4-62-1.1. Definitions.
312 words·~1 min read·
/nm/chapter-4-counties/article-62-revenue-bonds/4-62-1-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in Chapter 4, Article 62 NMSA 1978:
A. "bond" means any obligation of a county issued under Chapter 4, Article 62 NMSA 1978, whether designated as a bond, note, loan, warrant, debenture, lease- purchase agreement or other instrument evidencing an obligation of a county to make payments;
B. "emergency medical services bonds" means the bonds authorized by Subsection I of Section 4-62-1 NMSA 1978;
C. "gasoline tax revenue" means the revenue from that portion of the gasoline tax distributed to the county pursuant to Sections 7-1-6.9 and 7-1-6.26 NMSA 1978;
D. "gasoline tax revenue bonds" means the bonds authorized by Subsection C of Section 4-62-1 NMSA 1978;
E. "gross receipts tax revenue" means the revenue attributable to the county gross receipts tax transferred to the county pursuant to Section 7-1-6.13 NMSA 1978 and any distribution made pursuant to Section 7-1-6.16 NMSA 1978;
F. "gross receipts tax revenue bonds" means the bonds authorized by Subsection B of Section 4-62-1 NMSA 1978;
G. "PILT revenue" means revenue received by a county from the federal government as payments in lieu of taxes;
H. "pledged revenue" means the revenue, net income or net revenue authorized to be pledged to the payment of particular revenue bonds as specifically provided in Section 4-62-1 NMSA 1978;
I. "project revenues" means the net revenues of revenue-producing projects that may be pledged to project revenue bonds pursuant to Subsection E of Section 4-62-1 NMSA 1978;
J. "public project" means "public project" as defined in Subsection E of Section 6- 21-3 NMSA 1978;
K. "utility" means a water, wastewater, sewer, gas or electric utility or joint utility servicing the public; and
L. "utility revenue bonds" or "joint utility revenue bonds" means the bonds authorized by Subsection D of Section 4-62-1 NMSA 1978.
History: 1978 Comp., § 4-62-1.1, enacted by Laws 2019, ch. 274, § 5; 2025, ch. 23, § 4.