The legislature authorizes the issuance of bonds not to exceed two hundred sixty-seven million dollars ($267,000,000) in net proceeds as adjusted for inflation, secured by tax increments authorized pursuant to the Tax Increment for Development Act [Chapter 5, Article 15 NMSA 1978] to be pledged to pay the principal of and interest on the bonds, including a gross receipts tax increment attributed to the imposition of the state gross receipts tax within the south campus tax increment development district, subject to the review and approval by the New Mexico finance authority of:

1. A. the master indenture prior to issuance of any bonds; and
2. B. any amendments to the master indenture prior to issuance of any bonds after any amendments are made.

History: Laws 2023, ch. 157, § 1.

ANNOTATIONS

Emergency clauses. — Laws 2023, ch. 157, § 5, contained an emergency clause and was approved April 5, 2023.