Prior to the issuance of industrial revenue bonds or refunding bonds for acquisition or improvement of a water utility or a joint water utility, New Mexico public utility commission approval, as required by the Public Utility Act [Chapter 62, Articles 1 to 6 and 8 to 13 NMSA 1978], shall be obtained. H class counties shall obtain New Mexico public utility commission approval as required by Section 3-23-3 NMSA 1978.
History: 1978 Comp., § 4-59-9.1, enacted by Laws 1992, ch. 11, § 2; 1993, ch. 282, § 13.
The 1993 amendment, effective June 18, 1993, substituted "New Mexico public utility commission" for "New Mexico public service commission" in both sentences.
Structure New Mexico Statutes
Article 59 - County Industrial Revenue Bonds
Section 4-59-3 - Legislative intent.
Section 4-59-4 - Additional powers conferred on counties.
Section 4-59-4.2 - Electric transmission projects; payments to the state.
Section 4-59-5 - Bonds issued to finance projects.
Section 4-59-6 - Security for bonds.
Section 4-59-7 - Requirements respecting lease.
Section 4-59-8 - Refunding bonds.
Section 4-59-9 - Use of proceeds from sale of bonds.
Section 4-59-9.1 - Procedure for issuing industrial revenue bonds or refunding bonds.
Section 4-59-10 - No contribution by county.
Section 4-59-11 - Bonds made legal investments.
Section 4-59-12 - Exemption from taxation.
Section 4-59-13 - Construction of act.
Section 4-59-14 - No notice or publication required.