{"data":{"id":"us-nm/71-10-5","jurisdiction":"us-nm","citation":"71-10-5","heading":"Authority; powers; duties.","body":"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:\n(1) have perpetual existence;\n(2) sue and be sued;\n(3) adopt bylaws, policies and procedures;\n(4) employ a director, who may employ staff as necessary to administer the authority;\n(5) fix the time and place of meetings and the method of providing notice of the meetings;\n(6) make and pass orders and resolutions necessary for governing and managing the authority and executing the powers of the authority;\n(7) adopt and use a seal;\n(8) create and define the duties of advisory committees;\n(9) enter into contracts and agreements;\n(10) borrow money and issue bonds;\n(11) pledge all or a portion of its revenue to the payment of its bonds;\n(12) issue refunding revenue bonds to refinance, pay or discharge all or part of its outstanding revenue bonds;\n(13) impose liens;\n(14) acquire, dispose of or encumber real or personal property or interests in real or personal property, including leases and easements;\n(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;\n(16) sell, transfer or convey real or personal property or interests in real or personal property acquired by the authority;\n(17) alter the boundaries of the district with the approval of the counties that are part of the district;\n(18) establish standards and long-term development plans;\n(19) apply to a public or private source for a loan, grant, guarantee or other type of financial assistance; and\n(20) exercise the rights and powers necessary or incidental to or implied by the specific powers granted by this section.\nB. An authority shall:\n(1) govern the district;\n(2) adopt rules to govern its conduct, including standards and procedures for calling emergency meetings and a conflicts-of-interest policy;\n(3) use district property to create jobs and foster economic development in all areas it deems appropriate and in the public welfare; and\n(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.","path":["Chapter 71 - Energy and Minerals","ARTICLE 10 Electric Generating Facility Economic District"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18574/index.do","current_through":"2025-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"cdc2510f3cd12cf334444c5f0b93121cc3d4405f0deb5543c787ba2e5e96c7ef","source_id":"us-nm","stale":false,"prev":"us-nm/71-10-4","next":"us-nm/71-10-6"},"notice":"GroundRules: Original legal text. Not legal advice."}