New Mexico § 71-10-5 Authority; powers; duties

New Mexico Statutes

§ 71-10-5 — Authority; powers; duties

New Mexico § 71-10-5

Ch. 71Energy and Minerals

Art. 10Electric Generating Facility Economic District

This text of New Mexico § 71-10-5 (Authority; powers; duties) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 71-10-5 (2026).

Text

A. An authority is a political subdivision of the state that may, in accordance with law and to effectuate the purposes of the district it governs:

(1)have perpetual existence;

(2)sue and be sued;

(3)adopt bylaws, policies and procedures;

(4)employ a director, who may employ staff as necessary to administer the authority;

(5)fix the time and place of meetings and the method of providing notice of the meetings;

(6)make and pass orders and resolutions necessary for governing and managing the authority and executing the powers of the authority;

(7)adopt and use a seal;

(8)create and define the duties of advisory committees;

(9)enter into contracts and agreements;

(10)borrow money and issue bonds;

(11)pledge all or a portion of its revenue to the payment of its bonds;

(12)issue ref

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A. An authority is a political subdivision of the state that may, in accordance with law and to effectuate the purposes of the district it governs: (1) have perpetual existence; (2) sue and be sued; (3) adopt bylaws, policies and procedures; (4) employ a director, who may employ staff as necessary to administer the authority; (5) fix the time and place of meetings and the method of providing notice of the meetings; (6) make and pass orders and resolutions necessary for governing and managing the authority and executing the powers of the authority; (7) adopt and use a seal; (8) create and define the duties of advisory committees; (9) enter into contracts and agreements; (10) borrow money and issue bonds; (11) pledge all or a portion of its revenue to the payment of its bonds; (12) issue refunding revenue bonds to refinance, pay or discharge all or part of its outstanding revenue bonds; (13) impose liens; (14) acquire, dispose of or encumber real or personal property or interests in real or personal property, including leases and easements; (15) manage the land and property constituting and associated with the authority within the district, including by imposing rental charges and fees for the use of that land and property; (16) sell, transfer or convey real or personal property or interests in real or personal property acquired by the authority; (17) alter the boundaries of the district with the approval of the counties that are part of the district; (18) establish standards and long-term development plans; (19) apply to a public or private source for a loan, grant, guarantee or other type of financial assistance; and (20) exercise the rights and powers necessary or incidental to or implied by the specific powers granted by this section. B. An authority shall: (1) govern the district; (2) adopt rules to govern its conduct, including standards and procedures for calling emergency meetings and a conflicts-of-interest policy; (3) use district property to create jobs and foster economic development in all areas it deems appropriate and in the public welfare; and (4) comply with all applicable state and federal laws, ordinances or rules enacted by the county having jurisdiction over the district's land or real property.