New Mexico Statutes 71-10-5. Authority; powers; duties
A. An authority is a political subdivision of the state that may, in accordance with law and to effectuate the purposes of the district it governs:
Terms Used In New Mexico Statutes 71-10-5
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) have perpetual existence; (2) sue and be sued;
(3) adopt bylaws, policies and procedures;
(4) employ a director, who may employ staff as necessary to administer the authority;
(5) fix the time and place of meetings and the method of providing notice of the meetings;
(6) make and pass orders and resolutions necessary for governing and managing the authority and executing the powers of the authority;
(7) adopt and use a seal;
(8) create and define the duties of advisory committees; (9) enter into contracts and agreements;
(10) borrow money and issue bonds;
(11) pledge all or a portion of its revenue to the payment of its bonds;
(12) issue refunding revenue bonds to refinance, pay or discharge all or part of its outstanding revenue bonds;
(13) impose liens;
(14) acquire, dispose of or encumber real or personal property or interests in real or personal property, including leases and easements;
(15) manage the land and property constituting and associated with the authority within the district, including by imposing rental charges and fees for the use of that land and property;
(16) sell, transfer or convey real or personal property or interests in real or personal property acquired by the authority;
(17) alter the boundaries of the district with the approval of the counties that are part of the district;
(18) establish standards and long-term development plans;
(19) apply to a public or private source for a loan, grant, guarantee or other type of financial assistance; and
(20) exercise the rights and powers necessary or incidental to or implied by the specific powers granted by this section.
B. An authority shall:
(1) govern the district;
(2) adopt rules to govern its conduct, including standards and procedures for calling emergency meetings and a conflicts-of-interest policy;
(3) use district property to create jobs and foster economic development in all areas it deems appropriate and in the public welfare; and
(4) comply with all applicable state and federal laws, ordinances or rules enacted by the county having jurisdiction over the district’s land or real property.