New Mexico Statutes 4-58-5. State grants-in-aid authorized
A. The secretary of the department of finance and administration may, from time to time, make grants-in-aid to officially recognized regional councils of planning and development districts from funds appropriated for that purpose. Payments shall be scheduled as nearly as possible to begin on July 1 of each fiscal year and on the first day of each calendar quarter thereafter.
Terms Used In New Mexico Statutes 4-58-5
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
B. Funds appropriated for grants-in-aid to recognized regional councils of planning and development districts shall be allocated, in equal shares, among the initial seven recognized planning and development districts. If any changes occur in the district boundaries of any of the initial seven districts, allocations of appropriated funds shall be made to the districts in accordance with equitable criteria established by the department of finance and administration and filed under the State Rules Act [N.M. Stat. Ann. Chapter 14, Article 4] prior to establishment of the changes.