0001| HOUSE BILL 566 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| JAMES ROGER MADALENA | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO PUBLIC FINANCE; AMENDING THE NEW MEXICO FINANCE | 0012| AUTHORITY ACT; DECLARING AN EMERGENCY. | 0013| | 0014| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0015| Section 1. Section 6-21-3 NMSA 1978 (being Laws 1992, | 0016| Chapter 61, Section 3, as amended) is amended to read: | 0017| "6-21-3. DEFINITIONS.--As used in the New Mexico Finance | 0018| Authority Act: | 0019| A. "authority" means the New Mexico finance | 0020| authority; | 0021| B. "bond" means any bonds, notes, certificates of | 0022| participation or other evidence of indebtedness; | 0023| C. "bondholder" or "holder" means a person who is | 0024| the owner of a bond, whether registered or not; | 0025| D. "public project" means the acquisition, | 0001| construction, improvement, alteration or reconstruction of | 0002| assets of a long-term capital nature by a qualified entity, | 0003| including ~~[but not limited to]~~ land; buildings; water rights; | 0004| water, sewerage and waste disposal systems; streets; airports; | 0005| municipal utilities; parking facilities; and machinery, | 0006| furniture and equipment. "Public project" includes all | 0007| proposed expenditures related to the entire undertaking; | 0008| E. "qualified entity" means the state or any agency | 0009| or institution of the state or any county, municipality, school | 0010| district, special district or community water association, a | 0011| post-secondary school operating pursuant to a charter or | 0012| authorization from the federal government or an Indian nation, | 0013| tribe or pueblo located wholly or partially in New Mexico, | 0014| including a political subdivision or a wholly owned enterprise | 0015| of an Indian nation, tribe or pueblo; and | 0016| F. "security" or "securities", unless the context | 0017| indicates otherwise, means bonds, notes or other evidence of | 0018| indebtedness issued by a qualified entity or leases or | 0019| certificates or other evidence of participation in the lessor's | 0020| interest in and rights under a lease with a qualified entity | 0021| and that are payable from taxes, revenues, rates, charges, | 0022| assessments or user fees or from the proceeds of funding or | 0023| refunding bonds, notes or other evidences of indebtedness of a | 0024| qualified entity or from certificates or evidence of | 0025| participation in a lease with a qualified entity." | 0001| Section 2. EMERGENCY.--It is necessary for the public | 0002| peace, health and safety that this act take effect immediately. | 0003| 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 GOVERNMENT AND URBAN AFFAIRS COMMITTEE, to | 0016| whom has been referred | 0017| | 0018| HOUSE BILL 566 | 0019| | 0020| has had it under consideration and reports same with | 0021| recommendation that it DO PASS, amended as follows: | 0022| | 0023| 1. On page 2, line 3, strike the brackets and line- | 0024| through., | 0025| | 0001| and thence referred to the APPROPRIATIONS AND FINANCE | 0002| COMMITTEE. | 0003| | 0004| Respectfully submitted, | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| Lynda M. Lovejoy, Chairwoman | 0011| | 0012| | 0013| Adopted Not Adopted | 0014| | 0015| (Chief Clerk) (Chief Clerk) | 0016| | 0017| Date | 0018| | 0019| The roll call vote was 7 For 0 Against | 0020| Yes: 7 | 0021| Excused: Saavedra | 0022| Absent: None | 0023| | 0024| | 0025| .116043.1 | 0001| G:\BILLTEXT\BILLW_97\H0566 State of New Mexico | 0002| House of Representatives | 0003| | 0004| FORTY-THIRD LEGISLATURE | 0005| FIRST SESSION, 1997 | 0006| | 0007| | 0008| March 5, 1997 | 0009| | 0010| | 0011| Mr. Speaker: | 0012| | 0013| Your APPROPRIATIONS AND FINANCE COMMITTEE, to | 0014| whom has been referred | 0015| | 0016| HOUSE BILL 566, as amended | 0017| | 0018| has had it under consideration and reports same with | 0019| recommendation that it DO PASS, amended as follows: | 0020| | 0021| 1. On page 2, after line 25, insert: | 0022| | 0023| "Section 2. Section 6-21-4 NMSA 1978 (being Laws 1992, | 0024| Chapter 61, Section 4) is amended to read: | 0025| | 0001| "6-21-4. NEW MEXICO FINANCE AUTHORITY CREATED--MEMBERSHIP-- | 0002| QUALIFICATIONS--QUORUM--MEETINGS--COMPENSATION--BOND.-- | 0003| | 0004| A. There is created a public body politic and | 0005| corporate constituting a governmental instrumentality to be known | 0006| as the "New Mexico finance authority" for the performance of | 0007| essential public functions. | 0008| | 0009| B. The authority shall be composed of ~~[twelve]~~ | 0010| thirteen members. The state treasurer, the state investment | 0011| officer, the secretary of finance and administration, the | 0012| secretary of economic development, the secretary of energy, | 0013| minerals and natural resources, the secretary of environment, the | 0014| executive director of the New Mexico municipal league and the | 0015| executive director of the New Mexico association of counties or | 0016| their designees shall be ex-officio members of the authority with | 0017| voting privileges. The governor, with the advice and consent of | 0018| the senate, shall appoint to the authority the chief financial | 0019| officer of a state higher educational institution and four | 0020| members who are residents of the state. The appointed members | 0021| shall serve at the pleasure of the governor. | 0022| | 0023| C. The appointed members of the authority shall be | 0024| appointed to four-year terms. The initial members shall be | 0025| appointed to staggered terms of four years or less, so that the | 0001| term of at least one member expires on January 1 of each year. | 0002| Vacancies shall be filled by appointment by the governor for the | 0003| remainder of the unexpired term. Any member of the authority | 0004| shall be eligible for reappointment. | 0005| | 0006| D. Each appointed member before entering upon his | 0007| duty shall take an oath of office to administer the duties of his | 0008| office faithfully and impartially. A record of the oath shall be | 0009| filed in the office of the secretary of state. | 0010| | 0011| E. The governor shall designate an appointed member | 0012| of the authority to serve as chairman. The authority shall elect | 0013| annually one of its members to serve as vice chairman. The | 0014| authority shall appoint and prescribe the duties of such other | 0015| officers, who need not be members, as the authority deems | 0016| necessary or advisable, including an executive director and a | 0017| secretary, who may be the same person. The authority may | 0018| delegate to one or more of its members, officers, employees or | 0019| agents such powers and duties as it may deem proper and | 0020| consistent with the New Mexico Finance Authority Act. | 0021| | 0022| F. The executive director of the authority shall | 0023| direct the affairs and business of the authority, subject to the | 0024| policies, control and direction of the authority. The secretary | 0025| of the authority shall keep a record of the proceedings of the | 0001| authority and shall be custodian of all books, documents and | 0002| papers filed with the authority, the minute book or journal of | 0003| the authority and its official seal. The secretary shall make | 0004| copies of all minutes and other records and documents of the | 0005| authority and give certificates under the official seal of the | 0006| authority to the effect that the copies are true copies, and all | 0007| persons dealing with the authority may rely upon the | 0008| certificates. | 0009| | 0010| G. Meetings of the authority shall be held at the | 0011| call of the chairman or whenever three members shall so request | 0012| in writing. A majority of members then serving constitutes a | 0013| quorum for the transaction of any business. The affirmative vote | 0014| of at least a majority of a quorum present shall be necessary for | 0015| any action to be taken by the authority. An ex-officio member | 0016| may designate in writing another person to attend meetings of the | 0017| authority and to the same extent and with the same effect act in | 0018| his stead. No vacancy in the membership of the authority shall | 0019| impair the right of a quorum to exercise all rights and perform | 0020| all duties of the authority. | 0021| | 0022| H. Each member of the authority shall give bond as | 0023| provided in the Surety Bond Act. All costs of the surety bonds | 0024| shall be borne by the authority. | 0025| | 0001| I. The authority is not created or organized, and its | 0002| operations shall not be conducted, for the purpose of making a | 0003| profit. No part of the revenues or assets of the authority shall | 0004| benefit or be distributable to its members, officers or other | 0005| private persons. The members of the authority shall receive no | 0006| compensation for their services, but shall be reimbursed for | 0007| actual and necessary expenses at the same rate and on the same | 0008| basis as provided for public officers in the Per Diem and Mileage | 0009| Act. | 0010| | 0011| J. The authority shall not be subject to the | 0012| supervision or control of any other board, bureau, department or | 0013| agency of the state except as specifically provided in the New | 0014| Mexico Finance Authority Act. No use of the terms "state agency" | 0015| or "instrumentality" in any other law of the state shall be | 0016| deemed to refer to the authority unless the authority is | 0017| specifically referred to in the law. | 0018| | 0019| K. The authority is a governmental instrumentality | 0020| for purposes of the Tort Claims Act."". | 0021| | 0022| 2. Renumber the succeeding section accordingly. | 0023| | 0024| . | 0025| | 0001| Respectfully submitted, | 0002| | 0003| | 0004| | 0005| | 0006| | 0007| Max Coll, Chairman | 0008| | 0009| | 0010| Adopted Not Adopted | 0011| | 0012| (Chief Clerk) (Chief Clerk) | 0013| | 0014| Date | 0015| | 0016| The roll call vote was 11 For 0 Against | 0017| Yes: 11 | 0018| Excused: Bird, Marquardt, Picraux, Saavedra, Salazar, Watchman | 0019| Absent: None | 0020| | 0021| | 0022| .117853.1 | 0023| G:\BILLTEXT\BILLW_97\H0566 FORTY-THIRD LEGISLATURE | 0024| FIRST SESSION, 1997 | 0025| | 0001| | 0002| March 17, 1997 | 0003| Mr. President: | 0004| | 0005| Your PUBLIC AFFAIRS COMMITTEE, to whom has been | 0006| referred | 0007| | 0008| HOUSE BILL 566, as amended | 0009| | 0010| has had it under consideration and reports same with | 0011| recommendation that it DO PASS, and thence referred to the | 0012| FINANCE COMMITTEE. | 0013| | 0014| Respectfully submitted, | 0015| | 0016| | 0017| | 0018| | 0019| | 0020| __________________________________ | 0021| Shannon Robinson, Chairman | 0022| | 0023| | 0024| Adopted_______________________ Not | 0025| Adopted_______________________ | 0001| (Chief Clerk) (Chief Clerk) | 0002| | 0003| | 0004| Date ________________________ | 0005| | 0006| | 0007| | 0008| The roll call vote was 7 For 0 Against | 0009| Yes: 7 | 0010| No: 0 | 0011| Excused: Vernon, Rodarte | 0012| Absent: None | 0013| | 0014| | 0015| | 0016| | 0017| | 0018| H0566PA1 | 0019| | 0020| | 0021| | 0022| | 0023| | 0024| FORTY-THIRD LEGISLATURE | 0025| FIRST SESSION, 1997 | 0001| | 0002| | 0003| March 21, 1997 | 0004| | 0005| Mr. President: | 0006| | 0007| Your FINANCE COMMITTEE, to whom has been referred | 0008| | 0009| HOUSE BILL 566, as amended | 0010| | 0011| has had it under consideration and reports same with | 0012| recommendation that it DO PASS. | 0013| | 0014| Respectfully submitted, | 0015| | 0016| | 0017| | 0018| | 0019| __________________________________ | 0020| Ben D. Altamirano, Chairman | 0021| | 0022| | 0023| | 0024| Adopted_______________________ Not | 0025| Adopted_______________________ | 0001| (Chief Clerk) (Chief Clerk) | 0002| | 0003| | 0004| | 0005| Date ________________________ | 0006| | 0007| | 0008| The roll call vote was 6 For 0 Against | 0009| Yes: 6 | 0010| No: None | 0011| Excused: Carraro, Eisenstadt, Ingle, Lyons, McKibben | 0012| Absent: None | 0013| | 0014| | 0015| H0566FC1 |