The legislature finds that:
A. there is a need for appropriate facilities in this state to enhance, foster, aid, provide and promote transportation, economic development, housing, recreation, education, culture, history and sense of place and for governmental operations necessary to support such activities;
B. there is a need for suitable facilities for expositions, conventions, exhibitions, meetings, banquets and related facilities that will enhance or supplement facilities currently available for these activities in order to promote the state and its counties and municipalities as attractive destinations to convention and visitor industry planners;
C. there is a great tradition in the state involving railway transportation that can be integrated with expositions, conventions and exhibitions and planned commuter rail transportation facilities for the mutual benefit of the state and out-of-state visitors participating in expositions, conventions and exhibitions; and
D. private enterprise alone cannot provide facilities of the type and size to achieve a first-class exposition center, but by establishing an authority to plan, develop, manage and operate a suitable exposition center the state can achieve a great public benefit at the least public cost through the use of leases, concessions and other contractual relationships with private enterprise.
History: Laws 2005, ch. 342, § 2.
Effective dates. — Laws 2005, ch. 342, § 24 made the act effective April 7, 2005.
Structure 2021 New Mexico Statutes
Article 25A - New Mexico Exposition Center Authority
Section 6-25A-1 - Short title.
Section 6-25A-2 - Legislative findings.
Section 6-25A-3 - Definitions.
Section 6-25A-5 - Powers of the authority.
Section 6-25A-6 - Purchases in name of the authority; documentation.
Section 6-25A-7 - Bonds of the authority; use; security.
Section 6-25A-8 - Bonds; authorization for issuance; terms and conditions.
Section 6-25A-9 - Bonds secured by trust indenture.
Section 6-25A-10 - Publication of notice; validation; limitation of action.
Section 6-25A-11 - Refunding bonds.
Section 6-25A-12 - Remedies of bondholders.
Section 6-25A-13 - Agreement of the state.
Section 6-25A-14 - Bonds; legal investment for public officers and fiduciaries.
Section 6-25A-15 - Tax exemption.
Section 6-25A-16 - Money of the authority; expenses; audit; annual report.
Section 6-25A-17 - Corporate existence.
Section 6-25A-18 - Prohibited actions.
Section 6-25A-19 - Conflicts of interest; penalty.
Section 6-25A-20 - Cumulative authority.
Section 6-25A-21 - New Mexico exposition authority oversight committee.