A. The "state fairgrounds district" is created as a political subdivision of the state, separate and apart from a municipality. The district consists of land owned by the state, commonly known as the "state fairgrounds", lying within the exterior boundaries of the city of Albuquerque as of July 1, 2025, and land contiguous to the state fairgrounds that may be subsequently acquired by the district or another public entity and included in the boundaries of the district by the board. B. The district may:
(1)enter into contracts or expend money for any public purpose or community benefit with respect to projects of the district;
(2)enter into agreements with a public entity in connection with real property located within the district;
(3)enter into an intergovernmental agreement in accordan
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A. The "state fairgrounds district" is created as a political subdivision of the state, separate and apart from a municipality. The district consists of land owned by the state, commonly known as the "state fairgrounds", lying within the exterior boundaries of the city of Albuquerque as of July 1, 2025, and land contiguous to the state fairgrounds that may be subsequently acquired by the district or another public entity and included in the boundaries of the district by the board. B. The district may: (1) enter into contracts or expend money for any public purpose or community benefit with respect to projects of the district; (2) enter into agreements with a public entity in connection with real property located within the district; (3) enter into an intergovernmental agreement in accordance with the Joint Powers Agreements Act [11-1-1 to 11-1-7 NMSA 1978] for the planning, design, inspection, ownership, control, maintenance, operation or repair of public infrastructure or the provision of services by a public entity or for any other purpose authorized the State Fairgrounds District Act; (4) sell, lease or otherwise dispose of property of the district if the sale, lease or disposal complies with the law and is not a violation of the terms of any contract or bond covenant of the district; (5) grant, donate or otherwise dispose of property of the district in accordance with the Local Economic Development Act [Chapter 5, Article 10 NMSA 1978], the Affordable Housing Act [Chapter 6, Article 27 NMSA 1978 ] or the provisions of Article 9, Section 14 of the constitution of New Mexico; (6) acquire land or undertake projects; (7) employ or contract with staff, counsel, advisors and consultants; (8) pay a person for providing the district with services or facilities; (9) accept gifts or grants and incur and repay loans for a public purpose or community benefit; (10) levy property taxes in accordance with election requirements of the State Fairgrounds District Act; (11) pay the financial, legal and administrative costs of the district; (12) enter into contracts, agreements and trust indentures to obtain credit enhancement or liquidity support for the district's bonds and process the issuance, registration, transfer and payment of the district's bonds and the disbursement and investment of proceeds of the bonds; (13) borrow money and issue bonds for the purposes of the State Fairgrounds District Act; (14) use public easements and rights of way in or across public property, roadways, highways, streets or other thoroughfares and other public easements and rights of way of the district or a public entity; (15) alter the boundaries of the district to add land contiguous to the state fairgrounds that may be subsequently acquired by the district or another public body; and (16) exercise the rights and powers necessary or incidental to or implied by the specific powers granted by this section.