A. The governing body, at its option, may authorize the appointment of a separate district board. In the case of an appointed district board, the directors shall serve an initial term of six years. If a vacancy occurs on the district board because of death, resignation or inability of a director to discharge the duties of director, the governing body shall appoint a director to fill the vacancy, who shall hold office for the remainder of the unexpired term until the appointed director's successor is appointed or elected.
B. At the end of the appointed director's initial term, the governing body shall resume governance of the district as its board, or, at its option, shall hold an election of directors by majority vote of the property owners in the district, pursuant to Section 10 [5-18-10 NMSA 1978] of the Renewable Energy Financing District Act.
History: Laws 2009, ch. 180, § 9.
Effective dates. — Laws 2009, ch. 180 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 18 - Renewable Energy Financing District Act
Section 5-18-2 - Legislative findings.
Section 5-18-4 - Renewable energy financing districts authorized.
Section 5-18-5 - Resolution declaring intention to form district.
Section 5-18-6 - Hearing; formation of a district.
Section 5-18-7 - Special assessment; lien created.
Section 5-18-8 - Special assessment bonds.
Section 5-18-10 - Notice and conduct of election for district board.
Section 5-18-11 - Powers and duties of a district.