constitute a public body corporate and politic, exercising
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0009|     governmental functions, having the power necessary to carry out
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0010|     the purposes of the Regional Transit Authority Act.  
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0011|               B.  An authority may sue and be sued in all courts
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0012|     of competent jurisdiction.
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0013|               C.  An authority may adopt and use a seal of the
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0014|     authority.
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0015|               D.  An authority may fix the fiscal year for the
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0016|     authority.
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0017|               E.  An authority may acquire property by grant,
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0018|     purchase, gift, devise, lease or otherwise and may hold, use,
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0019|     sell, lease or dispose of real and personal property as it
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0020|     deems necessary for the full exercise of any of its powers
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0021|     pursuant to the provisions of the Regional Transit Authority
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0022|     Act.
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0023|               F.  An authority may acquire, construct, complete,
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0024|     develop, own, operate and maintain a public transit system
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0025|     within its boundaries, and both within and without the
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0001|     boundaries of municipalities.  For the purpose of the system,
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0002|     the authority shall have the right to use the streets, highways
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0003|     and other public ways, and, with permission of the owner, to
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0004|     relocate or alter the construction of any street, highway,
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0005|     other public way, electric and telephone lines and properties,
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0006|     pipelines, conduits and other properties, whether publicly or
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0007|     privately owned, if deemed necessary by the authority in the
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0008|     construction, reconstruction, repair, maintenance and operation
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0009|     of the system.  Any damage that may occur to the property shall
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0010|     be borne by the authority. 
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0011|               G.  An authority may enter into agreements with any
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0012|     other public or private utility, communication system, common
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0013|     carrier or transportation system for the joint use of their
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0014|     respective facilities or properties within the authority and to
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0015|     establish routes, joint fares or transfer of passengers.
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0016|               H.  An authority may enter into contracts, leases
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0017|     and agreements with and accept grants and loans from the
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0018|     federal government, its departments and agencies, and the state
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0019|     and any of its political subdivisions.  A revenue bond
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0020|     indenture may provide limitations upon the exercise of the
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0021|     powers stated in this section, and the limitations shall apply
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0022|     as long as any revenue bonds issued pursuant to this indenture
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0023|     are outstanding and unpaid.
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0024|               I.  An authority may propose for the construction,
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0025|     operation and maintenance of a public transit system, the
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0001|     imposition of an excise tax on any person engaging in business
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0002|     in the authority area, which shall not exceed a rate of one-
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0003|     half of one percent of the gross receipts of persons engaging
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0004|     in business in the authority.
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0005|               J.  An authority may sell, lease, convey or
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0006|     otherwise dispose of any of its rights, interests or real or
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0007|     personal properties or surplus material not needed for the
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0008|     efficient operation and maintenance of the public transit
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0009|     system.
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0010|               K.  An authority may lease the public transit system
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0011|     or any part of the system, or contract for the use or operation
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0012|     of the system by an operator; provided that a lease for
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0013|     operation of the entire system shall be subject to the written
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0014|     consent and approval of the governing body of the principal
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0015|     city.
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0016|               L.  An authority shall establish and maintain rates,
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0017|     fares, tolls, charges, rents or other compensation for the use
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0018|     of the facilities of the public transit system constructed,
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0019|     operated and maintained by the authority, which shall be
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0020|     reasonable and nondiscriminatory, and shall, together with the
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0021|     transit gross receipts tax, be adequate to meet its financial
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0022|     obligations.
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0023|               M.  An authority shall, by resolution, adopt rules
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0024|     governing the use, operation and maintenance of the public
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0025|     transit system and shall determine all routings whenever it is
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0001|     deemed advisable by the authority.
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0002|               N.  An authority may contract with any municipality
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0003|     or county to provide public transit services to any area
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0004|     outside the boundaries of the authority.
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0005|               O.  An authority may acquire by purchase real
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0006|     property and equipment necessary to develop a public transit
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0007|     system, including station stops and complexes, maintenance and
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0008|     operating facilities, transfer locations, bus stations and
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0009|     stops, intermodal facilities and office buildings.
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0010|               P.  An authority may borrow money, issue bonds and
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0011|     enter into contracts and finance leasing.  
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0012|               Q.  An authority may invest funds of the authority
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0013|     in direct or indirect obligations of the United States, the
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0014|     state or any of its political subdivisions.
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0015|          Section 9.  [<u>NEW MATERIAL</u>]  POWER OF EMINENT DOMAIN.--
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0016|     The authority may exercise in the state the power of eminent
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0017|     domain, either within the authority or up to a five-mile radius
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0018|     outside the boundaries of the authority, and in the manner
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0019|     provided by law for the condemnation of private property for
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0020|     public use, may take any property necessary to carry out the
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0021|     purposes of the Regional Transit Authority Act.
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0022|          Section 10.  [<u>NEW MATERIAL</u>]  ADDITION OR WITHDRAWAL OF
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0023|     TERRITORY BY AN AUTHORITY.--
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0024|               A.  After the creation of the authority, a governing
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0025|     body of a municipality or county adjacent to but not part of
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0001|     the authority may, upon concurrence of the board, propose to
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0002|     join the authority, determine the territorial area to become a
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0003|     part of that authority and fix the time and place that the
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0004|     governing body will conduct a public hearing on the proposal. 
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0005|     If, after hearing all evidence at the public hearing, the
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0006|     governing body of the municipality or county finds that joining
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0007|     the authority would benefit residents of the area, an election
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0008|     shall be held by the municipality or county on the question of
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0009|     whether the municipality or county shall be annexed to the
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0010|     authority.  If a majority of voters voting on the question
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0011|     votes in favor of the annexation, the municipal or county clerk
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0012|     shall certify the results of the election to the board, and the
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0013|     area shall become a part of the authority.
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0014|               B.  If a city or town that is a part of an authority
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0015|     lawfully annexes additional territory that is not a part of the
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0016|     authority, the annexed territory shall become a part of the
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0017|     authority.
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0018|               C.  A jurisdiction that is a part of the authority
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0019|     can withdraw from the authority by submitting to the voters the
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0020|     question:  "Should <u>(name of jurisdiction)</u> withdraw from the
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0021|     <u>(name of authority)</u>?".  If a majority of voters voting on the
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0022|     question votes in favor of withdrawal, the municipal or county
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0023|     clerk shall certify the results of the election to the board
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0024|     and the jurisdiction shall cease to be a member of the
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0025|     authority.  The regional transit gross receipts tax shall
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0001|     continue until either the bonds that are outstanding at the
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0002|     time of withdrawal are paid in full, or the jurisdiction
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0003|     negotiates an agreement with the authority to provide funds
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0004|     sufficient to pay its pro rata share of the debt service on
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0005|     bonds previously issued to finance capital, and to acquire
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0006|     authority property lying within the bounds of the jurisdiction
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0007|     but outside the new boundaries of the authority.  The
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0008|     provisions shall be negotiated and agreed to by the authority
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0009|     board, the governing body of the jurisdiction and the
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0010|     department.
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0011|               D.  After the initial confirmation election to
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0012|     establish the authority, elections to join or withdraw shall be
    |
0013|     paid for by the jurisdiction that initiates the election. 
    |
0014|          Section 11.  [<u>NEW MATERIAL</u>]  STATION OR TERMINAL
    |
0015|     COMPLEXES.--
    |
0016|               A.  Before a station or terminal complex may be
    |
0017|     included in the system, the board shall determine that the
    |
0018|     proposed station or terminal complex will provide efficient and
    |
0019|     economical public transit service, will reduce vehicular
    |
0020|     congestion and air pollution in the metropolitan area and is
    |
0021|     reasonably essential to the successful operation of the system. 
    |
0022|     
    |
0023|               B.  A station or terminal complex shall include
    |
0024|     adequate provisions to transfer passengers between the various
    |
0025|     modes of transportation available to the complex.  A proposed
    |
0001|     station or terminal complex located within the city limits or
    |
0002|     extraterritorial jurisdiction of a municipality shall first be
    |
0003|     approved by the governing body of the municipality as to
    |
0004|     conformity with the general plan of the municipality.
    |
0005|          Section 12.  [<u>NEW MATERIAL</u>]  REGIONAL TRANSIT GROSS
    |
0006|     RECEIPTS TAX--IMPOSITION--RATE AUTHORIZED.--
    |
0007|               A.  Upon voter approval pursuant to the Regional
    |
0008|     Transit Authority Act, the board may impose by resolution an
    |
0009|     excise tax on any person engaging in business in the authority
    |
0010|     area for the privilege of engaging in business.  The rate of
    |
0011|     the tax shall not exceed the rate approved by the voters.  The
    |
0012|     tax shall be referred to as the "regional transit gross
    |
0013|     receipts tax".
    |
0014|               B.  A tax imposed pursuant to this section may be
    |
0015|     imposed in one-sixteenth of one percent, one-eighth of one
    |
0016|     percent or one-fourth of one percent increments or any number
    |
0017|     of such increments by the enactment of one or more resolutions,
    |
0018|     but the total regional transit gross receipts tax rate imposed
    |
0019|     by all resolutions shall not exceed an aggregate rate of one-
    |
0020|     half of one percent of the gross receipts of a person engaging
    |
0021|     in business in the authority area.
    |
0022|               C.  The board, at the time of enacting a resolution
    |
0023|     imposing or changing the tax authorized in Subsection A of this
    |
0024|     section, shall dedicate the revenue for the management,
    |
0025|     construction or operation of the public transit system or
    |
0001|     regional public transit services or for specific public transit
    |
0002|     projects or services of the authority pursuant to the Regional
    |
0003|     Transit Authority Act. 
    |
0004|               D.  Any law that imposes or authorizes the
    |
0005|     imposition of a regional transit gross receipts tax or that
    |
0006|     affects that tax, or any law supplemental to or otherwise
    |
0007|     pertaining to that tax, shall not be repealed or amended or
    |
0008|     otherwise directly or indirectly modified in such a manner as
    |
0009|     to impair adversely any outstanding regional transit revenue
    |
0010|     bonds that may be secured by a pledge of that tax, unless those
    |
0011|     outstanding revenue bonds have been discharged in full or
    |
0012|     provisions have been fully made for the discharge.
    |
0013|          Section 13.  [<u>NEW MATERIAL</u>]  REGIONAL TRANSIT GROSS
    |
0014|     RECEIPTS TAX--EFFECTIVE DATE OF RESOLUTION--COMPLIANCE WITH
    |
0015|     GROSS RECEIPTS AND COMPENSATING TAX ACT AND REQUIREMENTS OF
    |
0016|     DEPARTMENT--SUBMISSION OF COPY TO DEPARTMENT.--
    |
0017|               A.  Unless another date is approved by the
    |
0018|     department, a resolution imposing, amending or repealing a
    |
0019|     regional transit gross receipts tax or an increment of the tax
    |
0020|     pursuant to the Regional Transit Authority Act shall be
    |
0021|     effective on July 1 or January 1, whichever date occurs first,
    |
0022|     after the expiration of at least three months from the date the
    |
0023|     adopted resolution is mailed or delivered to the department. 
    |
0024|     The resolution shall include the effective date.
    |
0025|               B.  A resolution imposing a regional transit gross
    |
0001|     receipts tax pursuant to the Regional Transit Authority Act
    |
0002|     shall adopt by reference the same definitions and the same
    |
0003|     provisions relating to exemptions and deductions as are
    |
0004|     contained in the Gross Receipts and Compensating Tax Act then
    |
0005|     in effect and as it may be amended from time to time.
    |
0006|               C.  The board imposing the regional transit gross
    |
0007|     receipts tax pursuant to the Regional Transit Authority Act
    |
0008|     shall impose the tax by adopting the model resolution with
    |
0009|     respect to the tax furnished to the authority by the
    |
0010|     department.  A resolution that does not conform substantially
    |
0011|     to the model resolution of the department is not valid.
    |
0012|               D.  A certified copy of the resolution imposing or
    |
0013|     repealing a regional transit gross receipts tax authorized
    |
0014|     under the Regional Transit Authority Act or changing the tax
    |
0015|     rate imposed shall be mailed or delivered to the department
    |
0016|     within five days after the resolution is adopted.
    |
0017|          Section 14.  [<u>NEW MATERIAL</u>]  REGIONAL TRANSIT GROSS
    |
0018|     RECEIPTS TAX--SPECIFIC EXEMPTIONS.--No regional transit gross
    |
0019|     receipts tax authorized under the Regional Transit Authority
    |
0020|     Act shall be imposed on the gross receipts arising from
    |
0021|     transporting persons or property for hire by railroad, motor
    |
0022|     vehicle, air transportation or any other means from one point
    |
0023|     within the authority to another point outside the authority,
    |
0024|     nor shall the tax be imposed on direct satellite broadcasting
    |
0025|     or on gross receipts that are exempt by federal law.
    |
0001|          Section 15.  [<u>NEW MATERIAL</u>]  REGIONAL TRANSIT GROSS
    |
0002|     RECEIPTS TAX--COLLECTION BY DEPARTMENT--TRANSFER OF PROCEEDS--
    |
0003|     DEDUCTION.--
    |
0004|               A.  The department shall collect the regional
    |
0005|     transit gross receipts tax imposed pursuant to the provisions
    |
0006|     of the Regional Transit Authority Act in the same manner and at
    |
0007|     the same time it collects the state gross receipts tax.
    |
0008|               B.  The department may deduct an amount not to
    |
0009|     exceed three percent of the regional transit gross receipts tax
    |
0010|     collected under the provisions of the Regional Transit
    |
0011|     Authority Act as a charge for the administrative costs of
    |
0012|     collection.  That amount shall be remitted to the state
    |
0013|     treasurer for deposit in the state general fund each month.
    |
0014|               C.  The department shall transfer to each authority
    |
0015|     for which it is collecting a regional transit gross receipts
    |
0016|     tax pursuant to the provisions of the Regional Transit
    |
0017|     Authority Act the amount of the tax collected for that
    |
0018|     authority, less any disbursement for administrative charges
    |
0019|     made pursuant to Subsection B of this section, tax credits,
    |
0020|     refunds and the payment of interest applicable to the tax.  The
    |
0021|     transfer to the authority shall be made within the month
    |
0022|     following the month in which the tax is collected.     
    |
0023|          Section 16.  [<u>NEW MATERIAL</u>]  REGIONAL TRANSIT GROSS
    |
0024|     RECEIPTS TAX--ADMINISTRATION AND ENFORCEMENT OF ACT.--
    |
0025|               A.  The department shall interpret the provisions of
    |
0001|     the Regional Transit Authority Act with respect to the regional
    |
0002|     transit gross receipts tax authorized under that act.
    |
0003|               B.  The department shall administer and enforce the
    |
0004|     collection of the regional transit gross receipts tax
    |
0005|     authorized pursuant to the Regional Transit Authority Act, and
    |
0006|     the Tax Administration Act applies to the administration and
    |
0007|     enforcement of the regional transit gross receipts tax.
    |
0008|          Section 17.  [<u>NEW MATERIAL</u>]  BONDS OF THE AUTHORITY--
    |
0009|     USE--SECURITY.--
    |
0010|               A.  The authority may issue and sell revenue bonds
    |
0011|     from time to time in principal amounts it considers necessary
    |
0012|     to provide sufficient funds for any purpose of the Regional
    |
0013|     Transit Authority Act, including:
    |
0014|                    (1)  the acquisition of real and personal
    |
0015|     property whether by purchase or by exercising the power of
    |
0016|     eminent domain;
    |
0017|                    (2)  the purchase, construction,
    |
0018|     reconstruction, repair, equipping, improvement or extension of
    |
0019|     a public transit system;
    |
0020|                    (3)  the payment, funding, refinancing or
    |
0021|     refunding of the principal of or interest or redemption
    |
0022|     premiums on bonds and other indebtedness issued or incurred by
    |
0023|     the authority whether the bonds or interest to be paid, funded,
    |
0024|     refinanced or refunded have or have not become due;
    |
0025|                    (4)  the establishment or increase of reserves
    |
0001|     or sinking funds to secure or to pay principal, premium, if
    |
0002|     any, or interest on bonds and reserves relating to the
    |
0003|     operation, maintenance and repair of a public transit system;
    |
0004|     and
    |
0005|                    (5)  all other costs or expenses of the
    |
0006|     authority necessary or convenient to carry out its corporate
    |
0007|     purposes and powers.
    |
0008|               B.  Except as otherwise provided in the Regional
    |
0009|     Transit Authority Act, all bonds or other obligations issued by
    |
0010|     the authority shall be obligations of the authority payable
    |
0011|     solely from, and the authority is authorized to pledge,
    |
0012|     transfer and assign for the payment of the bonds:
    |
0013|                    (1)  all or part of the net receipts of the
    |
0014|     regional transit gross receipts tax that is dedicated for the
    |
0015|     purpose for which the bonds are issued;
    |
0016|                    (2)  any other revenue, income, money or funds
    |
0017|     of the authority from any source available for the payment of
    |
0018|     the bonds; or
    |
0019|                    (3)  any grant, subsidy or contribution from
    |
0020|     the United States or any of its agencies or instrumentalities
    |
0021|     that may be used for the payment of bonds of the authority.
    |
0022|               C.  The bonds and other obligations of the authority
    |
0023|     shall not create an obligation, debt or liability of the state
    |
0024|     or any political subdivision of the state, including any
    |
0025|     municipality or county that is a part of the authority.  No
    |
0001|     breach of any pledge, obligation or agreement of the authority
    |
0002|     shall impose a pecuniary liability or a charge upon the general
    |
0003|     credit or taxing power of the state or any political
    |
0004|     subdivision of the state, including any municipality or county
    |
0005|     that is a part of the authority.
    |
0006|          Section 18.  [<u>NEW MATERIAL</u>]  BONDS--AUTHORIZATION FOR
    |
0007|     ISSUANCE--TERMS AND CONDITIONS.--
    |
0008|               A.  Bonds of the authority shall be authorized by
    |
0009|     resolution of the board and may be issued in one or more
    |
0010|     series.  The bonds shall bear the dates, be in the form, be
    |
0011|     issued in the denominations, have terms and maturities, bear
    |
0012|     interest at fixed or variable rates or have appreciated
    |
0013|     principal, be payable in the manner and at the times, be
    |
0014|     redeemed with or without premiums prior to maturity, be ranked
    |
0015|     or assigned priority status and have such other terms as the
    |
0016|     resolution of the authority or the trust agreement or other
    |
0017|     document securing the bonds provides.
    |
0018|               B.  The bonds issued by the authority may be sold at
    |
0019|     any time at private or public sale at prices agreed upon by the
    |
0020|     authority.
    |
0021|               C.  Bonds may be issued pursuant to the Regional
    |
0022|     Transit Authority Act without obtaining the consent of any
    |
0023|     agency of the state and without any other proceeding or
    |
0024|     condition other than the proceedings or conditions specified in
    |
0025|     that act.
    |
0001|               D.  The bonds issued by the authority are negotiable
    |
0002|     instruments for all purposes of the Uniform Commercial Code,
    |
0003|     subject only to the provisions of the bonds for registration.
    |
0004|          Section 19.  [<u>NEW MATERIAL</u>]  TRUST AGREEMENTS--CREDIT
    |
0005|     FACILITIES--RELATED DOCUMENTS.--
    |
0006|               A.  The authority may enter into trust agreements to
    |
0007|     better secure the payment of any bonds issued pursuant to the
    |
0008|     Regional Transit Authority Act with any corporate trustee and
    |
0009|     provide in the trust agreements for the rights and limitations
    |
0010|     on rights of the holders and owners of the bonds.
    |
0011|               B.  The authority may enter into credit facilities
    |
0012|     to provide additional security for its bonds or for a primary
    |
0013|     or contingent source of payment of or reimbursement for the
    |
0014|     principal of, interest or any redemption premium on the bonds,
    |
0015|     or the purchase price upon a tender or call of the bonds.  The
    |
0016|     authority may enter into contracts for the purchase or
    |
0017|     repurchase of its bonds.
    |
0018|               C.  The authority may enter into reimbursement
    |
0019|     agreements, credit agreements, escrow agreements and other
    |
0020|     contracts and agreements as are necessary or appropriate for
    |
0021|     its bonds.
    |
0022|          Section 20.  [<u>NEW MATERIAL</u>]  REFUNDING BONDS.--The
    |
0023|     authority is authorized to issue its bonds for the purpose of
    |
0024|     refunding any outstanding bonds, including the payment of any
    |
0025|     redemption premiums and any interest accrued or to accrue to
    |
0001|     the date of redemption of the outstanding bonds.  Until the
    |
0002|     proceeds of the refunding bonds are applied to the purchase or
    |
0003|     retirement of the outstanding bonds or the redemption of the
    |
0004|     outstanding bonds, the proceeds may be placed in escrow and be
    |
0005|     invested and reinvested.  The interest, income and profits, if
    |
0006|     any, earned or realized on any such investment may, in the
    |
0007|     discretion of the authority, also be applied to the payment of
    |
0008|     the outstanding bonds to be refunded.  After the terms of any
    |
0009|     escrow agreement have been satisfied, any balance remaining in
    |
0010|     escrow, including investments earnings, may be returned to the
    |
0011|     authority for use by it in any lawful manner.  All refunding
    |
0012|     bonds shall be issued and secured and shall be subject to the
    |
0013|     provisions of the Regional Transit Authority Act in the same
    |
0014|     manner and to the same extent as any other bonds issued
    |
0015|     pursuant to the Regional Transit Authority Act.
    |
0016|          Section 21.  [<u>NEW MATERIAL</u>]  PUBLICATION OF NOTICE--
    |
0017|     VALIDATION--LIMITATION OF ACTION.--
    |
0018|               A.  After adoption of a resolution authorizing the
    |
0019|     issuance of bonds, the authority shall publish notice of the
    |
0020|     adoption of the resolution once in a newspaper of general 
    |
0021|     circulation in the area in which the authority is located.
    |
0022|               B.  After the passage of thirty days from the time
    |
0023|     of publication, any action attacking the validity of the
    |
0024|     proceedings or taken by the authority in the authorization and
    |
0025|     issuance of the bonds described in the notice is perpetually
    |
0001|     barred.
    |
0002|          Section 22.  [<u>NEW MATERIAL</u>]  MANAGEMENT.--
    |
0003|               A.  Responsibility for the management, operation and
    |
0004|     control of the property belonging to an authority shall be
    |
0005|     vested in its board.  The board may employ qualified persons
    |
0006|     deemed necessary by the board for the conduct of the affairs of
    |
0007|     the authority, including a general manager, bookkeeper, auditor
    |
0008|     and engineer.
    |
0009|               B.  The board shall provide for an annual audit of
    |
0010|     its affairs by an independent certified public accountant.
    |
0011|          Section 23.  [<u>NEW MATERIAL</u>]  ANNUAL BUDGET.--Prior to
    |
0012|     the beginning of a fiscal year, the board shall adopt an annual
    |
0013|     operating budget that specifies major expenditures by type and
    |
0014|     amount.  Before the board adopts its annual operating budget,
    |
0015|     it shall conduct a public hearing and make the proposed budget
    |
0016|     available to the public at least fourteen days prior to the
    |
0017|     hearing.
    |
0018|          Section 24.  [<u>NEW MATERIAL</u>]  RULES AND REGULATIONS.--
    |
0019|               A.  The board may adopt and enforce reasonable rules
    |
0020|     and regulations necessary to conduct its business, including:
    |
0021|                    (1)  securing and maintaining safety and
    |
0022|     efficiency in the operation and maintenance of its facilities;
    |
0023|                    (2)  governing the use of the authority's
    |
0024|     facilities and services by the public and the payment of fares; 
    |
0025|                    (3)  regulating privileges on any land,
    |
0001|     easement, right of way or other property owned or controlled by
    |
0002|     the authority; and
    |
0003|                    (4)  employing qualified persons as necessary
    |
0004|     to carry out the purpose of the Regional Transit Authority Act. 
    |
0005|     
    |
0006|               B.  Regulations adopted by the board shall be
    |
0007|     published once a week for two consecutive weeks in a newspaper
    |
0008|     of general circulation in the area in which the authority is
    |
0009|     located.  Rules and regulations shall become effective ten days
    |
0010|     following the last publication.
    |
0011|          Section 25.  [<u>NEW MATERIAL</u>]  CONTRACTS FOR CONSTRUCTION,
    |
0012|     GOODS OR SERVICES.--The board shall establish purchasing
    |
0013|     guidelines, including rules governing a competitive bid
    |
0014|     process; provided that the board shall not secure a contract
    |
0015|     that is not subject to competitive bidding requirements or that
    |
0016|     is for the purchase of real property or for professional
    |
0017|     services until an announcement that a contract is being
    |
0018|     considered is posted in a prominent place in the principal
    |
0019|     office of the authority for at least two weeks before the
    |
0020|     contract is awarded.
    |
0021|          Section 26.  [<u>NEW MATERIAL</u>]  CONDUCT OF ELECTIONS.--
    |
0022|               A.  Notwithstanding initial elections necessary to
    |
0023|     confirm the creation of an authority, board elections shall be
    |
0024|     conducted at the time of the general election under the
    |
0025|     direction of the municipal or county clerk and in accordance
    |
0001|     with the provisions of the Election Code.
    |
0002|               B.  Notice of the election shall be given by
    |
0003|     publication.
    |
0004|               C.  All polling places shall be within the area
    |
0005|     included within the authority.
    |
0006|               D.  The secretary of the authority shall provide to
    |
0007|     each municipal or county clerk supplies and assistance
    |
0008|     necessary to conduct an election for membership on the board,
    |
0009|     as authorized by the Regional Transit Authority Act.   
    |
0010|          Section 27.  [<u>NEW MATERIAL</u>]  EXEMPTION FROM TAXES.--The
    |
0011|     property, revenues and income of an authority and the interest
    |
0012|     on bonds issued by an authority shall be exempt from all taxes
    |
0013|     levied by the state and its political subdivisions.
    |
0014|          Section 28.  [<u>NEW MATERIAL</u>]  CONSTRUCTION OF ACT.--The
    |
0015|     Regional Transit Authority Act shall be liberally construed to
    |
0016|     carry out the purpose of that act.
    |
0017|          Section 29.  A new section of the Tax Administration Act
    |
0018|     is enacted to read:
    |
0019|          "[<u>NEW MATERIAL</u>]  TRANSFER--REVENUES FROM REGIONAL
    |
0020|     TRANSIT GROSS RECEIPTS TAXES.--A transfer pursuant to Section
    |
0021|     7-1-6.1 NMSA 1978 shall be made to each regional transit
    |
0022|     authority for which the department is collecting a regional
    |
0023|     transit gross receipts tax in an amount equal to the net
    |
0024|     receipts attributable to the regional transit gross receipts
    |
0025|     tax imposed by that authority pursuant to the Regional Transit
    |
0001|     Authority Act less any deductions for administrative costs
    |
0002|     determined and made by the department pursuant to the
    |
0003|     provisions of that act."
    |
0004|          Section 30.  Section 6-14-2 NMSA 1978 (being Laws 1970,
    |
0005|     Chapter 10, Section 2, as amended) is amended to read:
    |
0006|          "6-14-2.  DEFINITIONS.--As used in the Public Securities
    |
0007|     Act:
    |
0008|               A.  "net effective interest rate" means the interest
    |
0009|     rate based on the actual price paid to a public body for its
    |
0010|     public securities, calculated to maturity according to standard
    |
0011|     tables of bond values;
    |
0012|               B.  "public body" means this state or any
    |
0013|     department, board, agency or instrumentality of the state, any
    |
0014|     county, city, town, village, school district, other district,
    |
0015|     educational institution or any other governmental agency or
    |
0016|     political subdivision of the state; and
    |
0017|               C.  "public securities" means any bonds, notes,
    |
0018|     warrants or other obligations now or hereafter authorized to be
    |
0019|     issued by any public body pursuant to the provisions of any
    |
0020|     general or special law enacted by the legislature, but does not
    |
0021|     include bonds, notes, warrants or other obligations issued
    |
0022|     pursuant to:
    |
0023|                    (1)  the Industrial Revenue Bond Act;
    |
0024|                    (2)  the County Improvement District Act;
    |
0025|                    (3)  Sections 3-33-1 through 3-33-43 NMSA 1978;
    |
0001|                    (4)  the Pollution Control Revenue Bond Act;
    |
0002|                    (5)  the County Pollution Control Revenue Bond
    |
0003|     Act;
    |
0004|                    (6)  the County Industrial Revenue Bond Act;
    |
0005|                    (7)  the Metropolitan Redevelopment Code;
    |
0006|                    (8)  the Supplemental Municipal Gross Receipts
    |
0007|     Tax Act;
    |
0008|     <u>              (9)  the Regional Transit Authority Act;</u>
    |
0009|                    <s>[(9)]</s> <u>(10)</u>  the Hospital Equipment Loan
    |
0010|     Act; or
    |
0011|                    <s>[(10)]</s> <u>(11)</u>  the New Mexico Finance
    |
0012|     Authority Act."
    |
0013|          Section 31.  Section 6-18-4 NMSA 1978 (being Laws 1983,
    |
0014|     Chapter 161, Section 4, as amended) is amended to read:
    |
0015|          "6-18-4.  DEFINITIONS.--As used in the Public Securities
    |
0016|     Short-Term Interest Rate Act, unless the context otherwise
    |
0017|     requires:
    |
0018|               A.  "bond" means any bond, debenture, note,
    |
0019|     refunding or renewal bond or note, warrant or other security
    |
0020|     evidencing an obligation authorized to be issued by a public
    |
0021|     body pursuant to any provision of law of this state, including
    |
0022|     the Public Securities Short-Term Interest Rate Act;
    |
0023|               B.  "governing body" means the city council or other
    |
0024|     body or officer of a public body in which the legislative
    |
0025|     powers are vested;
    |
0001|               C.  "indebtedness" means any debt evidenced by a
    |
0002|     bond issued by a public body pursuant to any law of this state
    |
0003|     that constitutes a debt for the purposes of Section 12 or 13 of
    |
0004|     Article 9 of the constitution of New Mexico and the issuance of
    |
0005|     which must be submitted to a vote of the qualified electors of
    |
0006|     the public body pursuant to those sections and any bond issued
    |
0007|     for the purpose of paying or refunding any such bond;
    |
0008|               D.  "bond legislation" means an ordinance or a
    |
0009|     resolution or other appropriate enactment adopted by a
    |
0010|     governing body <s>[of a public body]</s> providing for the
    |
0011|     authorization or sale of bonds and any trust agreement, credit
    |
0012|     agreement, letter of credit, reimbursement agreement or other
    |
0013|     credit facility, dealer agreement, issuing or paying agent
    |
0014|     agreement, purchase commitment agreement, escrow agreement,
    |
0015|     remarketing agreement, index agent agreement or other agreement
    |
0016|     with respect to the bonds to which the public body or trustee
    |
0017|     for the bonds is a party; and
    |
0018|               E.  "public body" means any municipality, any
    |
0019|     county, any school district, any special district, any H class
    |
0020|     county <s>[located in New Mexico]</s>, the New Mexico hospital
    |
0021|     equipment loan council, state institutions enumerated in
    |
0022|     Section 6-13-2 NMSA 1978, the water quality control commission,
    |
0023|     the state board of finance, the New Mexico finance authority,
    |
0024|     <u>a regional transit authority created pursuant to the Regional
</u>    |
<u></u>0025| <u>    Transit Authority Act</u> or the state."
    |
0001|          Section 32.  EFFECTIVE DATE.--The effective date of the
    |
0002|     provisions of this act is July 1, 1997.
    |
0003|                                - 32 -                       State of New Mexico
    |
0004|                      House of Representatives
    |
0005|   
    |
0006|                      FORTY-THIRD LEGISLATURE
    |
0007|                        FIRST SESSION, 1997
    |
0008|   
    |
0009|   
    |
0010|                                               February 20, 1997
    |
0011|   
    |
0012|   
    |
0013|   Mr. Speaker:
    |
0014|   
    |
0015|        Your TRANSPORTATION COMMITTEE, to whom has been
    |
0016|   referred
    |
0017|   
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0018|                        HOUSE BILL 669
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0019|   
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0020|   has had it under consideration and reports same with
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0021|   recommendation that it DO PASS, amended as follows:
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0022|   
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0023|        1.  On page 3, line 8, strike "municipality" and insert in
    |
0024|   lieu thereof "principal city".

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0025|   
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0001|        2.  On page 4, line 7, strike "consists" and insert in lieu
    |
0002|   thereof "may consist".
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0003|   
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0004|        3.  On page 8, strike lines 3 through 8 and insert in lieu
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0005|   thereof: 
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0006|   
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0007|   "If only two political subdivisions vote to participate in the
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0008|   authority, the principal city shall have three of the five board
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0009|   members.  If three political subdivisions vote to participate in
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0010|   the authority, the principal city shall have one more than the
    |
0011|   total number of board seats held by the other two participating
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0012|   political subdivisions.  If four or more political subdivisions
    |
0013|   vote to join the authority, each political subdivision shall have
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0014|   at least one member.  Each subdivision shall also have one
    |
0015|   additional member if, based on the last two-year census, that
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0016|   subdivision has a population between fifty thousand one and one
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0017|   hundred thousand residents; two additional members if that
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0018|   subdivision has a population between one hundred thousand one and
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0019|   one hundred fifty thousand residents.  However, no political
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0020|   subdivision shall have more than one less than a majority of the
    |
0021|   membership on the board.  For purposes of representation on the
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0022|   board, the population of incorporated municipalities within a
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0023|   county shall not be counted toward the population of the
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0024|   county.".
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0025|   
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0001|        5.  On page 14, line 12, after "tax" insert "and transit
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0002|   revenue bonds".
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0003|   
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0004|        6.  On page 15, line 8, strike "or" and strike the remainder
    |
0005|   of the line, and strike line 9 through the comma.
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0006|   
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0007|        7.  On page 16, line 21, after "capital" insert
    |
0008|   "improvements".,
    |
0009|   
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0010|   and thence referred to the TAXATION AND REVENUE
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0011|   COMMITTEE.
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0012|   
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0013|                                 Respectfully submitted,
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0014|   
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0015|   
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0016|   
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0017|                                 <u>                                
</u>    |
<u></u>0018| <u>  
</u>    |
<u></u>0019| <u>                                </u>                             Daniel P. Silva, Chairman
    |
0020|   
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0021|   
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0022|   Adopted <u>                    </u>     Not Adopted <u>                    
</u>    |
<u></u>0023| <u>   </u>
    |
0024|             (Chief Clerk)                       (Chief Clerk)
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0025|   
    |
0001|                        Date <u>            </u>
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0002|   
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0003|   The roll call vote was<u> 9 </u> For<u> 0 </u> Against
    |
0004|   Yes:      9
    |
0005|             Excused:  Carpenter
    |
0006|             Absent:   Russell, Whitaker
    |
0007|   
    |
0008|   
    |
0009|                                                       .116968.1
    |
0010|   G:\BILLTEXT\BILLW_97\H0669        HOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE FOR
    |
0011|                            HOUSE BILL 669
    |
0012|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
    |
0013|     
    |
0014|     
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0015|     
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0016|                                   
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0017|     
    |
0018|     
    |
0019|     
    |
0020|                                AN ACT
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0021|     RELATING TO TRANSPORTATION; ENACTING THE REGIONAL TRANSIT
    |
0022|     AUTHORITY ACT; AUTHORIZING THE CREATION OF REGIONAL TRANSIT
    |
0023|     AUTHORITIES; PROVIDING THE POWERS AND DUTIES OF A REGIONAL
    |
0024|     TRANSIT AUTHORITY; AUTHORIZING THE IMPOSITION OF A GROSS
    |
0025|     RECEIPTS TAX; AUTHORIZING ISSUANCE OF REGIONAL TRANSIT REVENUE
    |
0001|     BONDS; AMENDING AND ENACTING SECTIONS OF THE NMSA 1978.

    |
0002|     
    |
0003|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
    |
0004|          Section 1.  [NEW MATERIAL<u>]  SHORT TITLE.--Sections 1
</u>    |
<u></u>0005| <u>    through 27 of this act may be cited as the "Regional Transit
</u>    |
<u></u>0006| <u>    Authority Act".
</u>    |
<u></u>0007| <u>         Section 2.  [</u>NEW MATERIAL<u>]  PURPOSE.--The purpose of the
</u>    |
<u></u>0008| <u>    Regional Transit Authority Act is to:
</u>    |
<u></u>0009| <u>              A.  serve the public welfare by providing for the
</u>    |
<u></u>0010| <u>    creation of a comprehensive network of safe, efficient and
</u>    |
<u></u>0011| <u>    affordable public transportation within a metropolitan area; 
</u>    |
<u></u>0012| <u>              B.  provide a public transit system to reduce the
</u>    |
<u></u>0013| <u>    congestion of single-occupancy motor vehicle passenger traffic
</u>    |
<u></u>0014| <u>    in a metropolitan area by providing transportation options for
</u>    |
<u></u>0015| <u>    residents;   
</u>    |
<u></u>0016| <u>              C.  decrease automobile accidents by reducing
</u>    |
<u></u>0017| <u>    traffic congestion on freeways and streets; 
</u>    |
<u></u>0018| <u>              D.  reduce noise and air pollution produced by motor
</u>    |
<u></u>0019| <u>    vehicles; and
</u>    |
<u></u>0020| <u>              E.  provide residents with a choice of
</u>    |
<u></u>0021| <u>    transportation alternatives, so that seniors, youth, low-income
</u>    |
<u></u>0022| <u>    and mobility-impaired residents and others unable to drive or
</u>    |
<u></u>0023| <u>    to afford an automobile continue to have full access to the
</u>    |
<u></u>0024| <u>    goods, services and activities of the community. 
</u>    |
<u></u>0025| <u>         Section 3.  [</u>NEW MATERIAL<u>]  DEFINITIONS.--As used in the
</u>    |
<u></u>0001| <u>    Regional Transit Authority Act:
</u>    |
<u></u>0002| <u>              A.  "authority" means a regional transit authority
</u>    |
<u></u>0003| <u>    created pursuant to the provisions of the Regional Transit
</u>    |
<u></u>0004| <u>    Authority Act;
</u>    |
<u></u>0005| <u>              B.  "board" means a regional transit authority
</u>    |
<u></u>0006| <u>    board;
</u>    |
<u></u>0007| <u>              C.  "condemn" or "condemnation" means the
</u>    |
<u></u>0008| <u>    acquisition of property or an interest in property by a
</u>    |
<u></u>0009| <u>    regional transit authority through the exercise of the power of
</u>    |
<u></u>0010| <u>    eminent domain;
</u>    |
<u></u>0011| <u>              D.  "department" means the taxation and revenue
</u>    |
<u></u>0012| <u>    department, the secretary of taxation and revenue or any
</u>    |
<u></u>0013| <u>    employee of the department exercising authority lawfully delegated
</u>    |
<u></u>0014| <u>    to that employee by the secretary;
</u>    |
<u></u>0015| <u>              E.  "governing body" means the city council, city
</u>    |
<u></u>0016| <u>    commission, board of commissioners, board of trustees, board of
</u>    |
<u></u>0017| <u>    directors or other legislative body of a municipality or county in
</u>    |
<u></u>0018| <u>    which the legislative powers of the public body are vested;
</u>    |
<u></u>0019| <u>              F.  "high-occupancy vehicle" means any vehicle carrying
</u>    |
<u></u>0020| <u>    more than one person, including buses, vans, cars and passenger
</u>    |
<u></u>0021| <u>    trains;
</u>    |
<u></u>0022| <u>              G.  "metropolitan area" means an area consisting of at
</u>    |
<u></u>0023| <u>    least two contiguous counties, one of which has a principal city
</u>    |
<u></u>0024| <u>    with a population in excess of twenty thousand or has a principal
</u>    |
<u></u>0025| <u>    city with a population of no more than five thousand that
</u>    |
<u></u>0001| <u>    currently operates a public transit system;
</u>    |
<u></u>0002| <u>              H.  "motor vehicle" means a self-propelled vehicle
</u>    |
<u></u>0003| <u>    suitable for operation on highways;
</u>    |
<u></u>0004| <u>              I.  "municipality" means any incorporated city, town or
</u>    |
<u></u>0005| <u>    village, whether incorporated under general act, special act or
</u>    |
<u></u>0006| <u>    special charter;
</u>    |
<u></u>0007| <u>              J.  "person" means an individual or any other legal
</u>    |
<u></u>0008| <u>    entity;
</u>    |
<u></u>0009| <u>              K.  "principal city" means the city of largest
</u>    |
<u></u>0010| <u>    population within a metropolitan area;
</u>    |
<u></u>0011| <u>              L.  "public transit system" means a public transit
</u>    |
<u></u>0012| <u>    network that transports passengers by means of high-occupancy
</u>    |
<u></u>0013| <u>    vehicles that is created and administered by an authority; and
</u>    |
<u></u>0014| <u>              M.  "regional transit gross receipts tax" means the
</u>    |
<u></u>0015| <u>    gross receipts tax imposed pursuant to the Regional Transit
</u>    |
<u></u>0016| <u>    Authority Act.
</u>    |
<u></u>0017| <u>         Section 4.  [</u>NEW MATERIAL<u>]  CREATION OF TRANSIT AUTHORITY-
</u>    |
<u></u>0018| <u>    -NOTICE AND HEARING.--
</u>    |
<u></u>0019| <u>              A.  The governing body of a principal city in a
</u>    |
<u></u>0020| <u>    metropolitan area may institute proceedings to create an authority
</u>    |
<u></u>0021| <u>    in the manner prescribed in the Regional Transit Authority Act.  
</u>    |
<u></u>0022| <u>              B.  The proposed authority may consist of the principal
</u>    |
<u></u>0023| <u>    city and additional adjacent counties or municipalities in the
</u>    |
<u></u>0024| <u>    metropolitan area outside of the county where the principal city
</u>    |
<u></u>0025| <u>    is located, provided that the entirety of the territory of each
</u>    |
<u></u>0001| <u>    county or municipality is included.
</u>    |
<u></u>0002| <u>              C.  Upon a finding that a metropolitan area lacks
</u>    |
<u></u>0003| <u>    adequate public transportation infrastructure, a majority of the
</u>    |
<u></u>0004| <u>    members of the governing body of the principal city may adopt a
</u>    |
<u></u>0005| <u>    resolution proposing to create an authority, determining the
</u>    |
<u></u>0006| <u>    territorial area of the proposed authority and fixing the time and
</u>    |
<u></u>0007| <u>    place that the governing body will conduct a public hearing on the
</u>    |
<u></u>0008| <u>    proposal.  The governing body of the principal city shall not
</u>    |
<u></u>0009| <u>    adopt a resolution proposing creation of an authority without the
</u>    |
<u></u>0010| <u>    concurrence of a majority of the members of the governing body of
</u>    |
<u></u>0011| <u>    each county and municipality it proposes to include within that
</u>    |
<u></u>0012| <u>    area.
</u>    |
<u></u>0013| <u>              D.  Notice of the time and place of the public hearing,
</u>    |
<u></u>0014| <u>    including a copy of the resolution setting out the territorial
</u>    |
<u></u>0015| <u>    area of the proposed authority, shall be sent by registered mail
</u>    |
<u></u>0016| <u>    to each governing body included in the proposed authority area. 
</u>    |
<u></u>0017| <u>    Notice of the public hearing and a copy of the resolution shall be
</u>    |
<u></u>0018| <u>    published by each county and municipality once a week for two
</u>    |
<u></u>0019| <u>    consecutive weeks in at least one newspaper of general circulation
</u>    |
<u></u>0020| <u>    in the metropolitan area.  The first publication shall be not less
</u>    |
<u></u>0021| <u>    than fifteen days prior to the date fixed for the hearing.  Copies
</u>    |
<u></u>0022| <u>    of the notice and resolution shall also be available upon request
</u>    |
<u></u>0023| <u>    to interested persons in the metropolitan area.
</u>    |
<u></u>0024| <u>              E.  At the public hearing, representatives of
</u>    |
<u></u>0025| <u>    municipalities and counties in the metropolitan area and other
</u>    |
<u></u>0001| <u>    interested persons may present evidence for or against the
</u>    |
<u></u>0002| <u>    creation of the proposed authority and for or against the need for
</u>    |
<u></u>0003| <u>    construction or expansion of a public transit system in the
</u>    |
<u></u>0004| <u>    metropolitan area.  
</u>    |
<u></u>0005| <u>              F.  If, after hearing all evidence at the public
</u>    |
<u></u>0006| <u>    hearing, the governing body of the principal city finds that the
</u>    |
<u></u>0007| <u>    creation of an authority and the construction and operation of a
</u>    |
<u></u>0008| <u>    public transit system is necessary for the public health and
</u>    |
<u></u>0009| <u>    welfare and will benefit residents of the area, the governing body
</u>    |
<u></u>0010| <u>    shall adopt a resolution proposing creation of the authority
</u>    |
<u></u>0011| <u>    subject to approval by the voters at a confirmation election,
</u>    |
<u></u>0012| <u>    naming the authority, prescribing the territorial area of the
</u>    |
<u></u>0013| <u>    authority and providing for appointment of an interim board.
</u>    |
<u></u>0014| <u>              G.  If, after hearing all evidence at the public
</u>    |
<u></u>0015| <u>    hearing, the governing body of the principal city finds that the
</u>    |
<u></u>0016| <u>    creation of the authority and the construction and operation of a
</u>    |
<u></u>0017| <u>    public transit system in the metropolitan area are not necessary
</u>    |
<u></u>0018| <u>    for the public health and welfare and would not benefit the
</u>    |
<u></u>0019| <u>    residents of the metropolitan area, it shall not create the
</u>    |
<u></u>0020| <u>    authority. 
</u>    |
<u></u>0021| <u>              H.  If the principal city adopts a resolution proposing
</u>    |
<u></u>0022| <u>    creation of an authority, it shall submit that resolution to each
</u>    |
<u></u>0023| <u>    governing body within the area of the proposed authority.  Each
</u>    |
<u></u>0024| <u>    governing body included shall, within sixty days, approve or
</u>    |
<u></u>0025| <u>    disapprove by resolution their inclusion in the proposed
</u>    |
<u></u>0001| <u>    authority.  Failure to adopt a resolution in favor of inclusion
</u>    |
<u></u>0002| <u>    shall result in that jurisdiction being excluded from the initial
</u>    |
<u></u>0003| <u>    confirmation election.
</u>    |
<u></u>0004| <u>              I.  Nothing in the Regional Transit Authority Act shall
</u>    |
<u></u>0005| <u>    be construed to prevent or impair the operation of a public
</u>    |
<u></u>0006| <u>    transit system in existence prior to the passage of this act.
</u>    |
<u></u>0007| <u>         Section 5.  [</u>NEW MATERIAL<u>] REGIONAL TRANSIT AUTHORITY
</u>    |
<u></u>0008| <u>    BOARD--MEMBERSHIP AND TERMS OF OFFICE.--
</u>    |
<u></u>0009| <u>              A.  An interim board representing the governing bodies
</u>    |
<u></u>0010| <u>    that have approved, by resolution, their inclusion in the proposed
</u>    |
<u></u>0011| <u>    authority shall be appointed within thirty days following the
</u>    |
<u></u>0012| <u>    adoption of those resolutions.  Interim board members shall serve
</u>    |
<u></u>0013| <u>    until January 1 of the year following the general election at
</u>    |
<u></u>0014| <u>    which the first regular board members are elected.  The appointed
</u>    |
<u></u>0015| <u>    interim board members shall have the same proportional
</u>    |
<u></u>0016| <u>    representation as the elected regular board members, and shall
</u>    |
<u></u>0017| <u>    have the same powers and duties and be subject to the same
</u>    |
<u></u>0018| <u>    provisions of the Regional Transit Authority Act as regular board
</u>    |
<u></u>0019| <u>    members.  Each interim board member serves at the pleasure of the
</u>    |
<u></u>0020| <u>    appointing governing body.
</u>    |
<u></u>0021| <u>              B.  Regular board members shall be elected at a special
</u>    |
<u></u>0022| <u>    election held at the same time as the general election, with the
</u>    |
<u></u>0023| <u>    initial regular members being elected at a special election
</u>    |
<u></u>0024| <u>    conducted at the same time as the first general election after the
</u>    |
<u></u>0025| <u>    confirmation election provided for in Section 6 of the Regional
</u>    |
<u></u>0001| <u>    Transit Authority Act.  Board members shall serve terms of four
</u>    |
<u></u>0002| <u>    years.  Prior to the election of the permanent board, the interim
</u>    |
<u></u>0003| <u>    board shall determine by lot which half of the regular members
</u>    |
<u></u>0004| <u>    shall serve initial two- and four-year terms.  After the first
</u>    |
<u></u>0005| <u>    election, all board members shall be elected for four-year terms.
</u>    |
<u></u>0006| <u>              C.  A board shall consist of at least five members.  If
</u>    |
<u></u>0007| <u>    a total of two counties and municipalities participate in an
</u>    |
<u></u>0008| <u>    authority, the principal city shall have three of the five board
</u>    |
<u></u>0009| <u>    members.  If a total of three counties or municipalities vote to
</u>    |
<u></u>0010| <u>    participate in an authority, the principal city shall have one
</u>    |
<u></u>0011| <u>    more than the total number of board seats held by the other two
</u>    |
<u></u>0012| <u>    participants.  If a total of four or more counties or
</u>    |
<u></u>0013| <u>    municipalities vote to join the authority, each participant shall
</u>    |
<u></u>0014| <u>    have at least one member.  Each participant shall also have one
</u>    |
<u></u>0015| <u>    additional member if, based on the last two-year supplemental
</u>    |
<u></u>0016| <u>    federal decennial census, that participant has a population
</u>    |
<u></u>0017| <u>    between fifty thousand one and one hundred thousand residents or
</u>    |
<u></u>0018| <u>    two additional members if that participant has a population
</u>    |
<u></u>0019| <u>    between one hundred thousand one and one hundred fifty thousand
</u>    |
<u></u>0020| <u>    residents.  No participant shall have a majority of the membership
</u>    |
<u></u>0021| <u>    on the board, unless there are only two participants.  For
</u>    |
<u></u>0022| <u>    purposes of representation on the board, the population of
</u>    |
<u></u>0023| <u>    incorporated municipalities within a county shall not be counted
</u>    |
<u></u>0024| <u>    toward the population of the county.
</u>    |
<u></u>0025| <u>              D.  Vacancies on the board shall be filled for the
</u>    |
<u></u>0001| <u>    remainder of the term in the manner provided for the original
</u>    |
<u></u>0002| <u>    appointment of the interim board.  Upon expiration of the term of
</u>    |
<u></u>0003| <u>    office of each member of the board, a member may seek office for
</u>    |
<u></u>0004| <u>    the succeeding term.
</u>    |
<u></u>0005| <u>              E.  Board members shall be reimbursed for per diem and
</u>    |
<u></u>0006| <u>    mileage as provided for public officers in the Per Diem and
</u>    |
<u></u>0007| <u>    Mileage Act.
</u>    |
<u></u>0008| <u>              F.  Board members shall be residents and qualified
</u>    |
<u></u>0009| <u>    voters of the counties or municipalities that they represent.
</u>    |
<u></u>0010| <u>              G.  Board members shall select annually from among
</u>    |
<u></u>0011| <u>    their membership a chairman, a vice chairman and a secretary, and
</u>    |
<u></u>0012| <u>    other officers as they deem necessary.  No member of the board or
</u>    |
<u></u>0013| <u>    officer of the authority shall have pecuniary interest in or
</u>    |
<u></u>0014| <u>    benefit directly or indirectly from any contract or agreement to
</u>    |
<u></u>0015| <u>    which the authority is a party.  
</u>    |
<u></u>0016| <u>              H.  The board shall meet at least once a month for the
</u>    |
<u></u>0017| <u>    purpose of transacting the business of the authority.  In addition
</u>    |
<u></u>0018| <u>    to regularly scheduled meetings, the chairman may call special
</u>    |
<u></u>0019| <u>    meetings as may be necessary upon written notice at least ten days
</u>    |
<u></u>0020| <u>    prior to the meeting.  A majority of the members shall constitute
</u>    |
<u></u>0021| <u>    a quorum of the board for the purpose of conducting its business
</u>    |
<u></u>0022| <u>    and exercising its powers.
</u>    |
<u></u>0023| <u>              I.  A member of the board may be removed from office
</u>    |
<u></u>0024| <u>    for nonfeasance, misfeasance or malfeasance in office by the
</u>    |
<u></u>0025| <u>    governing body that it represents, or by a majority of the
</u>    |
<u></u>0001| <u>    permanent board.
</u>    |
<u></u>0002| <u>         Section 6.  [</u>NEW MATERIAL<u>]  CONFIRMATION ELECTION.--
</u>    |
<u></u>0003| <u>              A.  Within thirty days of its appointment, the interim
</u>    |
<u></u>0004| <u>    board shall adopt a resolution calling for a confirmation election
</u>    |
<u></u>0005| <u>    to be held no later than one hundred eighty days from the date of
</u>    |
<u></u>0006| <u>    the adoption of that resolution.  The confirmation election shall
</u>    |
<u></u>0007| <u>    be conducted by the county or municipal clerk of each governing
</u>    |
<u></u>0008| <u>    body that has approved, by resolution, their inclusion in the
</u>    |
<u></u>0009| <u>    proposed authority.  The election shall be held to determine
</u>    |
<u></u>0010| <u>    whether a majority of the voters approve the creation of an
</u>    |
<u></u>0011| <u>    authority and the imposition of a regional transit gross receipts
</u>    |
<u></u>0012| <u>    tax to fund the creation of a regional transit system.
</u>    |
<u></u>0013| <u>              B.  The question submitted to the voters at the
</u>    |
<u></u>0014| <u>    confirmation election shall be:
</u>    |
<u></u>0015| <u>         "Shall the creation of the </u>    (name of the authority)   <u>,
</u>    |
<u></u>0016| <u>    consisting of </u>    (names of counties and municipalities to be
    |
0017|     included)<u>, be confirmed and shall the board of the authority be
</u>    |
<u></u>0018| <u>    authorized to impose a regional transit gross receipts tax in the
</u>    |
<u></u>0019| <u>    amount of _______ percent of gross receipts not to exceed one-
</u>    |
<u></u>0020| <u>    fourth of one percent of the gross receipts on persons engaging in
</u>    |

<u></u>0021| <u>    business in the authority area, to fund a public transit system
</u>    |
<u></u>0022| <u>    and provide public transit services in the metropolitan area?    
</u>    |
<u></u>0023| <u>              _____   Yes       _____   No".
</u>    |
<u></u>0024| <u>              C.  The election shall be conducted so that votes are
</u>    |
<u></u>0025| <u>    separately tabulated and canvassed in each county and municipality
</u>    |
<u></u>0001| <u>    where the election is held.        
</u>    |
<u></u>0002| <u>              D.  Those counties or municipalities in which a
</u>    |
<u></u>0003| <u>    majority of the voters voting on the question votes against the
</u>    |
<u></u>0004| <u>    confirmation of the creation of the authority and the levy of the
</u>    |
<u></u>0005| <u>    proposed tax shall not become part of the authority.  A
</u>    |
<u></u>0006| <u>    municipality that votes against the creation of the authority and
</u>    |
<u></u>0007| <u>    the levy of the proposed tax shall not become part of the
</u>    |
<u></u>0008| <u>    authority if the county in which the municipality is located votes
</u>    |
<u></u>0009| <u>    to join the authority.  Those counties or municipalities where a
</u>    |
<u></u>0010| <u>    majority of the voters voting on the question votes in favor of
</u>    |
<u></u>0011| <u>    the creation of the authority and the levy of the proposed tax
</u>    |
<u></u>0012| <u>    shall become part of the authority.
</u>    |
<u></u>0013| <u>              E.  If the vote is not favorable in the principal city
</u>    |
<u></u>0014| <u>    that initiated the confirmation election, the authority shall not
</u>    |
<u></u>0015| <u>    be created.  
</u>    |
<u></u>0016| <u>              F.  The expense of calling and conducting the 
</u>    |
<u></u>0017| <u>    confirmation election shall be borne by the principal city. 
</u>    |
<u></u>0018| <u>    However, if the election results in the creation of an authority,
</u>    |
<u></u>0019| <u>    the authority shall reimburse the principal city for all
</u>    |
<u></u>0020| <u>    expenditures made in the course of calling and conducting the
</u>    |
<u></u>0021| <u>    election within twelve months after the date on which collection
</u>    |
<u></u>0022| <u>    of the tax for the authority begins.
</u>    |
<u></u>0023| <u>              G.  At any time after the confirmation election, the
</u>    |
<u></u>0024| <u>    board may call an election to increase the gross receipts tax levy
</u>    |
<u></u>0025| <u>    for the purpose of expanding transit services, subject to the
</u>    |
<u></u>0001| <u>    provisions of the Regional Transit Authority Act limiting the
</u>    |
<u></u>0002| <u>    aggregate rate of the regional transit gross receipts tax.  The
</u>    |
<u></u>0003| <u>    expense of calling and conducting the election shall be borne by
</u>    |
<u></u>0004| <u>    the authority.  If a majority of the voters voting in the election
</u>    |
<u></u>0005| <u>    votes in favor of the increase, that additional gross receipts tax
</u>    |
<u></u>0006| <u>    shall be imposed.  If a majority of the voters voting in the
</u>    |
<u></u>0007| <u>    election votes against the increase in the tax, the additional
</u>    |
<u></u>0008| <u>    gross receipts tax shall not be imposed, and the authority shall
</u>    |
<u></u>0009| <u>    not again propose to increase the tax for a period of at least two
</u>    |
<u></u>0010| <u>    years from the date of that election.
</u>    |
<u></u>0011| <u>              H.  The dates on which the authority may be established
</u>    |
<u></u>0012| <u>    or additional counties and municipalities may join or withdraw
</u>    |
<u></u>0013| <u>    from an authority shall be January 1 or July 1 immediately
</u>    |
<u></u>0014| <u>    following the election.
</u>    |
<u></u>0015| <u>         Section 7.  [</u>NEW MATERIAL<u>]  POWERS OF THE AUTHORITY.--
</u>    |
<u></u>0016| <u>              A.  An authority, when created and confirmed, shall
</u>    |
<u></u>0017| <u>    constitute a public body corporate and politic, exercising
</u>    |
<u></u>0018| <u>    governmental functions, having the power necessary to carry out
</u>    |
<u></u>0019| <u>    the purposes of the Regional Transit Authority Act.  
</u>    |
<u></u>0020| <u>              B.  An authority may sue and be sued in all courts of
</u>    |
<u></u>0021| <u>    competent jurisdiction.
</u>    |
<u></u>0022| <u>              C.  An authority may adopt and use a seal of the
</u>    |
<u></u>0023| <u>    authority.
</u>    |
<u></u>0024| <u>              D.  An authority may fix the fiscal year for the
</u>    |
<u></u>0025| <u>    authority.
</u>    |
<u></u>0001| <u>              E.  An authority may acquire property by grant,
</u>    |
<u></u>0002| <u>    purchase, gift, devise, lease or otherwise and may hold, use,
</u>    |
<u></u>0003| <u>    sell, lease or dispose of real and personal property as it deems
</u>    |
<u></u>0004| <u>    necessary for the full exercise of any of its powers pursuant to
</u>    |
<u></u>0005| <u>    the provisions of the Regional Transit Authority Act.
</u>    |
<u></u>0006| <u>              F.  An authority may acquire, construct, complete,
</u>    |
<u></u>0007| <u>    develop, own, operate and maintain a public transit system within
</u>    |
<u></u>0008| <u>    its boundaries, and both within and without the boundaries of
</u>    |
<u></u>0009| <u>    municipalities.  For the purpose of the system, the authority
</u>    |
<u></u>0010| <u>    shall have the right to use the streets, highways and other public
</u>    |
<u></u>0011| <u>    ways, and, with permission of the owner, to relocate or alter the
</u>    |
<u></u>0012| <u>    construction of any street, highway, other public way, electric
</u>    |
<u></u>0013| <u>    and telephone lines and properties, pipelines, conduits and other
</u>    |
<u></u>0014| <u>    properties, whether publicly or privately owned, if deemed
</u>    |
<u></u>0015| <u>    necessary by the authority in the construction, reconstruction,
</u>    |
<u></u>0016| <u>    repair, maintenance and operation of the system.  Any damage that
</u>    |
<u></u>0017| <u>    may occur to the property shall be borne by the authority. 
</u>    |
<u></u>0018| <u>              G.  An authority may enter into agreements with any
</u>    |
<u></u>0019| <u>    other public or private utility, communication system, common
</u>    |
<u></u>0020| <u>    carrier or transportation system for the joint use of their
</u>    |
<u></u>0021| <u>    respective facilities or properties within the authority and to
</u>    |
<u></u>0022| <u>    establish routes, joint fares or transfer of passengers.
</u>    |
<u></u>0023| <u>              H.  An authority may enter into contracts, leases and
</u>    |
<u></u>0024| <u>    agreements with and accept grants and loans from the federal
</u>    |
<u></u>0025| <u>    government, its departments and agencies, and the state and any of
</u>    |
<u></u>0001| <u>    its political subdivisions.  A revenue bond indenture may provide
</u>    |
<u></u>0002| <u>    limitations upon the exercise of the powers stated in this
</u>    |
<u></u>0003| <u>    section, and the limitations shall apply as long as any revenue
</u>    |
<u></u>0004| <u>    bonds issued pursuant to this indenture are outstanding and
</u>    |
<u></u>0005| <u>    unpaid.
</u>    |
<u></u>0006| <u>              I.  An authority may propose, for the construction,
</u>    |
<u></u>0007| <u>    operation and maintenance of a public transit system, the
</u>    |
<u></u>0008| <u>    imposition of a gross receipts tax on any person engaging in
</u>    |
<u></u>0009| <u>    business in the authority area, which shall not exceed an
</u>    |
<u></u>0010| <u>    aggregate rate of one-fourth of one percent.
</u>    |
<u></u>0011| <u>              J.  An authority may sell, lease, convey or otherwise
</u>    |
<u></u>0012| <u>    dispose of any of its rights, interests or real or personal
</u>    |
<u></u>0013| <u>    properties or surplus material not needed for the efficient
</u>    |
<u></u>0014| <u>    operation and maintenance of the public transit system.
</u>    |
<u></u>0015| <u>              K.  An authority may lease the public transit system or
</u>    |
<u></u>0016| <u>    any part of the system, or contract for the use or operation of
</u>    |
<u></u>0017| <u>    the system by an operator.
</u>    |
<u></u>0018| <u>              L.  An authority shall establish and maintain rates,
</u>    |
<u></u>0019| <u>    fares, tolls, charges, rents or other compensation for the use of
</u>    |
<u></u>0020| <u>    the facilities of the public transit system constructed, operated
</u>    |
<u></u>0021| <u>    and maintained by the authority, which shall be reasonable and
</u>    |
<u></u>0022| <u>    nondiscriminatory, and shall, together with the regional transit
</u>    |
<u></u>0023| <u>    gross receipts tax and regional transit revenue bonds, be adequate
</u>    |
<u></u>0024| <u>    to meet its financial obligations.
</u>    |
<u></u>0025| <u>              M.  An authority shall, by resolution, adopt rules
</u>    |
<u></u>0001| <u>    governing the use, operation and maintenance of the public transit
</u>    |
<u></u>0002| <u>    system and shall determine all routings whenever it is deemed
</u>    |
<u></u>0003| <u>    advisable by the authority.
</u>    |
<u></u>0004| <u>              N.  An authority may contract with a governing body to
</u>    |
<u></u>0005| <u>    provide public transit services to any area outside the boundaries
</u>    |
<u></u>0006| <u>    of the authority.
</u>    |
<u></u>0007| <u>              O.  An authority may acquire by purchase real property
</u>    |
<u></u>0008| <u>    and equipment necessary to develop a public transit system,
</u>    |
<u></u>0009| <u>    including station stops and complexes, maintenance and operating

</u>    |
<u></u>0010| <u>    facilities, transfer locations, bus stations and stops, internodal
</u>    |
<u></u>0011| <u>    facilities and office buildings.
</u>    |
<u></u>0012| <u>              P.  An authority may borrow money, issue bonds and
</u>    |
<u></u>0013| <u>    enter into contracts and finance leasing.  
</u>    |
<u></u>0014| <u>              Q.  An authority may invest funds of the authority in
</u>    |
<u></u>0015| <u>    direct or indirect obligations of the United States, the state or
</u>    |
<u></u>0016| <u>    any of its political subdivisions.
</u>    |
<u></u>0017| <u>         Section 8.  [</u>NEW MATERIAL<u>]  POWER OF EMINENT DOMAIN.--The
</u>    |
<u></u>0018| <u>    authority may exercise in the state the power of eminent domain, 
</u>    |
<u></u>0019| <u>    within the authority and in the manner provided by law for the
</u>    |
<u></u>0020| <u>    condemnation of private property for public use, and may take any
</u>    |
<u></u>0021| <u>    property necessary to carry out the purposes of the Regional
</u>    |
<u></u>0022| <u>    Transit Authority Act.
</u>    |
<u></u>0023| <u>         Section 9.  [</u>NEW MATERIAL<u>]  ADDITION OR WITHDRAWAL OF
</u>    |
<u></u>0024| <u>    TERRITORY BY AN AUTHORITY.--
</u>    |
<u></u>0025| <u>              A.  After the creation of the authority, a governing
</u>    |
<u></u>0001| <u>    body adjacent to but not part of the authority may, by resolution,
</u>    |
<u></u>0002| <u>    propose to join the authority, determine the territorial area to
</u>    |
<u></u>0003| <u>    become a part of that authority and fix the time and place that
</u>    |
<u></u>0004| <u>    the governing body will conduct a public hearing on the proposal,
</u>    |
<u></u>0005| <u>    as provided for in Section 4 of the Regional Transit Authority
</u>    |
<u></u>0006| <u>    Act.  If a majority of voters voting on the question votes in
</u>    |
<u></u>0007| <u>    favor of the annexation, the municipal or county clerk shall
</u>    |
<u></u>0008| <u>    certify the results of the election to the board, and the area
</u>    |
<u></u>0009| <u>    shall become a part of the authority.
</u>    |
<u></u>0010| <u>              B.  If a city or town that is a part of an authority
</u>    |
<u></u>0011| <u>    lawfully annexes additional territory that is not a part of the
</u>    |
<u></u>0012| <u>    authority, the annexed territory shall become a part of the
</u>    |
<u></u>0013| <u>    authority.
</u>    |
<u></u>0014| <u>              C.  A county or municipality that is a part of the
</u>    |
<u></u>0015| <u>    authority can withdraw from the authority by submitting to the
</u>    |
<u></u>0016| <u>    voters the question:  "Should </u>(name of county or municipality)<u>
</u>    |
<u></u>0017| <u>    withdraw from the </u>(name of authority)<u>?".  If a majority of
</u>    |
<u></u>0018| <u>    voters voting on the question votes in favor of withdrawal, the
</u>    |
<u></u>0019| <u>    municipal or county clerk shall certify the results of the
</u>    |
<u></u>0020| <u>    election to the board and the county or municipality shall cease
</u>    |
<u></u>0021| <u>    to be a member of the authority and a board member from that
</u>    |
<u></u>0022| <u>    county or municipality shall cease to be a member of the board. 
</u>    |
<u></u>0023| <u>    The regional transit gross receipts tax shall continue until
</u>    |
<u></u>0024| <u>    either the bonds that are outstanding at the time of withdrawal
</u>    |
<u></u>0025| <u>    are paid in full, or the county or municipality negotiates an
</u>    |
<u></u>0001| <u>    agreement with the authority to provide funds sufficient to pay
</u>    |
<u></u>0002| <u>    its pro rata share of the debt service on bonds previously issued
</u>    |
<u></u>0003| <u>    to finance capital improvements, and to acquire authority property
</u>    |
<u></u>0004| <u>    lying within the bounds of the county or municipality but outside
</u>    |
<u></u>0005| <u>    the new boundaries of the authority.  Real property owned by the
</u>    |
<u></u>0006| <u>    authority that is within the boundaries of a withdrawing county or
</u>    |
<u></u>0007| <u>    municipality shall remain the property of the authority.  The
</u>    |
<u></u>0008| <u>    provisions of withdrawal shall be negotiated and agreed to by the
</u>    |
<u></u>0009| <u>    board, the withdrawing governing body and the department; however,
</u>    |
<u></u>0010| <u>    a municipality with a population of ten thousand or less shall not
</u>    |
<u></u>0011| <u>    be obligated for payment on outstanding bonds existing at the time
</u>    |
<u></u>0012| <u>    of withdrawal.
</u>    |
<u></u>0013| <u>              D.  After the initial confirmation election to
</u>    |
<u></u>0014| <u>    establish the authority, elections to join or withdraw shall be
</u>    |
<u></u>0015| <u>    paid for by the governing body that initiates the election. 
</u>    |
<u></u>0016| <u>         Section 10.  [</u>NEW MATERIAL<u>]  STATION OR TERMINAL
</u>    |
<u></u>0017| <u>    COMPLEXES.--
</u>    |
<u></u>0018| <u>              A.  Before a station or terminal complex may be
</u>    |
<u></u>0019| <u>    included in the system, the board shall determine that the
</u>    |
<u></u>0020| <u>    proposed station or terminal complex will provide efficient and
</u>    |
<u></u>0021| <u>    economical public transit service, will reduce vehicular
</u>    |
<u></u>0022| <u>    congestion and air pollution in the metropolitan area and is
</u>    |
<u></u>0023| <u>    reasonably essential to the successful operation of the system.  
</u>    |
<u></u>0024| <u>              B.  A station or terminal complex shall include
</u>    |
<u></u>0025| <u>    adequate provisions to transfer passengers between the various
</u>    |
<u></u>0001| <u>    modes of transportation available to the complex.  A proposed
</u>    |
<u></u>0002| <u>    station or terminal complex located within the city limits or
</u>    |
<u></u>0003| <u>    extraterritorial jurisdiction of a municipality shall first be
</u>    |
<u></u>0004| <u>    approved by the governing body of the municipality as to
</u>    |
<u></u>0005| <u>    conformity with the general plan of the municipality.
</u>    |
<u></u>0006| <u>         Section 11.  [</u>NEW MATERIAL<u>]  REGIONAL TRANSIT GROSS
</u>    |
<u></u>0007| <u>    RECEIPTS TAX--IMPOSITION--RATE AUTHORIZED.--
</u>    |
<u></u>0008| <u>              A.  Upon voter approval pursuant to the Regional
</u>    |
<u></u>0009| <u>    Transit Authority Act, the board may impose by resolution an
</u>    |
<u></u>0010| <u>    excise tax on any person engaging in business in the authority
</u>    |
<u></u>0011| <u>    area for the privilege of engaging in business, provided that
</u>    |
<u></u>0012| <u>    where a majority of voters in the county approves, by confirmation
</u>    |
<u></u>0013| <u>    election, their participation in the authority, the county clerk
</u>    |
<u></u>0014| <u>    shall not tax a municipality within that county that has not opted
</u>    |
<u></u>0015| <u>    to participate.  The rate of the tax shall not exceed the rate
</u>    |
<u></u>0016| <u>    approved by the voters.  The tax shall be referred to as the
</u>    |
<u></u>0017| <u>    "regional transit gross receipts tax".
</u>    |
<u></u>0018| <u>              B.  A tax imposed pursuant to this section may be
</u>    |
<u></u>0019| <u>    imposed in one-sixteenth of one percent or one-eighth of one
</u>    |
<u></u>0020| <u>    percent or any number of such increments by the enactment of one
</u>    |
<u></u>0021| <u>    or more resolutions, but the total regional transit gross receipts
</u>    |
<u></u>0022| <u>    tax rate imposed by all resolutions shall not exceed an aggregate
</u>    |
<u></u>0023| <u>    rate of one-fourth of one percent of the gross receipts on a
</u>    |
<u></u>0024| <u>    person engaging in business in the authority area.
</u>    |
<u></u>0025| <u>              C.  The board, at the time of enacting a resolution
</u>    |
<u></u>0001| <u>    imposing or changing the tax authorized in Subsection A of this
</u>    |
<u></u>0002| <u>    section, shall dedicate the revenue for the management,
</u>    |
<u></u>0003| <u>    construction or operation of the public transit system or for
</u>    |
<u></u>0004| <u>    specific public transit projects or services of the authority
</u>    |
<u></u>0005| <u>    pursuant to the Regional Transit Authority Act. 
</u>    |
<u></u>0006| <u>              D.  Any law that imposes or authorizes the imposition
</u>    |
<u></u>0007| <u>    of a regional transit gross receipts tax or that affects that tax,
</u>    |
<u></u>0008| <u>    or any law supplemental to or otherwise pertaining to that tax,
</u>    |
<u></u>0009| <u>    shall not be repealed or amended or otherwise directly or
</u>    |
<u></u>0010| <u>    indirectly modified in such a manner as to impair adversely any
</u>    |
<u></u>0011| <u>    outstanding regional transit revenue bonds that may be secured by
</u>    |
<u></u>0012| <u>    a pledge of that tax, unless those outstanding revenue bonds have
</u>    |
<u></u>0013| <u>    been discharged in full or provisions have been fully made for the
</u>    |
<u></u>0014| <u>    discharge.
</u>    |
<u></u>0015| <u>         Section 12.  [</u>NEW MATERIAL<u>]  REGIONAL TRANSIT GROSS
</u>    |
<u></u>0016| <u>    RECEIPTS TAX--EFFECTIVE DATE OF RESOLUTION--COMPLIANCE WITH GROSS
</u>    |
<u></u>0017| <u>    RECEIPTS AND COMPENSATING TAX ACT AND REQUIREMENTS OF DEPARTMENT--
</u>    |
<u></u>0018| <u>    SUBMISSION OF COPY TO DEPARTMENT.--
</u>    |
<u></u>0019| <u>              A.  Unless another date is approved by the department,
</u>    |
<u></u>0020| <u>    a resolution imposing, amending or repealing a regional transit
</u>    |
<u></u>0021| <u>    gross receipts tax or an increment of the tax pursuant to the
</u>    |
<u></u>0022| <u>    Regional Transit Authority Act shall be effective on July 1 or
</u>    |
<u></u>0023| <u>    January 1, whichever date occurs first, after the expiration of at
</u>    |
<u></u>0024| <u>    least three months from the date the adopted resolution is mailed
</u>    |
<u></u>0025| <u>    or delivered to the department.  The resolution shall include the
</u>    |
<u></u>0001| <u>    effective date.
</u>    |
<u></u>0002| <u>              B.  A resolution imposing a regional transit gross
</u>    |
<u></u>0003| <u>    receipts tax pursuant to the Regional Transit Authority Act shall
</u>    |
<u></u>0004| <u>    adopt by reference the same definitions and the same provisions
</u>    |
<u></u>0005| <u>    relating to exemptions and deductions as are contained in the
</u>    |
<u></u>0006| <u>    Gross Receipts and Compensating Tax Act then in effect and as it
</u>    |
<u></u>0007| <u>    may be amended from time to time.
</u>    |
<u></u>0008| <u>              C.  The board imposing the regional transit gross
</u>    |
<u></u>0009| <u>    receipts tax pursuant to the Regional Transit Authority Act shall
</u>    |
<u></u>0010| <u>    impose the tax by adopting the model resolution with respect to
</u>    |
<u></u>0011| <u>    the tax furnished to the authority by the department.  A
</u>    |
<u></u>0012| <u>    resolution that does not conform substantially to the model
</u>    |
<u></u>0013| <u>    resolution of the department is invalid.
</u>    |
<u></u>0014| <u>              D.  A certified copy of the resolution imposing or
</u>    |
<u></u>0015| <u>    repealing a regional transit gross receipts tax authorized under
</u>    |
<u></u>0016| <u>    the Regional Transit Authority Act or changing the tax rate
</u>    |
<u></u>0017| <u>    imposed shall be mailed or delivered to the department within five
</u>    |
<u></u>0018| <u>    days after the resolution is adopted.
</u>    |
<u></u>0019| <u>         Section 13.  [</u>NEW MATERIAL<u>]  REGIONAL TRANSIT GROSS
</u>    |
<u></u>0020| <u>    RECEIPTS TAX--SPECIFIC EXEMPTIONS.--No regional transit gross
</u>    |
<u></u>0021| <u>    receipts tax authorized under the Regional Transit Authority Act
</u>    |
<u></u>0022| <u>    shall be imposed on the gross receipts arising from transporting
</u>    |
<u></u>0023| <u>    persons or property for hire by railroad, motor vehicle, air
</u>    |
<u></u>0024| <u>    transportation or any other means from one point within the
</u>    |
<u></u>0025| <u>    authority to another point outside the authority, nor shall the
</u>    |
<u></u>0001| <u>    tax be imposed on direct satellite broadcasting or on gross
</u>    |
<u></u>0002| <u>    receipts that are exempt by federal law.
</u>    |
<u></u>0003| <u>         Section 14.  [</u>NEW MATERIAL<u>]  REGIONAL TRANSIT GROSS
</u>    |
<u></u>0004| <u>    RECEIPTS TAX--COLLECTION BY DEPARTMENT--TRANSFER OF PROCEEDS--
</u>    |
<u></u>0005| <u>    DEDUCTION.--
</u>    |
<u></u>0006| <u>              A.  The department shall collect the regional transit
</u>    |
<u></u>0007| <u>    gross receipts tax imposed pursuant to the provisions of the
</u>    |
<u></u>0008| <u>    Regional Transit Authority Act in the same manner and at the same
</u>    |
<u></u>0009| <u>    time it collects the state gross receipts tax.
</u>    |
<u></u>0010| <u>              B.  The department may deduct an amount not to exceed
</u>    |
<u></u>0011| <u>    three percent of the regional transit gross receipts tax collected
</u>    |
<u></u>0012| <u>    under the provisions of the Regional Transit Authority Act as a
</u>    |
<u></u>0013| <u>    charge for the administrative costs of collection.  That amount
</u>    |
<u></u>0014| <u>    shall be remitted to the state treasurer for deposit in the state
</u>    |
<u></u>0015| <u>    general fund each month.
</u>    |
<u></u>0016| <u>              C.  The department shall transfer to each authority for
</u>    |
<u></u>0017| <u>    which it is collecting a regional transit gross receipts tax
</u>    |
<u></u>0018| <u>    pursuant to the provisions of the Regional Transit Authority Act
</u>    |
<u></u>0019| <u>    the amount of the tax collected for that authority, less any
</u>    |
<u></u>0020| <u>    disbursement for administrative charges made pursuant to
</u>    |
<u></u>0021| <u>    Subsection B of this section, tax credits, refunds and the payment
</u>    |
<u></u>0022| <u>    of interest applicable to the tax.  The transfer to the authority
</u>    |
<u></u>0023| <u>    shall be made within the month following the month in which the
</u>    |
<u></u>0024| <u>    tax is collected. 
</u>    |
<u></u>0025| <u>         Section 15.  [</u>NEW MATERIAL<u>]  REGIONAL TRANSIT GROSS
</u>    |
<u></u>0001| <u>    RECEIPTS TAX--ADMINISTRATION AND ENFORCEMENT OF ACT.--
</u>    |
<u></u>0002| <u>              A.  The department shall interpret the provisions of
</u>    |
<u></u>0003| <u>    the Regional Transit Authority Act with respect to the regional
</u>    |
<u></u>0004| <u>    transit gross receipts tax authorized under that act.
</u>    |
<u></u>0005| <u>              B.  The department shall administer and enforce the
</u>    |
<u></u>0006| <u>    collection of the regional transit gross receipts tax authorized
</u>    |
<u></u>0007| <u>    pursuant to the Regional Transit Authority Act, and the Tax
</u>    |
<u></u>0008| <u>    Administration Act applies to the administration and enforcement
</u>    |
<u></u>0009| <u>    of the regional transit gross receipts tax.
</u>    |
<u></u>0010| <u>         Section 16.  [</u>NEW MATERIAL<u>]  BONDS OF THE AUTHORITY--USE--
</u>    |
<u></u>0011| <u>    SECURITY.--
</u>    |
<u></u>0012| <u>              A.  The authority may issue and sell revenue bonds from
</u>    |
<u></u>0013| <u>    time to time in principal amounts it considers necessary to
</u>    |
<u></u>0014| <u>    provide sufficient funds for any purpose of the Regional Transit
</u>    |
<u></u>0015| <u>    Authority Act, including:
</u>    |
<u></u>0016| <u>                   (1)  the acquisition of real and personal
</u>    |
<u></u>0017| <u>    property whether by purchase or by exercising the power of eminent
</u>    |
<u></u>0018| <u>    domain;
</u>    |
<u></u>0019| <u>                   (2)  the purchase, construction, reconstruction,
</u>    |
<u></u>0020| <u>    repair, equipping, improvement or extension of a public transit
</u>    |
<u></u>0021| <u>    system;
</u>    |
<u></u>0022| <u>                   (3)  the payment, funding, refinancing or
</u>    |
<u></u>0023| <u>    refunding of the principal of or interest or redemption premiums
</u>    |
<u></u>0024| <u>    on bonds and other indebtedness issued or incurred by the
</u>    |
<u></u>0025| <u>    authority whether the bonds or interest to be paid, funded,
</u>    |
<u></u>0001| <u>    refinanced or refunded have or have not become due;
</u>    |
<u></u>0002| <u>                   (4)  the establishment or increase of reserves or
</u>    |
<u></u>0003| <u>    sinking funds to secure or to pay principal, premium, if any, or
</u>    |
<u></u>0004| <u>    interest on bonds and reserves relating to the operation,
</u>    |
<u></u>0005| <u>    maintenance and repair of a public transit system; and
</u>    |
<u></u>0006| <u>                   (5)  all other costs or expenses of the authority
</u>    |
<u></u>0007| <u>    necessary or convenient to carry out its corporate purposes and
</u>    |
<u></u>0008| <u>    powers.
</u>    |
<u></u>0009| <u>              B.  Except as provided in Subsection D of this section,
</u>    |
<u></u>0010| <u>    all bonds or other obligations issued by the authority shall be
</u>    |
<u></u>0011| <u>    obligations of the authority payable solely from, and the
</u>    |
<u></u>0012| <u>    authority is authorized to pledge, transfer and assign for the
</u>    |
<u></u>0013| <u>    payment of the bonds:
</u>    |
<u></u>0014| <u>                   (1)  all or part of the net receipts of the
</u>    |
<u></u>0015| <u>    regional transit gross receipts tax that is dedicated for the
</u>    |
<u></u>0016| <u>    purpose for which the bonds are issued;
</u>    |
<u></u>0017| <u>                   (2)  any other revenue, income, money or funds of
</u>    |
<u></u>0018| <u>    the authority from any source available for the payment of the
</u>    |
<u></u>0019| <u>    bonds; or
</u>    |
<u></u>0020| <u>                   (3)  any grant, subsidy or contribution from the
</u>    |
<u></u>0021| <u>    United States or any of its agencies or instrumentalities that may
</u>    |
<u></u>0022| <u>    be used for the payment of bonds of the authority.
</u>    |
<u></u>0023| <u>              C.  The bonds and other obligations of the authority
</u>    |
<u></u>0024| <u>    shall not create an obligation, debt or liability of the state or
</u>    |
<u></u>0025| <u>    any political subdivision of the state, including any governing
</u>    |
<u></u>0001| <u>    body included in the authority.  No breach of any pledge,
</u>    |
<u></u>0002| <u>    obligation or agreement of the authority shall impose a pecuniary
</u>    |
<u></u>0003| <u>    liability or a charge upon the general credit or taxing power of
</u>    |
<u></u>0004| <u>    the state or any political subdivision of the state, including any
</u>    |
<u></u>0005| <u>    governing body included in the authority.
</u>    |
<u></u>0006| <u>              D.  Revenues received by a municipality with a
</u>    |
<u></u>0007| <u>    population of ten thousand or less, as determined by the last
</u>    |
<u></u>0008| <u>    federal decennial census, from the levy of the gross receipts tax
</u>    |
<u></u>0009| <u>    pursuant to the Regional Transit Authority Act shall not be
</u>    |
<u></u>0010| <u>    pledged for bonds issued by an authority, but may be used for the
</u>    |
<u></u>0011| <u>    operation and maintenance of the authority.
</u>    |
<u></u>0012| <u>         Section 17.  [</u>NEW MATERIAL<u>]  BONDS--AUTHORIZATION FOR
</u>    |
<u></u>0013| <u>    ISSUANCE--TERMS AND CONDITIONS.--
</u>    |
<u></u>0014| <u>              A.  Bonds of the authority shall be authorized by
</u>    |
<u></u>0015| <u>    resolution of the board and may be issued in one or more series. 
</u>    |
<u></u>0016| <u>    The bonds shall bear the dates, be in the form, be issued in the
</u>    |
<u></u>0017| <u>    denominations, have terms and maturities, bear interest at fixed
</u>    |
<u></u>0018| <u>    or variable rates or have appreciated principal, be payable in the
</u>    |
<u></u>0019| <u>    manner and at the times, be redeemed with or without premiums
</u>    |
<u></u>0020| <u>    prior to maturity, be ranked or assigned priority status and have
</u>    |
<u></u>0021| <u>    such other terms as the resolution of the authority or the trust
</u>    |
<u></u>0022| <u>    agreement or other document securing the bonds provides.
</u>    |
<u></u>0023| <u>              B.  The bonds issued by the authority may be sold at
</u>    |
<u></u>0024| <u>    any time at private or public sale at prices agreed upon by the
</u>    |
<u></u>0025| <u>    authority.  The authority may contract with the New Mexico finance
</u>    |
<u></u>0001| <u>    authority for issuance of bonds for short-term investment of
</u>    |
<u></u>0002| <u>    funds.
</u>    |
<u></u>0003| <u>              C.  Bonds may be issued pursuant to the Regional
</u>    |
<u></u>0004| <u>    Transit Authority Act without obtaining the consent of any agency
</u>    |
<u></u>0005| <u>    of the state and without any other proceeding or condition other
</u>    |
<u></u>0006| <u>    than the proceedings or conditions specified in that act.
</u>    |
<u></u>0007| <u>              D.  The bonds issued by the authority are negotiable
</u>    |
<u></u>0008| <u>    instruments for all purposes of the Uniform Commercial Code,
</u>    |
<u></u>0009| <u>    subject only to the provisions of the bonds for registration.
</u>    |
<u></u>0010| <u>         Section 18.  [</u>NEW MATERIAL<u>]  TRUST AGREEMENTS--CREDIT
</u>    |
<u></u>0011| <u>    FACILITIES--RELATED DOCUMENTS.--
</u>    |
<u></u>0012| <u>              A.  The authority may enter into trust agreements to
</u>    |
<u></u>0013| <u>    better secure the payment of any bonds issued pursuant to the
</u>    |
<u></u>0014| <u>    Regional Transit Authority Act with any corporate trustee and
</u>    |
<u></u>0015| <u>    provide in the trust agreements for the rights and limitations on
</u>    |
<u></u>0016| <u>    rights of the holders and owners of the bonds.
</u>    |
<u></u>0017| <u>              B.  The authority may enter into credit facilities to
</u>    |
<u></u>0018| <u>    provide additional security for its bonds or for a primary or
</u>    |
<u></u>0019| <u>    contingent source of payment of or reimbursement for the principal
</u>    |
<u></u>0020| <u>    of or interest or any redemption premium on the bonds, or the
</u>    |
<u></u>0021| <u>    purchase price upon a tender or call of the bonds.  The authority
</u>    |
<u></u>0022| <u>    may enter into contracts for the purchase or repurchase of its
</u>    |
<u></u>0023| <u>    bonds.
</u>    |
<u></u>0024| <u>              C.  The authority may enter into reimbursement
</u>    |
<u></u>0025| <u>    agreements, credit agreements, escrow agreements and other
</u>    |
<u></u>0001| <u>    contracts and agreements as are necessary or appropriate for its
</u>    |
<u></u>0002| <u>    bonds.
</u>    |
<u></u>0003| <u>         Section 19.  [</u>NEW MATERIAL<u>]  REFUNDING BONDS.--The
</u>    |
<u></u>0004| <u>    authority is authorized to issue its bonds for the purpose of
</u>    |
<u></u>0005| <u>    refunding any outstanding bonds, including the payment of any
</u>    |
<u></u>0006| <u>    redemption premiums and any interest accrued or to accrue to the
</u>    |
<u></u>0007| <u>    date of redemption of the outstanding bonds.  Until the proceeds
</u>    |
<u></u>0008| <u>    of the refunding bonds are applied to the purchase or retirement
</u>    |
<u></u>0009| <u>    of the outstanding bonds or the redemption of the outstanding
</u>    |
<u></u>0010| <u>    bonds, the proceeds may be placed in escrow and be invested and
</u>    |
<u></u>0011| <u>    reinvested.  The interest, income and profits, if any, earned or
</u>    |
<u></u>0012| <u>    realized on any such investment may, in the discretion of the
</u>    |
<u></u>0013| <u>    authority, also be applied to the payment of the outstanding bonds
</u>    |
<u></u>0014| <u>    to be refunded.  After the terms of any escrow agreement have been
</u>    |
<u></u>0015| <u>    satisfied, any balance remaining in escrow, including investments
</u>    |
<u></u>0016| <u>    earnings, may be returned to the authority for use by it in any
</u>    |
<u></u>0017| <u>    lawful manner.  All refunding bonds shall be issued and secured
</u>    |
<u></u>0018| <u>    and shall be subject to the provisions of the Regional Transit
</u>    |
<u></u>0019| <u>    Authority Act in the same manner and to the same extent as any
</u>    |
<u></u>0020| <u>    other bonds issued pursuant to the Regional Transit Authority Act.
</u>    |
<u></u>0021| <u>         Section 20.  [</u>NEW MATERIAL<u>]  PUBLICATION OF NOTICE--
</u>    |
<u></u>0022| <u>    VALIDATION--LIMITATION OF ACTION.--
</u>    |
<u></u>0023| <u>              A.  After adoption of a resolution authorizing the
</u>    |
<u></u>0024| <u>    issuance of bonds, the authority shall publish notice of the
</u>    |
<u></u>0025| <u>    adoption of the resolution once in a newspaper of general 
</u>    |
<u></u>0001| <u>    circulation in the area in which the authority is located.
</u>    |
<u></u>0002| <u>              B.  After the passage of thirty days from the time of
</u>    |
<u></u>0003| <u>    publication, any action attacking the validity of the proceedings
</u>    |
<u></u>0004| <u>    or taken by the authority in the authorization and issuance of the
</u>    |
<u></u>0005| <u>    bonds described in the notice is perpetually barred.
</u>    |
<u></u>0006| <u>         Section 21.  [</u>NEW MATERIAL<u>]  MANAGEMENT.--
</u>    |
<u></u>0007| <u>              A.  Responsibility for the construction, management and
</u>    |
<u></u>0008| <u>    operation of an authority and for control of the property
</u>    |
<u></u>0009| <u>    belonging to an authority shall be vested in its board.  The board
</u>    |
<u></u>0010| <u>    may employ qualified persons deemed necessary by the board for the
</u>    |
<u></u>0011| <u>    conduct of the affairs of the authority, including a general
</u>    |
<u></u>0012| <u>    manager, bookkeeper, auditor and engineer.
</u>    |
<u></u>0013| <u>              B.  The board shall provide for an annual audit of its
</u>    |
<u></u>0014| <u>    affairs by an independent certified public accountant.
</u>    |
<u></u>0015| <u>         Section 22.  [</u>NEW MATERIAL<u>]  ANNUAL BUDGET.--Prior to the
</u>    |
<u></u>0016| <u>    beginning of a fiscal year, the board shall adopt an annual
</u>    |
<u></u>0017| <u>    operating budget that specifies major expenditures by type and
</u>    |
<u></u>0018| <u>    amount.  The board shall furnish the local government division of
</u>    |
<u></u>0019| <u>    the department of finance and administration with a copy of the
</u>    |
<u></u>0020| <u>    budget for review and approval no later than June 1 of each year.  
</u>    |
<u></u>0021| <u>         Section 23.  [</u>NEW MATERIAL<u>]  RULES AND REGULATIONS.--
</u>    |
<u></u>0022| <u>              A.  The board may adopt and enforce reasonable rules
</u>    |
<u></u>0023| <u>    and regulations necessary to conduct its business, including:
</u>    |
<u></u>0024| <u>                   (1)  securing and maintaining safety and
</u>    |
<u></u>0025| <u>    efficiency in the operation and maintenance of its facilities;
</u>    |
<u></u>0001| <u>                   (2)  governing the use of the authority's
</u>    |
<u></u>0002| <u>    facilities and services by the public and the payment of fares; 
</u>    |
<u></u>0003| <u>                   (3)  regulating privileges on any land, easement,
</u>    |
<u></u>0004| <u>    right of way or other property owned or controlled by the
</u>    |
<u></u>0005| <u>    authority; and
</u>    |
<u></u>0006| <u>                   (4)  employing qualified persons as necessary to
</u>    |
<u></u>0007| <u>    carry out the purpose of the Regional Transit Authority Act.  
</u>    |
<u></u>0008| <u>              B.  Regulations adopted by the board shall be published
</u>    |
<u></u>0009| <u>    once a week for two consecutive weeks in a newspaper of general
</u>    |
<u></u>0010| <u>    circulation in the area in which the authority is located.  Rules
</u>    |
<u></u>0011| <u>    and regulations shall become effective ten days following the last
</u>    |
<u></u>0012| <u>    publication.
</u>    |
<u></u>0013| <u>         Section 24.  [</u>NEW MATERIAL<u>]  CONTRACTS FOR CONSTRUCTION,
</u>    |
<u></u>0014| <u>    GOODS OR SERVICES.--The board shall establish purchasing
</u>    |
<u></u>0015| <u>    guidelines, including rules governing a competitive bid process;
</u>    |
<u></u>0016| <u>    provided that the board shall not secure a contract that is not
</u>    |
<u></u>0017| <u>    subject to competitive bidding requirements or that is for the
</u>    |
<u></u>0018| <u>    purchase of real property or for professional services until an
</u>    |
<u></u>0019| <u>    announcement that a contract is being considered is posted in a
</u>    |
<u></u>0020| <u>    prominent place in the principal office of the authority for at
</u>    |
<u></u>0021| <u>    least two weeks before the contract is awarded.
</u>    |
<u></u>0022| <u>         Section 25.  [</u>NEW MATERIAL<u>]  CONDUCT OF ELECTIONS.--
</u>    |
<u></u>0023| <u>              A.  Notwithstanding initial elections necessary to
</u>    |
<u></u>0024| <u>    confirm the creation of an authority, board elections shall be
</u>    |
<u></u>0025| <u>    conducted at the time of the general election under the direction
</u>    |
<u></u>0001| <u>    of the municipal or county clerk and in accordance with the
</u>    |
<u></u>0002| <u>    provisions of the Election Code.
</u>    |
<u></u>0003| <u>              B.  Notice of the election shall be given by
</u>    |
<u></u>0004| <u>    publication.
</u>    |
<u></u>0005| <u>              C.  All polling places shall be within the area
</u>    |
<u></u>0006| <u>    included within the authority.
</u>    |
<u></u>0007| <u>              D.  The secretary of the authority shall provide to
</u>    |
<u></u>0008| <u>    each municipal or county clerk supplies and assistance necessary
</u>    |
<u></u>0009| <u>    to conduct an election for membership on the board, as authorized
</u>    |
<u></u>0010| <u>    by the Regional Transit Authority Act.  
</u>    |
<u></u>0011| <u>         Section 26.  [</u>NEW MATERIAL<u>]  EXEMPTION FROM TAXES.--The
</u>    |
<u></u>0012| <u>    property, revenues and income of an authority and the interest on
</u>    |
<u></u>0013| <u>    bonds issued by an authority shall be exempt from all taxes levied
</u>    |
<u></u>0014| <u>    by the state and its political subdivisions.
</u>    |
<u></u>0015| <u>         Section 27.  [</u>NEW MATERIAL<u>]  CONSTRUCTION OF ACT.--The
</u>    |
<u></u>0016| <u>    Regional Transit Authority Act shall be liberally construed to
</u>    |
<u></u>0017| <u>    carry out the purpose of that act.
</u>    |
<u></u>0018| <u>         Section 28.  A new section of the Tax Administration Act is
</u>    |
<u></u>0019| <u>    enacted to read:
</u>    |
<u></u>0020| <u>         "[</u>NEW MATERIAL<u>]  TRANSFER--REVENUES FROM REGIONAL TRANSIT
</u>    |
<u></u>0021| <u>    GROSS RECEIPTS TAXES.--A transfer pursuant to Section 7-1-6.1 NMSA
</u>    |
<u></u>0022| <u>    1978 shall be made to each regional transit authority for which
</u>    |
<u></u>0023| <u>    the department is collecting a regional transit gross receipts tax
</u>    |
<u></u>0024| <u>    in an amount equal to the net receipts attributable to the
</u>    |
<u></u>0025| <u>    regional transit gross receipts tax imposed by that authority
</u>    |
<u></u>0001| <u>    pursuant to the Regional Transit Authority Act less any deductions
</u>    |
<u></u>0002| <u>    for administrative costs determined and made by the department
</u>    |
<u></u>0003| <u>    pursuant to the provisions of that act."
</u>    |
<u></u>0004| <u>         Section 29.  Section 6-14-2 NMSA 1978 (being Laws 1970,
</u>    |
<u></u>0005| <u>    Chapter 10, Section 2, as amended) is amended to read:
</u>    |
<u></u>0006| <u>         "6-14-2.  DEFINITIONS.--As used in the Public Securities
</u>    |
<u></u>0007| <u>    Act:
</u>    |
<u></u>0008| <u>              A.  "net effective interest rate" means the interest
</u>    |
<u></u>0009| <u>    rate based on the actual price paid to a public body for its
</u>    |
<u></u>0010| <u>    public securities, calculated to maturity according to standard
</u>    |
<u></u>0011| <u>    tables of bond values;
</u>    |
<u></u>0012| <u>              B.  "public body" means this state or any department,
</u>    |
<u></u>0013| <u>    board, agency or instrumentality of the state, any county, city,
</u>    |
<u></u>0014| <u>    town, village, school district, other district, educational
</u>    |
<u></u>0015| <u>    institution or any other governmental agency or political
</u>    |
<u></u>0016| <u>    subdivision of the state; and
</u>    |
<u></u>0017| <u>              C.  "public securities" means any bonds, notes,
</u>    |
<u></u>0018| <u>    warrants or other obligations now or hereafter authorized to be
</u>    |
<u></u>0019| <u>    issued by any public body pursuant to the provisions of any
</u>    |
<u></u>0020| <u>    general or special law enacted by the legislature, but does not
</u>    |
<u></u>0021| <u>    include bonds, notes, warrants or other obligations issued
</u>    |
<u></u>0022| <u>    pursuant to:
</u>    |
<u></u>0023| <u>                   (1)  the Industrial Revenue Bond Act;
</u>    |
<u></u>0024| <u>                   (2)  the County Improvement District Act;
</u>    |
<u></u>0025| <u>                   (3)  Sections 3-33-1 through 3-33-43 NMSA 1978;
</u>    |
<u></u>0001| <u>                   (4)  the Pollution Control Revenue Bond Act;
</u>    |
<u></u>0002| <u>                   (5)  the County Pollution Control Revenue Bond
</u>    |
<u></u>0003| <u>    Act;
</u>    |
<u></u>0004| <u>                   (6)  the County Industrial Revenue Bond Act;
</u>    |
<u></u>0005| <u>                   (7)  the Metropolitan Redevelopment Code;
</u>    |
<u></u>0006| <u>                   (8)  the Supplemental Municipal Gross Receipts
</u>    |
<u></u>0007| <u>    Tax Act;
</u>    |
<u></u>0008| <u>    </u>              (9)  the Regional Transit Authority Act;<u>
</u>    |
<u></u>0009| <u>                   <s>[(9)]</s> </u>(10)<u>  the Hospital Equipment Loan Act;
</u>    |
<u></u>0010| <u>    or
</u>    |
<u></u>0011| <u>                   <s>[(10)]</s> </u>(11)<u>  the New Mexico Finance Authority
</u>    |
<u></u>0012| <u>    Act."
</u>    |
<u></u>0013| <u>         Section 30.  Section 6-18-4 NMSA 1978 (being Laws 1983,
</u>    |
<u></u>0014| <u>    Chapter 161, Section 4, as amended) is amended to read:
</u>    |
<u></u>0015| <u>         "6-18-4.  DEFINITIONS.--As used in the Public Securities
</u>    |
<u></u>0016| <u>    Short-Term Interest Rate Act, unless the context otherwise
</u>    |
<u></u>0017| <u>    requires:
</u>    |
<u></u>0018| <u>              A.  "bond" means any bond, debenture, note, refunding
</u>    |
<u></u>0019| <u>    or renewal bond or note, warrant or other security evidencing an
</u>    |
<u></u>0020| <u>    obligation authorized to be issued by a public body pursuant to
</u>    |
<u></u>0021| <u>    any provision of law of this state, including the Public
</u>    |
<u></u>0022| <u>    Securities Short-Term Interest Rate Act;
</u>    |
<u></u>0023| <u>              B.  "governing body" means the city council or other
</u>    |
<u></u>0024| <u>    body or officer of a public body in which the legislative powers
</u>    |
<u></u>0025| <u>    are vested;
</u>    |
<u></u>0001| <u>              C.  "indebtedness" means any debt evidenced by a bond
</u>    |
<u></u>0002| <u>    issued by a public body pursuant to any law of this state that
</u>    |
<u></u>0003| <u>    constitutes a debt for the purposes of Section 12 or 13 of Article
</u>    |
<u></u>0004| <u>    9 of the constitution of New Mexico and the issuance of which must
</u>    |
<u></u>0005| <u>    be submitted to a vote of the qualified electors of the public
</u>    |
<u></u>0006| <u>    body pursuant to those sections and any bond issued for the
</u>    |
<u></u>0007| <u>    purpose of paying or refunding any such bond;
</u>    |
<u></u>0008| <u>              D.  "bond legislation" means an ordinance or a
</u>    |
<u></u>0009| <u>    resolution or other appropriate enactment adopted by a governing
</u>    |
<u></u>0010| <u>    body <s>[of a public body]</s> providing for the authorization or sale
</u>    |
<u></u>0011| <u>    of bonds and any trust agreement, credit agreement, letter of
</u>    |
<u></u>0012| <u>    credit, reimbursement agreement or other credit facility, dealer
</u>    |
<u></u>0013| <u>    agreement, issuing or paying agent agreement, purchase commitment
</u>    |
<u></u>0014| <u>    agreement, escrow agreement, remarketing agreement, index agent
</u>    |
<u></u>0015| <u>    agreement or other agreement with respect to the bonds to which
</u>    |
<u></u>0016| <u>    the public body or trustee for the bonds is a party; and
</u>    |
<u></u>0017| <u>              E.  "public body" means any municipality, any county,
</u>    |
<u></u>0018| <u>    any school district, any special district, any H class county
</u>    |
<u></u>0019| <u>    <s>[located in New Mexico]</s>, the New Mexico hospital equipment loan
</u>    |
<u></u>0020| <u>    council, state institutions enumerated in Section 6-13-2 NMSA
</u>    |
<u></u>0021| <u>    1978, the water quality control commission, the state board of
</u>    |
<u></u>0022| <u>    finance, the New Mexico finance authority, </u>a regional transit
    |
0023|     authority created pursuant to the Regional Transit Authority Act<u>
</u>    |
<u></u>0024| <u>    or the state."
</u>    |
<u></u>0025| <u>         Section 31.  EFFECTIVE DATE.--The effective date of the
</u>    |
<u></u>0001| <u>    provisions of this act is July 1, 1997.
</u>    |
<u></u>0002| <u>                                                          State of New Mexico
</u>    |
<u></u>0003| <u>                      House of Representatives
</u>    |
<u></u>0004| <u>  
</u>    |
<u></u>0005| <u>                      FORTY-THIRD LEGISLATURE
</u>    |
<u></u>0006| <u>                        FIRST SESSION, 1997
</u>    |
<u></u>0007| <u>  
</u>    |
<u></u>0008| <u>  
</u>    |
<u></u>0009| <u>                                                   March 14, 1997
</u>    |
<u></u>0010| <u>  
</u>    |
<u></u>0011| <u>  
</u>    |
<u></u>0012| <u>  Mr. Speaker:
</u>    |
<u></u>0013| <u>  
</u>    |
<u></u>0014| <u>       Your TAXATION AND REVENUE COMMITTEE, to whom has
</u>    |
<u></u>0015| <u>  been referred
</u>    |
<u></u>0016| <u>  
</u>    |
<u></u>0017| <u>                  HOUSE BILL 669, as amended
</u>    |
<u></u>0018| <u>  
</u>    |
<u></u>0019| <u>  has had it under consideration and reports same with
</u>    |
<u></u>0020| <u>  recommendation that it DO NOT PASS, but that
</u>    |
<u></u>0021| <u>  
</u>    |
<u></u>0022| <u>       HOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE
</u>    |
<u></u>0023| <u>                      FOR HOUSE BILL 669
</u>    |
<u></u>0024| <u>  
</u>    |
<u></u>0025| <u>  be reported WITHOUT RECOMMENDATION.
</u>    |
<u></u>0001| <u>  
</u>    |
<u></u>0002| <u>  
</u>    |
<u></u>0003| <u>                                Respectfully submitted,
</u>    |
<u></u>0004| <u>  
</u>    |
<u></u>0005| <u>  
</u>    |
<u></u>0006| <u>  
</u>    |
<u></u>0007| <u>                                </u>                                 
    |
0008|                                 <u>                             Jerry W. Sandel, Chairman
</u>    |
<u></u>0009| <u>  
</u>    |
<u></u>0010| <u>  
</u>    |
<u></u>0011| <u>  Adopted </u>                    <u>     Not Adopted </u>                     
    |
0012|   <u>
</u>    |
<u></u>0013| <u>            (Chief Clerk)                       (Chief Clerk)
</u>    |
<u></u>0014| <u>  
</u>    |
<u></u>0015| <u>                        Date </u>            <u>
</u>    |
<u></u>0016| <u>  
</u>    |
<u></u>0017| <u>  The roll call vote was</u> 6 <u> For</u> 4 <u> Against
</u>    |
<u></u>0018| <u>  Yes:      6
</u>    |
<u></u>0019| <u>            No:       Gonzales, Porter, Russell, Ryan
</u>    |
<u></u>0020| <u>            Excused:  Lujan, Sandoval, Sandel
</u>    |
<u></u>0021| <u>            Absent:   None
</u>    |
<u></u>0022| <u>  
</u>    |
<u></u>0023| <u>  
</u>    |
<u></u>0024| <u>  
</u>    |
<u></u>0025| <u>  G:\BILLTEXT\BILLW_97\H0669                        State of New Mexico
</u>    |
<u></u>0001| <u>                      House of Representatives
</u>    |
<u></u>0002| <u>  
</u>    |
<u></u>0003| <u>                      FORTY-THIRD LEGISLATURE
</u>    |
<u></u>0004| <u>                        FIRST SESSION, 1997
</u>    |
<u></u>0005| <u>  
</u>    |
<u></u>0006| <u>  
</u>    |
<u></u>0007| <u>                                                   March 14, 1997
</u>    |
<u></u>0008| <u>  
</u>    |
<u></u>0009| <u>  
</u>    |
<u></u>0010| <u>  Mr. Speaker:
</u>    |
<u></u>0011| <u>  
</u>    |
<u></u>0012| <u>       Your TAXATION AND REVENUE COMMITTEE, to whom has
</u>    |
<u></u>0013| <u>  been referred
</u>    |
<u></u>0014| <u>  
</u>    |
<u></u>0015| <u>                  HOUSE BILL 669, as amended
</u>    |
<u></u>0016| <u>  
</u>    |
<u></u>0017| <u>  has had it under consideration and reports same with
</u>    |
<u></u>0018| <u>  recommendation that it DO NOT PASS, but that
</u>    |
<u></u>0019| <u>  
</u>    |
<u></u>0020| <u>       HOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE
</u>    |
<u></u>0021| <u>                      FOR HOUSE BILL 669
</u>    |
<u></u>0022| <u>  
</u>    |
<u></u>0023| <u>  be reported WITHOUT RECOMMENDATION.
</u>    |
<u></u>0024| <u>  
</u>    |
<u></u>0025| <u>  
</u>    |
<u></u>0001| <u>                                Respectfully submitted,
</u>    |
<u></u>0002| <u>  
</u>    |
<u></u>0003| <u>  
</u>    |
<u></u>0004| <u>  
</u>    |
<u></u>0005| <u>                                </u>                                 
    |
0006|                                 <u>                             Jerry W. Sandel, Chairman
</u>    |
<u></u>0007| <u>  
</u>    |
<u></u>0008| <u>  
</u>    |
<u></u>0009| <u>  Adopted </u>                    <u>     Not Adopted </u>                     
    |
0010|   <u>
</u>    |
<u></u>0011| <u>            (Chief Clerk)                       (Chief Clerk)
</u>    |
<u></u>0012| <u>  
</u>    |
<u></u>0013| <u>                        Date </u>            <u>
</u>    |
<u></u>0014| <u>  
</u>    |
<u></u>0015| <u>  The roll call vote was</u> 6 <u> For</u> 4 <u> Against
</u>    |
<u></u>0016| <u>  Yes:      6
</u>    |
<u></u>0017| <u>            No:       Gonzales, Porter, Russell, Ryan
</u>    |
<u></u>0018| <u>            Excused:  Lujan, Sandoval, Sandel
</u>    |
<u></u>0019| <u>            Absent:   None
</u>    |
<u></u>0020| <u>  
</u>    |
<u></u>0021| <u>  
</u>    |
<u></u>0022| <u>  
</u>    |
<u></u>0023| <u>  G:\BILLTEXT\BILLW_97\H0669  
</u>    |
<u></u>0024| <u>  
</u>    |
<u></u>0025| <u>                      FORTY-THIRD LEGISLATURE
</u>    |
<u></u>0001| <u>                        FIRST SESSION, 1997
</u>    |
<u></u>0002| <u>  
</u>    |
<u></u>0003| <u>  
</u>    |
<u></u>0004| <u>                                                   March 17, 1997
</u>    |
<u></u>0005| <u>  
</u>    |
<u></u>0006| <u>  Mr. President:
</u>    |
<u></u>0007| <u>  
</u>    |
<u></u>0008| <u>      Your WAYS AND MEANS COMMITTEE, to whom has been referred
</u>    |
<u></u>0009| <u>  
</u>    |
<u></u>0010| <u>        HOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE FOR
</u>    |
<u></u>0011| <u>                        HOUSE BILL 669
</u>    |
<u></u>0012| <u>  
</u>    |
<u></u>0013| <u>  has had it under consideration and reports same with
</u>    |
<u></u>0014| <u>  recommendation that it DO PASS, and thence referred to the
</u>    |
<u></u>0015| <u>  FINANCE COMMITTEE.
</u>    |
<u></u>0016| <u>  
</u>    |
<u></u>0017| <u>                               Respectfully submitted,
</u>    |
<u></u>0018| <u>  
</u>    |
<u></u>0019| <u>  
</u>    |
<u></u>0020| <u>  
</u>    |
<u></u>0021| <u>                               __________________________________
</u>    |
<u></u>0022| <u>                               Carlos R. Cisneros, Chairman 
</u>    |
<u></u>0023| <u>  
</u>    |
<u></u>0024| <u>  
</u>    |
<u></u>0025| <u>  
</u>    |
<u></u>0001| <u>  Adopted_______________________   Not Adopted_______________________
</u>    |
<u></u>0002| <u>            (Chief Clerk)                          (Chief Clerk)
</u>    |
<u></u>0003| <u>  
</u>    |
<u></u>0004| <u>  
</u>    |
<u></u>0005| <u>                    Date ________________________
</u>    |
<u></u>0006| <u>  
</u>    |
<u></u>0007| <u>  
</u>    |
<u></u>0008| <u>  The roll call vote was </u> 7 <u> For </u> 0 <u> Against
</u>    |
<u></u>0009| <u>          Yes:    7
</u>    |
<u></u>0010| <u>          No:     0
</u>    |
<u></u>0011| <u>               Excused:     McSorley, Nava
</u>    |
<u></u>0012| <u>          Absent: None
</u>    |
<u></u>0013| <u>  
</u>    |
<u></u>0014| <u>  
</u>    |
<u></u>0015| <u>  H0669WM1
</u>    |
<u></u>0016| <u>  
</u>    |
<u>