The "renewable energy transmission authority operational fund" is created in the authority. The fund shall consist of money appropriated and transferred to the fund. Earnings from investment of the fund shall be credited to the fund. Money in the fund is appropriated to the authority for the purpose of carrying out the provisions of the New Mexico Renewable Energy Transmission Authority Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert. The authority is authorized to establish procedures required to administer the fund in accordance with the New Mexico Renewable Energy Transmission Authority Act and state law.
History: Laws 2007, ch. 3, § 13; 2011, ch. 33, § 4.
The 2011 amendment, effective July 1, 2011, eliminated the requirement that disbursement of funds be made on warrants drawn by the secretary of finance and administration, and authorized the authority to establish procedures to administer the fund.
Structure New Mexico Statutes
Chapter 62 - Electric, Gas and Water Utilities
Article 16A - New Mexico Renewable Energy Transmission Authority Act
Section 62-16A-1 - Short title.
Section 62-16A-2 - Definitions.
Section 62-16A-3 - New Mexico renewable energy transmission authority created; organization.
Section 62-16A-4 - Authority; duties and powers.
Section 62-16A-5 - Renewable energy transmission bonds; appropriation of proceeds.
Section 62-16A-6 - Renewable energy transmission bonding fund created; money in the fund pledged.
Section 62-16A-7 - Authority to refund bonds.
Section 62-16A-8 - Renewable energy transmission bonds; form; execution.
Section 62-16A-9 - Procedure for sale of renewable energy transmission bonds.
Section 62-16A-11 - Suit may be brought to compel performance of officers.
Section 62-16A-12 - Renewable energy transmission bonds tax exempt.
Section 62-16A-13 - Renewable energy transmission authority operational fund.
Section 62-16A-14 - Report to legislature.