A municipality and the county in which the municipality is located may agree to form a district:
A. the initial boundaries of which lie within the jurisdiction of the municipality, the county or both;
B. that includes an industrial air center composed of infrastructure associated with a former United States military base; and
C. that consists of land and real property formerly associated with the former United States military base and other land and real property made part of the district.
History: Laws 2019, ch. 13, § 3.
Effective dates. — Laws 2019, ch. 13 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 14, 2019, 90 days after the adjournment of the legislature.
Structure New Mexico Statutes
Chapter 5 - Municipalities and Counties
Article 20 - Regional Air Center Special Economic District
Section 5-20-3 - Creation of a district.
Section 5-20-4 - Creation of an authority; members; terms; qualifications.
Section 5-20-5 - Authority; powers; duties.
Section 5-20-6 - Revenue bonds; exemption from taxation.
Section 5-20-7 - Bonding authority.
Section 5-20-8 - Refunding bonds.