The economic development department shall provide assistance to political subdivisions of the state so that they can construct or implement projects necessary to provide services that will encourage the location of industry in the political subdivisions. The department shall, for this purpose, make low-interest loans to political subdivisions of the state with the approval of the economic development and tourism commission and after coordination with the local government division of the department of finance and administration pursuant to the New Mexico Community Assistance Act [11-6-1 NMSA 1978].
History: Laws 1983, ch. 299, § 4; 1984, ch. 5, § 11; 1991, ch. 21, § 35.
The 1991 amendment, effective March 27, 1991, deleted "and tourism" preceding "department" in the first sentence and substituted "commission" for "board" in the second sentence.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 56 Am. Jur. 2d Municipal Corporations §§ 588, 589.
64 C.J.S. Municipal Corporations § 1842.
Structure 2021 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 19 - Development Training
Section 21-19-1 to 21-19-6 - Repealed.
Section 21-19-7 - Development training.
Section 21-19-7.1 - Development training for film and multimedia production companies.
Section 21-19-10 - Community development assistance.
Section 21-19-11 - Funds created.
Section 21-19-12 - Temporary provision; appropriation of fund balances.
Section 21-19-13 - Distributions of development training funds.