Except as otherwise provided in the Infrastructure Development Zone Act, all bonds or other obligations issued pursuant to that act are payable solely from the revenues of the infrastructure development zone that may be pledged to the payment of such obligations, and the bonds or other obligations shall not create an obligation, debt or liability of the state or any other of its political subdivisions. No breach of any pledge, obligation or agreement of an infrastructure development zone shall impose a pecuniary liability or a charge upon the general credit or taxing power of the state or any other of its political subdivisions.
History: Laws 2009, ch. 136, § 33.
Effective dates. — Laws 2009, ch. 136 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 19, 2009, 90 days after the adjournment of the legislature.
Structure 2021 New Mexico Statutes
Chapter 5 - Municipalities and Counties
Article 17 - Infrastructure Development Zone
Section 5-17-3 - Organization of infrastructure development zone; submission of service plan.
Section 5-17-4 - Public hearing required.
Section 5-17-5 - Objecting petition; plan to be disapproved.
Section 5-17-6 - Request for exclusion.
Section 5-17-7 - Action on petition and service plan; criteria.
Section 5-17-8 - Approval of service plan; petition granted; election scheduled.
Section 5-17-9 - Designation of approving authority.
Section 5-17-10 - Organization election.
Section 5-17-11 - Filing resolution and service plan.
Section 5-17-12 - Service area of infrastructure development zones; overlapping districts.
Section 5-17-13 - Approval by an annexing municipality.
Section 5-17-14 - Service plan; compliance; modification; enforcement.
Section 5-17-15 - Inclusion of territory; procedure.
Section 5-17-16 - Effect of inclusion order.
Section 5-17-17 - Exclusion of territory.
Section 5-17-18 - Effect of exclusion order.
Section 5-17-19 - Dissolution.
Section 5-17-21 - Directors; terms; organization of board.
Section 5-17-22 - General powers.
Section 5-17-23 - Park and recreational services; additional powers; limitations.
Section 5-17-24 - Sanitation, water and sanitation or water services; additional powers.
Section 5-17-25 - Subdistricts.
Section 5-17-27 - State capital outlay projects prohibited.
Section 5-17-28 - General obligation bonds; tax levy; exception.
Section 5-17-29 - Special assessment; bonds; imposition.
Section 5-17-30 - Revenue bonds; fees and charges.
Section 5-17-31 - Term of bonds.
Section 5-17-33 - Bonds not obligation of state.
Section 5-17-34 - Exemption from Community Service District Act and Special District Procedures Act.