It is the intent of the legislature by the passage of the Pollution Control Revenue Bond Act to authorize municipalities to acquire, own, lease or sell projects for the purpose of reducing, abating or preventing pollution, including, but not limited to, removing pollutants, contaminants or foreign substances from land, air or water, or removing or treating any substance in a processed material which otherwise would cause pollution when such material is used, to protect and promote the health, welfare and safety of the citizens of this state and its habitat and wildlife, with the resultant higher level of employment and economic activity and stability. It is not intended hereby to authorize any municipality itself to operate any manufacturing, industrial or commercial enterprise. The provisions of the Pollution Control Revenue Bond Act shall be liberally construed in conformity with this intent.
History: 1953 Comp., § 14-60-3, enacted by Laws 1973, ch. 397, § 3; 1977, ch. 312, § 2.
Structure New Mexico Statutes
Article 59 - Pollution Control Revenue Bonds
Section 3-59-2 - Pollution Control Revenue Bond Act; definitions.
Section 3-59-3 - Legislative intent.
Section 3-59-4 - Additional powers conferred on municipalities.
Section 3-59-5 - Bonds issued to finance projects.
Section 3-59-6 - Security for bonds.
Section 3-59-7 - Requirements respecting lease, or agreement of sale.
Section 3-59-8 - Refunding bonds.
Section 3-59-9 - Use of proceeds from sale of bonds.
Section 3-59-10 - No contribution by municipality.
Section 3-59-11 - Bonds made legal investments.
Section 3-59-12 - Exemption from taxation.
Section 3-59-13 - Construction of act.
Section 3-59-14 - Proceedings for issuance and sale of bonds; no notice or publication required.