A. The "border authority" is created. The authority is a state agency and is administratively attached to the economic development department.
B. The authority consists of seven voting members, six of whom shall be appointed by the governor. No more than three of those appointed shall belong to the same political party. The seventh member shall be the secretary of economic development or the secretary's designee. The voting members appointed by the governor shall be confirmed by the senate. The lieutenant governor shall serve as a nonvoting ex-officio member. The chair may appoint a nonvoting advisory committee to provide advice and recommendations on authority matters.
C. The six voting members of the authority appointed by the governor shall be citizens of the state and shall serve for terms of four years except for the initial appointees who shall be appointed so that the terms are staggered after initial appointment. Initial appointees shall serve terms as follows: two members for two years, two members for three years and two members for four years.
History: Laws 1991, ch. 131, § 4; 1995, ch. 192, § 2; 2003, ch. 123, § 1.
Cross references. — For the Procurement Code, see 13-1-28 NMSA 1978.
The 2003 amendment, effective June 20, 2003 rewrote Subsection A to such an extent that a detailed comparison is impracticable; in Subsection B, inserted "of those appointed" following "more than three" near the beginning, deleted "department" following "economic development" near the middle and inserted "or the secretary's designee" at the end of the present third sentence.
The 1995 amendment, effective June 16, 1995, added the third sentence in Subsection A; in Subsection B, substituted "seven" for "thirteen", substituted the language beginning "six of whom" and ending "on authority matters" for "six ex officio and seven appointed", and deleted "Additionally, based upon the recommendations of the voting members, there shall be an unlimited number of nonvoting advisory members. Except for those members serving ex officio, all members shall be appointed by the governor" following "on authority matters"; deleted former Subsections C, D and E relating to appointment of members and ex officio members; redesignated former Subsection F as Subsection C, and in Subsection C, substituted "six" for "seven", inserted "shall be citizens of the state and" following "governor", and substituted "two members for four years" for "three members for four years".
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 27 - Border Development
Section 58-27-1 - Short title.
Section 58-27-2 - Legislative purpose.
Section 58-27-3 - Definitions.
Section 58-27-4 - Border authority created; membership.
Section 58-27-5 - Authority; members' compensation.
Section 58-27-6 - Officers of the authority.
Section 58-27-7 - Executive committee of the authority.
Section 58-27-8 - Vacancies on authority.
Section 58-27-9 - Meetings and records of the authority.
Section 58-27-10 - Powers and duties of authority.
Section 58-27-12 - Authority staff; contracts.
Section 58-27-13 - Location of authority.
Section 58-27-14 - Authority fees and charges.
Section 58-27-15 - Border authority; bonding authority; power to issue revenue bonds.
Section 58-27-16 - Authority revenue bonds; terms.
Section 58-27-16.1 - Authority loans; terms.
Section 58-27-16.2 - Repealed.
Section 58-27-16.3 - Bonds secured by trust indenture.
Section 58-27-18 - Security for bonds, notes or certificates of indebtedness.
Section 58-27-19 - Requirements respecting resolution and lease.
Section 58-27-20 - Use of proceeds from sale of bonds.
Section 58-27-21 - Border authority revenue bonds; refunding authorization.
Section 58-27-22 - Authority refunding bonds; escrow; detail.
Section 58-27-23 - Authority refunding revenue bonds; terms.
Section 58-27-24 - Exemption from taxation.
Section 58-27-25 - Fund created.
Section 58-27-25.1 - Border project fund; created; purpose; expenditures.
Section 58-27-26 - New Mexico finance authority oversight committee; oversight powers and duties.