New Mexico Statutes 3-65-3. Definitions
As used in the Minor League Baseball Stadium Funding Act: A. “authority” means the New Mexico finance authority;
Terms Used In New Mexico Statutes 3-65-3
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Venue: The geographical location in which a case is tried.
B. “chief executive officer” means the mayor or chief administrative officer of a municipality when designated in writing by the mayor to perform duties required by the Minor League Baseball Stadium Funding Act;
C. “governing body” means the council, commission or other group of elected officials of a municipality in which is vested the legislative authority of a municipality;
D. “loan” means a loan or other financial arrangement pursuant to which money is lent or otherwise made available by the authority to a municipality to pay for some or all of the costs of land for and designing, purchasing, constructing, remodeling, rehabilitating, renovating, improving, equipping and furnishing a minor league baseball stadium;
E. “loan payments” means all payments of principal, interest, premiums, charges, expenses or other obligations required to be paid by a municipality to the authority to repay the loan;
F. “minor league baseball stadium” means a stadium, including land, buildings and related improvements, primarily designed and intended for use by minor league baseball teams as a venue for playing baseball games;
G. “municipality” means a municipality located in a class A county with a population of more than two hundred thousand according to the 1990 federal decennial census;
H. “stadium surcharge” means a surcharge on tickets, parking, souvenirs, concessions, programs, advertising, merchandise, corporate suites or boxes, broadcast revenues and all other products or services sold at or related to the minor league baseball stadium or related to activities occurring at the stadium;
I. “vendor” means every person, corporation, partnership or other entity, including a division or department of a municipality, providing products or services sold at or related to the minor league baseball stadium; and
J. “vendor contract” means a contract, agreement or other written arrangement between a municipality and a vendor pursuant to which the vendor provides products or services sold at or related to the minor league baseball stadium.