{"data":{"id":"us-nm/3-60a-28","jurisdiction":"us-nm","citation":"3-60A-28","heading":"General powers.","body":"In addition to any other powers, each local government has the following powers:\nA. to acquire, whether by construction, purchase, gift, devise, lease or sublease; to improve and equip; and to finance, sell, lease or otherwise dispose of one or more projects or part thereof. If a local government issues revenue bonds as provided by the Metropolitan Redevelopment Code [Chapter 3, Article 60A NMSA 1978] to finance or acquire projects, the projects shall be located within the jurisdiction of the local government and within a metropolitan redevelopment area;\nB. to enter into financing agreements with others for the purpose of providing revenues to pay the bonds authorized by the Redevelopment Bonding Law [3-60A-26 to 3-60A-46 NMSA 1978]; to lease, sell or otherwise dispose of any or all of its projects to others for revenue and upon terms and conditions the local government may deem advisable; and to grant options to renew any lease or other agreement with respect to the project and to grant options to buy any project at a price the local government deems desirable;\nC. to issue revenue bonds for the purpose of defraying the cost of financing, acquiring, improving and equipping any project, including the payment of principal and interest on the bonds for a period not to exceed three years and all other incidental expenses incurred in issuing the bonds; and\nD. to secure payment of revenue bonds as provided in the Redevelopment Bonding Law.","path":["Chapter 3 - Municipalities","ARTICLE 60A Metropolitan Redevelopment"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18504/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"3eb83e3d9701229599757f02bb8ec92f2e20a470612694fe41a3f13e36ddc4e7","source_id":"us-nm","stale":false,"prev":"us-nm/3-60a-27","next":"us-nm/3-60a-29"},"notice":"GroundRules: Original legal text. Not legal advice."}