45th legislature - STATE OF NEW MEXICO - first extraordinary session, 2002

RELATING TO CAPITAL PROJECTS; AUTHORIZING THE NEW MEXICO FINANCE AUTHORITY TO MAKE LOANS FROM THE PUBLIC PROJECT REVOLVING FUND FOR A BUILDING PROJECT IN THE CITY OF ROSWELL; DECLARING AN EMERGENCY.

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

Section 1. AUTHORIZATION OF PROJECT--VOIDING OF AUTHORIZATION.--Pursuant to the provisions of Section 6-21-6 NMSA 1978, the legislature authorizes the New Mexico finance authority to make loans from the public project revolving fund to the city of Roswell for a building project on terms and conditions established by the New Mexico finance authority. If the city of Roswell has not certified to the New Mexico finance authority by the end of fiscal year 2005 its desire to continue to pursue a loan from the public project revolving fund for the building project, the legislative authorization granted to the New Mexico finance authority in this section is void.

Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.