As used in the New Mexico Finance Authority Act:

1. A. "authority" means the New Mexico finance authority;
2. B. "bond" means any bonds, notes, certificates of participation or other evidence of indebtedness;
3. C. "bondholder" or "holder" means a person who is the owner of a bond, whether registered or not;

4. D. "emergency public project" means a public project:

   1. (1) made necessary by an unforeseen occurrence or circumstance threatening the public health, safety or welfare; and
   2. (2) requiring the immediate expenditure of money that is not within the available financial resources of the qualified entity as determined by the authority;
5. E. "public project" means the acquisition, construction, improvement, alteration or reconstruction of assets of a long-term capital nature by a qualified entity, including land; buildings; water rights; water, sewerage and waste disposal systems; streets; housing; airports; municipal utilities; public recreational facilities; public transportation systems; parking facilities; and machinery, furniture and equipment. "Public project" includes all proposed expenditures related to the entire undertaking. "Public project" also includes the acquisition, construction or improvement of real property, buildings, facilities and other assets by the authority for the purpose of leasing the property;
6. F. "qualified entity" means the state or an agency or institution of the state or a county, municipality, school district, two-year public post-secondary educational institution, charter school, land grant corporation, acequia association, public improvement district, federally chartered college located in New Mexico, intercommunity water or natural gas supply association or corporation, special water, drainage, irrigation or conservancy district or other special district created pursuant to law, rural electric cooperative pursuant to the Rural Electric Cooperative Act [Chapter 62, Article 15 NMSA 1978], nonprofit foundation or other support organization affiliated with a public university, college or other higher educational institution located in New Mexico, including a university research park corporation, a nonprofit housing developer, an Indian nation, tribe or pueblo located wholly or partially in New Mexico, including a political subdivision or a wholly owned enterprise of an Indian nation, tribe or pueblo or a consortium of those Indian entities or a consortium of any two or more qualified entities created pursuant to law; and
7. G. "security" or "securities", unless the context indicates otherwise, means bonds, notes or other evidence of indebtedness issued by a qualified entity or leases or certificates or other evidence of participation in the lessor's interest in and rights under a lease with a qualified entity and that are payable from taxes, revenues, rates, charges, assessments or user fees or from the proceeds of funding or refunding bonds, notes or other evidence of indebtedness of a qualified entity or from certificates or evidence of participation in a lease with a qualified entity.

History: Laws 1992, ch. 61, § 3; 1995, ch. 141, § 15; 1996, ch. 75, § 1; 1997, ch. 90, § 1; 1999, ch. 4, § 1; 2001, ch. 294, § 1; 2003, ch. 25, § 1; 2006, ch. 65, § 1; 2009, ch. 223, § 1; 2024, ch. 15, § 1; 2025, ch. 71, § 1.

ANNOTATIONS

The 2025 amendment, effective June 20, 2025, revised the definition of the term "qualified entity" as used in the New Mexico Finance Authority Act; and in Subsection F, after "pursuant to law" added "rural electric cooperative pursuant to the Rural Electric Cooperative Act".

The 2024 amendment, effective May 15, 2024, revised the definitions of "public project" and "qualified entity"; in Subsection E, after "streets" added "housing"; and in Subsection F, after "university research park corporation" added "a nonprofit housing developer".

The 2009 amendment, effective July 1, 2009, in Subsection E, after "municipal utilities", added "public recreational facilities; public transportation systems"; and in Subsection F, after "public post-secondary educational institution", added "charter school"; after "association or corporation, special", deleted "district or community water association" and added "water, drainage, irrigation or conservancy district or other special district created pursuant to law"; after "New Mexico", added "including a university research park corporation"; and after "Indian entities", added "or a consortium of any two or more qualified entities created pursuant to law".

The 2006 amendment, effective March 6, 2006, in Subsection F, included nonprofit foundation or other support organization affiliated with a public university, college or other higher educational institution located in New Mexico as "qualified entity".

The 2003 amendment, effective July 1, 2003, in Subsection F inserted "acequia association, public improvement district, federally chartered college located in New Mexico," following "land grant corporation," near the middle and added "or a consortium of those Indian entities" near the end.

The 2001 amendment, effective April 5, 2001, added the last sentence of Subsection E.

The 1999 amendment, effective February 27, 1999, added Subsection D and redesignated former Subsections D through F as present Subsections E through G, made stylistic changes in Subsections F and G, and inserted "two-year public post-secondary institution" in Subsection F.

The 1997 amendment, effective April 8, 1997, inserted "land grant corporation, intercommunity water or natural gas supply associations or corporations, special district" in Subsection E.

The 1996 amendment, effective March 5, 1996, in Subsection E, added the language beginning with "or an Indian nation" at the end and made a stylistic change.

The 1995 amendment, effective April 5, 1995, inserted "certificates of participation" and substituted "evidence of indebtedness" for "obligation" in Subsection B, inserted "water rights" in Subsection D, and inserted "or community water association" and made a minor stylistic change in Subsection E.