0001| HOUSE BILL 1192
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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| GARY K. KING
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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 PUBLIC FINANCES; AMENDING THE POWERS OF THE NEW
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0012| MEXICO FINANCE AUTHORITY REGARDING LAND GRANT CORPORATIONS AND
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0013| ACEQUIA ASSOCIATIONS; DECLARING AN EMERGENCY.
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0014|
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0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016| Section 1. Section 6-21-5 NMSA 1978 (being Laws 1992,
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0017| Chapter 61, Section 5) is amended to read:
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0018| "6-21-5. POWERS OF THE AUTHORITY.--The authority is
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0019| granted all powers necessary and appropriate to carry out and
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0020| effectuate its public and corporate purposes, including but not
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0021| limited to the following powers:
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0022| A. to sue or be sued;
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0023| B. to adopt and alter an official seal;
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0024| C. to make and alter bylaws for its organization
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0025| and internal management and to adopt subject to the review and
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0001| approval of the New Mexico finance authority oversight
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0002| committee such regulations as are necessary and appropriate to
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0003| implement the provisions of the New Mexico Finance Authority
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0004| Act;
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0005| D. to appoint officers, agents and employees,
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0006| prescribe their duties and qualifications and fix their
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0007| compensation;
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0008| E. to make, enter into and enforce all contracts,
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0009| agreements and other instruments necessary, convenient or
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0010| desirable in the exercise of the authority's powers and
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0011| functions and for the purposes of the New Mexico Finance
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0012| Authority Act;
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0013| F. to acquire, construct, hold, improve, mortgage,
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0014| sell, lease, convey or dispose of real and personal property
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0015| for its public purposes;
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0016| G. to make, enter into and enforce contracts with
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0017| and acquire, construct, hold, improve, mortgage, sell, lease,
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0018| convey or dispose of real and personal property for land grant
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0019| corporations and acequia associations;
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0020| [G.] H. to make loans and purchase securities
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0021| and contract to make loans and purchase securities;
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0022| [H.] I. to make grants to qualified entities to
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0023| finance public projects;
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0024| [I.] J. to procure insurance to secure payment
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0025| on any loan, lease or purchase payments owed to the authority
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0001| by a qualified entity in such amounts and from such insurers,
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0002| including the federal government, as it may deem necessary or
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0003| desirable and to pay any premiums for such insurance;
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0004| [J.] K. to fix, revise from time to time,
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0005| charge and collect fees and other charges in connection with
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0006| the making of loans and any other services rendered by the
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0007| authority;
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0008| [K.] L. to accept, administer, hold and use all
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0009| funds made available to the authority from any sources;
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0010| [L.] M. to borrow money and to issue bonds and
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0011| provide for the rights of the holders of the bonds;
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0012| [M.] N. to establish and maintain reserve and
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0013| sinking fund accounts to insure against and have funds
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0014| available for maintenance of other debt service accounts;
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0015| [N.] O. to invest and reinvest its funds and to
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0016| take and hold property as security for the investment of such
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0017| funds as provided in the New Mexico Finance Authority Act;
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0018| [O.] P. to employ attorneys, accountants,
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0019| underwriters, financial advisers, trustees, paying agents,
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0020| architects, engineers, contractors and such other advisors,
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0021| consultants and agents as may be necessary and to fix and pay
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0022| their compensation;
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0023| [P.] Q. to apply for and accept gifts or grants
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0024| of property, funds, services or aid in any form from the United
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0025| States, any unit of government or any person and to comply,
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0001| subject to the provisions of the New Mexico Finance Authority
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0002| Act, with the terms and conditions of the gifts or grants;
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0003| [Q.] R. to maintain an office at any place in
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0004| the state it may determine;
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0005| [R.] S. subject to any agreement with
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0006| bondholders, to:
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0007| (1) renegotiate any loan or agreement;
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0008| (2) consent to any modification of the terms
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0009| of any loan or agreement; and
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0010| (3) purchase bonds, which may upon purchase be
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0011| canceled; and
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0012| [S.] T. to do any and all things necessary or
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0013| convenient to carry out its purposes and exercise the powers
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0014| given and granted in the New Mexico Finance Authority Act."
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0015| Section 2. EMERGENCY.--It is necessary for the public
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0016| peace, health and safety that this act take effect immediately.
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0017|
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0018| State of New Mexico
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0019| House of Representatives
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0020|
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0021| FORTY-THIRD LEGISLATURE
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0022| FIRST SESSION, 1997
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0023|
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0024|
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0025| March 6, 1997
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0001|
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0002|
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0003| Mr. Speaker:
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0004|
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0005| Your CONSUMER AND PUBLIC AFFAIRS COMMITTEE, to
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0006| whom has been referred
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0007|
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0008| HOUSE BILL 1192
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0009|
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0010| has had it under consideration and reports same with
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0011| recommendation that it DO PASS, amended as follows:
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0012|
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0013| 1. On page 2, line 17, strike "for" and insert in lieu
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0014| thereof "in conjunction with the board of trustees of private or
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0015| community".,
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0016|
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0017|
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0018| and thence referred to the JUDICIARY COMMITTEE.
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0019|
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0020| Respectfully submitted,
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0021|
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0022|
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0023|
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0024|
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0025|
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0001| Gary King, Chairman
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0002|
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0003|
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0004| Adopted Not Adopted
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0005|
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0006| (Chief Clerk) (Chief Clerk)
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0007|
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0008| Date
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0009|
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0010| The roll call vote was 7 For 0 Against
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0011| Yes: 7
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0012| Excused: Johnson, Rios, Vigil
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0013| Absent: None
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0014|
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0015|
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0016| 117850.1
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0017| G:\BILLTEXT\BILLW_97\H1192 State of New Mexico
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0018| House of Representatives
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0019|
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0020| FORTY-THIRD LEGISLATURE
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0021| FIRST SESSION, 1997
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0022|
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0023|
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0024| March 12, 1997
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0025|
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0001|
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0002| Mr. Speaker:
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0003|
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0004| Your JUDICIARY COMMITTEE, to whom has been referred
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0005|
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0006| HOUSE BILL 1192, as amended
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0007|
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0008| has had it under consideration and reports same with
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0009| recommendation that it DO NOT PASS, but that
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0010|
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0011| HOUSE JUDICIARY COMMITTEE SUBSTITUTE FOR HOUSE
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0012| BILL 1192
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0013|
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0014| DO PASS.
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0015|
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0016| Respectfully submitted,
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0017|
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0018|
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0019|
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0020|
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0021|
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0022| Thomas P. Foy, Chairman
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0023|
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0024|
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0025| Adopted Not Adopted
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0001|
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0002| (Chief Clerk) (Chief Clerk)
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0003|
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0004| Date
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0005|
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0006| The roll call vote was 8 For 0 Against
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0007| Yes: 8
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0008| Excused: Alwin, M.P. Garcia, Rios, Sanchez, Stewart
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0009| Absent: None
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0010|
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0011| G:\BILLTEXT\BILLW_97\H1192 HOUSE JUDICIARY COMMITTEE SUBSTITUTE FOR
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0012| HOUSE BILL 1192
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0013| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0014|
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0015|
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0016|
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0017|
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0018|
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0019|
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0020|
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0021| AN ACT
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0022| RELATING TO PUBLIC FINANCES; AMENDING THE POWERS OF THE NEW
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0023| MEXICO FINANCE AUTHORITY REGARDING LAND GRANT CORPORATIONS AND
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0024| INTERCOMMUNITY WATER OR NATURAL GAS SUPPLY ASSOCIATIONS OR
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0025| CORPORATIONS; DECLARING AN EMERGENCY.
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0001|
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0002| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0003| Section 1. Section 6-21-3 NMSA 1978 (being Laws 1992,
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0004| Chapter 61, Section 3, as amended) is amended to read:
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0005| "6-21-3. DEFINITIONS.--As used in the New Mexico Finance
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0006| Authority Act:
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0007| A. "authority" means the New Mexico finance
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0008| authority;
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0009| B. "bond" means any bonds, notes, certificates of
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0010| participation or other evidence of indebtedness;
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0011| C. "bondholder" or "holder" means a person who is
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0012| the owner of a bond, whether registered or not;
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0013| D. "public project" means the acquisition,
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0014| construction, improvement, alteration or reconstruction of
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0015| assets of a long-term capital nature by a qualified entity,
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0016| including [but not limited to] land; buildings; water rights;
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0017| water, sewerage and waste disposal systems; streets; airports;
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0018| municipal utilities; parking facilities; and machinery,
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0019| furniture and equipment. "Public project" includes all
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0020| proposed expenditures related to the entire undertaking;
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0021| E. "qualified entity" means the state or any agency
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0022| or institution of the state or any county, municipality, school
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0023| district, land grant corporation, intercommunity water or
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0024| natural gas supply associations or corporations, special
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0025| district or community water association or an Indian nation,
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0001| tribe or pueblo located wholly or partially in New Mexico,
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0002| including a political subdivision or a wholly owned enterprise
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0003| of an Indian nation, tribe or pueblo; and
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0004| F. "security" or "securities", unless the context
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0005| indicates otherwise, means bonds, notes or other evidence of
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0006| indebtedness issued by a qualified entity or leases or
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0007| certificates or other evidence of participation in the lessor's
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0008| interest in and rights under a lease with a qualified entity
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0009| and that are payable from taxes, revenues, rates, charges,
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0010| assessments or user fees or from the proceeds of funding or
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0011| refunding bonds, notes or other evidences of indebtedness of a
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0012| qualified entity or from certificates or evidence of
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0013| participation in a lease with a qualified entity."
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0014| Section 2. EMERGENCY.--It is necessary for the public
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0015| peace, health and safety that this act take effect immediately.
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0016|
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0017|
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0018|
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0019| FORTY-THIRD LEGISLATURE
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0020| FIRST SESSION, 1997
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0021|
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0022|
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0023| March 18, 1997
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0024|
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0025| Mr. President:
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0001|
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0002| Your CONSERVATION COMMITTEE, to whom has been referred
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0003|
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0004| HOUSE JUDICIARY COMMITTEE SUBSTITUTE FOR
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0005| HOUSE BILL 1192
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0006|
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0007| has had it under consideration and reports same with recommendation
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0008| that it DO PASS.
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0009|
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0010| Respectfully submitted,
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0011|
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0012|
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0013|
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0014| __________________________________
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0015| Michael S. Sanchez, Chairman
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0016|
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0017|
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0018|
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0019| Adopted_______________________ Not Adopted_______________________
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0020| (Chief Clerk) (Chief Clerk)
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0021|
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0022|
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0023|
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0024| Date ________________________
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0025|
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0001|
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0002| The roll call vote was 6 For 0 Against
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0003| Yes: 6
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0004| No: None
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0005| Excused: Griego, Kysar, Lyons, Tsosie
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0006| Absent: None
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0007|
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0008|
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0009| H1192C01
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