A. The authority is authorized to issue and sell revenue bonds, known as "renewable energy transmission bonds", payable solely from the renewable energy transmission bonding fund, in compliance with the New Mexico Renewable Energy Transmission Authority Act, for the purpose of entering into a project when the authority determines that the project is needed.
B. The net proceeds from the bonds are appropriated to the authority for the purpose of financing or acquiring eligible facilities.
History: Laws 2007, ch. 3, § 5.
Effective date. — Laws 2007, ch. 3, § 19 made Laws 2007, ch. 3, § 5 effective July 1, 2007.
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.