It is the intent of the legislature by passage of the Economic Advancement District Act to authorize economic advancement districts to acquire, own, lease or sell projects for the purpose of promoting industry and trade, other than retail trade, for the enhancement of the economy of the area encompassed by the district and for the general economy of the state. It is the intent of the legislature that this be accomplished by the inducement of manufacturing, industrial and commercial enterprises to locate and expand in the district and in this state and by the promotion of agricultural products and natural resources of the district and the state.
History: Laws 1987, ch. 115, ยง 3.
Structure 2021 New Mexico Statutes
Article 19 - Economic Advancement Districts
Section 6-19-3 - Legislative intent.
Section 6-19-4 - Creation of economic advancement districts.
Section 6-19-5 - Board of trustees; organization; terms; vacancies; removal.
Section 6-19-6 - Board of trustees; compensation; payment authority; bond.
Section 6-19-7 - Board of trustees; powers.
Section 6-19-8 - Board of trustees; duties.
Section 6-19-9 - General obligation bonds.
Section 6-19-10 - General obligation bonds; interest; maturities.
Section 6-19-11 - General obligation bonds; imposition of tax.
Section 6-19-12 - Refunding bonds.
Section 6-19-13 - Revenue bonds.
Section 6-19-14 - Security for revenue bonds.
Section 6-19-15 - Requirements respecting lease.
Section 6-19-16 - Revenue bonds; refunding.
Section 6-19-17 - Nature of all bonds issued pursuant to act.