72-4A-6: Authority; duties.

A. The authority shall:

(1) provide staff support for the board;

(2) develop application procedures and forms for qualifying entities to apply for grants and loans from the water project fund; and

(3) make loans or grants to qualifying entities for qualifying water projects pursuant to the Water Project Finance Act; provided that the service area for the project is wholly within the boundaries of the state or the project is an interstate project that directly benefits New Mexico.

B. The loans and grants made pursuant to Paragraph (3) of Subsection A of this section shall require legislative authorization on and after December 31, 2029.