0001|               HOUSE JUDICIARY COMMITTEE SUBSTITUTE FOR
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0002|                           HOUSE BILL 1192
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0003|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0004|                                   
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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|     
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0011|                                AN ACT
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0012|     RELATING TO PUBLIC FINANCES; AMENDING THE POWERS OF THE NEW
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0013|     MEXICO FINANCE AUTHORITY REGARDING LAND GRANT CORPORATIONS AND
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0014|     INTERCOMMUNITY WATER OR NATURAL GAS SUPPLY ASSOCIATIONS OR
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0015|     CORPORATIONS; DECLARING AN EMERGENCY.
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0016|     
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0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018|          Section 1.  Section 6-21-3 NMSA 1978 (being Laws 1992,
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0019|     Chapter 61, Section 3, as amended) is amended to read:
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0020|          "6-21-3.  DEFINITIONS.--As used in the New Mexico Finance
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0021|     Authority Act:
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0022|               A.  "authority" means the New Mexico finance
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0023|     authority;
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0024|               B.  "bond" means any bonds, notes, certificates of
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0025|     participation or other evidence of indebtedness;
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0001|               C.  "bondholder" or "holder" means a person who is
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0002|     the owner of a bond, whether registered or not;
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0003|               D.  "public project" means the acquisition,
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0004|     construction, improvement, alteration or reconstruction of
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0005|     assets of a long-term capital nature by a qualified entity,
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0006|     including [but not limited to] land; buildings; water rights;
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0007|     water, sewerage and waste disposal systems; streets; airports;
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0008|     municipal utilities; parking facilities; and machinery,
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0009|     furniture and equipment.  "Public project" includes all
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0010|     proposed expenditures related to the entire undertaking;
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0011|               E.  "qualified entity" means the state or any agency
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0012|     or institution of the state or any county, municipality, school
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0013|     district, land grant corporation, intercommunity water or
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0014|     natural gas supply associations or corporations, special
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0015|     district or community water association or an Indian nation,
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0016|     tribe or pueblo located wholly or partially in New Mexico,
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0017|     including a political subdivision or a wholly owned enterprise
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0018|     of an Indian nation, tribe or pueblo; and
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0019|               F.  "security" or "securities", unless the context
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0020|     indicates otherwise, means bonds, notes or other evidence of
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0021|     indebtedness issued by a qualified entity or leases or
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0022|     certificates or other evidence of participation in the lessor's
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0023|     interest in and rights under a lease with a qualified entity
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0024|     and that are payable from taxes, revenues, rates, charges,
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0025|     assessments or user fees or from the proceeds of funding or
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0001|     refunding bonds, notes or other evidences of indebtedness of a
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0002|     qualified entity or from certificates or evidence of
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0003|     participation in a lease with a qualified entity."
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0004|          Section 2.  EMERGENCY.--It is necessary for the public
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0005|     peace, health and safety that this act take effect immediately.
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0006|                                   
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