0001|                               AN ACT
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0002| RELATING TO PUBLIC FINANCING; AMENDING SECTIONS OF THE NEW MEXICO
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0003| FINANCE AUTHORITY ACT; DECLARING AN EMERGENCY.
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0004| 
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0005| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:     
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0006|      Section 1.  Section 6-21-3 NMSA 1978 (being Laws 1992, Chapter 61, Section 3, as
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0007| amended) is amended to read:
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0008|      "6-21-3.  DEFINITIONS.--As used in the New Mexico Finance Authority Act:
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0009|           A.  "authority" means the New Mexico finance authority;
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0010|           B.  "bond" means any bonds, notes, certificates of participation or other evidence
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0011| of indebtedness;
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0012|           C.  "bondholder" or "holder" means a person who is the owner of a bond, whether
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0013| registered or not;
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0014|           D.  "public project" means the acquisition, construction, improvement, alteration
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0015| or reconstruction of assets of a long-term capital nature by a qualified entity, including but not
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0016| limited to land; buildings; water rights; water, sewerage and waste disposal systems; streets;
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0017| airports; municipal utilities; parking facilities; and machinery, furniture and equipment.  "Public
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0018| project" includes all proposed expenditures related to the entire undertaking;
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0019|           E.  "qualified entity" means the state or any agency or institution of the state or
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0020| any county, municipality, school district, special district, community water association or an
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0021| Indian nation, tribe or pueblo located wholly or partially in New Mexico, including a political
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0022| subdivision or a wholly owned enterprise of an Indian nation, tribe or pueblo; and
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0023|           F.  "security" or "securities", unless the context indicates otherwise, means bonds,
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0024| notes or other evidence of indebtedness issued by a qualified entity or leases or certificates or
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0025| other evidence of participation in the lessor's interest in and rights under a lease with a qualified
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0001| entity and that are payable from taxes, revenues, rates, charges, assessments or user fees or from
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0002| the proceeds of funding or refunding bonds, notes or other evidences of indebtedness of a
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0003| qualified entity or from certificates or evidence of participation in a lease with a qualified
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0004| entity."
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0005|      Section 2.  Section 6-21-23 NMSA 1978 (being Laws 1992, Chapter 61, Section 23, as
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0006| amended) is amended to read:
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0007|      "6-21-23.  PROHIBITED ACTIONS.--The authority shall not:
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0008|           A.  lend money or make a grant other than to a qualified entity;
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0009|           B.  purchase securities other than from a qualified entity or other than for
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0010| investment as provided in the New Mexico Finance Authority Act;
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0011|           C.  lease a public project to any entity other than a qualified entity;
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0012|           D.  deal in securities within the meaning of or subject to any securities law,
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0013| securities exchange law or securities dealers law of the United States or of the state or of any
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0014| other state or jurisdiction, domestic or foreign, except as authorized in the New Mexico Finance
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0015| Authority Act;
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0016|           E.  issue bills of credit or accept deposits of money for time on demand deposit or
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0017| administer trusts or engage in any form or manner, or in the conduct of, any private or
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0018| commercial banking business, or act as a savings bank or savings and loan association or any
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0019| other kind of financial institution except as authorized in the New Mexico Finance Authority
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0020| Act;
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0021|           F.  engage in any form of private or commercial banking business except as
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0022| authorized in the New Mexico Finance Authority Act; or
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0023|           G.  lend money, issue bonds, including public-private partnership project bonds,
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0024| or make a grant for the promotion of gaming or a gaming enterprise or for development of
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0025| infrastructure for a gaming facility."
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0001|      Section 3.  EMERGENCY.--It is necessary for the public peace, health and safety
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0002|                                                               that this act take effect immediately.                                                    
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0003|                                                               
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