New Mexico § 67-3-59.4 - State transportation project bonds; authorization and appropriation; priorities; criteria; reports
Full text of New Mexico New Mexico Statutes Annotated § 67-3-59.4 — State transportation project bonds; authorization and appropriation; priorities; criteria; reports, with citation guidance and answers to common questions.
§ 67-3-59.4. State transportation project bonds; authorization and appropriation; priorities; criteria; reports
A. It is the intent of the legislature to authorize the New Mexico finance authority
to issue state transportation project bonds pursuant to Section 67-3-59.3 NMSA 1978 for projects specified in Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28, Laws
2020 (1st S.S.), Chapter 3, Section 8 and Section 1 of this 2021 act in the total
aggregate principal amount of one billion five hundred eighty-five million dollars
($1,585,000,000). B. The state transportation commission may authorize the New Mexico finance authority
to issue and sell state transportation project bonds. The proceeds of the bonds are appropriated to the department of transportation for
projects listed in Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28, Laws 2020
(1st S.S.), Chapter 3, Section 8 and Section 1 of this 2021 act. C. The department of transportation shall provide to the legislature and the governor
a report on transportation priorities and progress. The report shall include: (1) justification of priority ranking of projects, including the following for each
highway project enumerated in Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28: (a) traffic counts and accident rates and the expected improvements to traffic flow,
health and safety; (b) the ranking of the pavement and substructure conditions; (c) an assessment of economic development impacts; and (d) other information deemed significant by the department; (2) the expected life of the proposed improvement; (3) sufficiency of revenue to pay the principal and interest of all outstanding and
proposed bonds based on a five- and twenty-year financial forecast for the state road
fund and the effect of the bond program on the department's construction and maintenance
program; (4) status report of ongoing major construction; (5) the relationship between the requested projects and the statewide transportation
improvement program; and (6) any other information requested by the legislature or the executive. D. The department of transportation shall provide quarterly progress reports to the
department of finance and administration and the legislative finance committee. E. The department of transportation shall adopt and enforce rules with the goal that
no less than seventy percent of the work force of an exclusively state-funded project
authorized in Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28 shall be residents
of New Mexico.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 67-3-59.4
What does New Mexico Statutes Annotated § 67-3-59.4 cover?
Section 67-3-59.4 ("State transportation project bonds; authorization and appropriation; priorities; criteria; reports") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 67-3-59.4?
A common citation format is "New Mexico Statutes Annotated § 67-3-59.4" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 67-3-59.4 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.