0001|                               AN ACT
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0002| RELATING TO COUNTIES; AMENDING AND ENACTING SECTIONS OF THE COUNTY
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0003| INDUSTRIAL REVENUE BOND ACT AND THE INDUSTRIAL REVENUE BOND ACT TO
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0004| REMOVE A PROVISION REQUIRING PRIOR MUNICIPAL APPROVAL FOR CERTAIN
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0005| COUNTY PROJECTS AND PROVIDE NOTICE BETWEEN COUNTIES AND MUNICIPALITIES
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0006| FOR CERTAIN PROJECTS; PROVIDING FOR DEVELOPMENT OF JOINT CRITERIA FOR
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0007| ISSUANCE OF INDUSTRIAL REVENUE BONDS.
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0008| 
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0009| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0010|      Section 1.  Section 3-32-2 NMSA 1978 (being Laws 1967, Chapter
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0011| 84, Section 1) is amended to read:
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0012|      "3-32-2.  SHORT TITLE.--Chapter 3, Article 32 NMSA 1978 may be
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0013| cited as the "Industrial Revenue Bond Act"."
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0014|      Section 2.  A new section of the Industrial Revenue Bond Act is
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0015| enacted to read:
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0016|      "MUNICIPALITY OVER TWO HUNDRED THOUSAND--NOTICE TO COUNTY.--
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0017|           A.  Prior to adopting an ordinance issuing industrial
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0018| revenue bonds in a municipality with a population in excess of two
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0019| hundred thousand, the municipality shall give notice to the county of
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0020| its intent to consider the matter.  The county shall be notified at
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0021| least thirty days prior to the meeting at which final action is to be
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0022| taken so that comments can be transmitted by the county to the
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0023| municipality.
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0024|           B.  The county shall be able to forward its comments and any
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0025| concerns to the city council, but there is no approval required from
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0001| the county, and the county does not have veto over the proposed
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0002| industrial revenue bond issuance.
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0003|           C.  The municipality and county shall jointly develop
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0004| criteria for issuance of industrial revenue bonds by either
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0005| government; provided, however, that industrial revenue bonds may be
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0006| authorized and issued before development of the criteria is
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0007| completed."
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0008|      Section 3.  Section 4-59-1 NMSA 1978 (being Laws 1975, Chapter
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0009| 286, Section 1) is amended to read:
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0010|      "4-59-1.  SHORT TITLE.--Chapter 4, Article 59 NMSA 1978 may be
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0011| cited as the "County Industrial Revenue Bond Act"."
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0012|      Section 4.  A new section of the County Industrial Revenue Bond
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0013| Act is enacted to read:
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0014|      "CLASS A COUNTY--NOTICE TO MUNICIPALITY OVER TWO HUNDRED
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0015| THOUSAND.--
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0016|           A.  Prior to adopting an ordinance issuing county industrial
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0017| revenue bonds, a class A county shall give notice to a municipality
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0018| with a population in excess of two hundred thousand located within the
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0019| county of its intent to consider the matter.  The municipality shall
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0020| be notified at least thirty days prior to the meeting at which final
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0021| action is to be taken so that comments can be transmitted by the
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0022| municipality to the county.
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0023|           B.  The municipality shall be able to forward its comments
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0024| and any concerns to the board of county commissioners, but there is no
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0025| approval required from the municipality and the municipality does not
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0001| have veto over the proposed county industrial revenue bond issuance.
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0002|           C.  The county and the municipality shall jointly develop
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0003| criteria for issuance of industrial revenue bonds by either
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0004| government; provided, however, that county industrial revenue bonds
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0005| may be authorized and issued before development of the criteria is
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0006| completed."
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0007|      Section 5.  Section 4-59-4 NMSA 1978 (being Laws 1975, Chapter
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0008| 286, Section 4, as amended) is amended to read:
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0009|      "4-59-4.  ADDITIONAL POWERS CONFERRED ON COUNTIES.--In addition
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0010| to any other powers which it may now have, each county shall have the
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0011| following powers:
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0012|           A.  to acquire, whether by construction, purchase, gift or
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0013| lease, one or more projects, which shall be located within this state
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0014| and shall be located within the county outside the boundaries of any
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0015| incorporated municipality; 
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0016|           B.  to sell or lease or otherwise dispose of any or all of
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0017| its projects upon such terms and conditions as the commission may deem
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0018| advisable and as shall not conflict with the provisions of the County
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0019| Industrial Revenue Bond Act; and
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0020|           C.  to issue revenue bonds for the purpose of defraying
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0021| the cost of acquiring, by construction and purchase, or either,
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0022| any project, and to secure the payment of such bonds, all as
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0023| provided in the County Industrial Revenue Bond Act.  No county
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0024| shall have the power to operate any project as a business or in
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0025| any manner except as lessor thereof."         
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