New Mexico § 71-10-5 - Authority; powers; duties

§ 71-10-5. Authority; powers; duties

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: (1) have perpetual existence; (2) sue and be sued; (3) adopt bylaws, policies and procedures; (4) employ a director, who may employ staff as necessary to administer the authority; (5) fix the time and place of meetings and the method of providing notice of the meetings; (6) make and pass orders and resolutions necessary for governing and managing the

authority and executing the powers of the authority; (7) adopt and use a seal; (8) create and define the duties of advisory committees; (9) enter into contracts and agreements; (10) borrow money and issue bonds; (11) pledge all or a portion of its revenue to the payment of its bonds; (12) issue refunding revenue bonds to refinance, pay or discharge all or part of its

outstanding revenue bonds; (13) impose liens; (14) acquire, dispose of or encumber real or personal property or interests in real

or personal property, including leases and easements; (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; (16) sell, transfer or convey real or personal property or interests in real or personal

property acquired by the authority; (17) alter the boundaries of the district with the approval of the counties that are

part of the district; (18) establish standards and long-term development plans; (19) apply to a public or private source for a loan, grant, guarantee or other type

of financial assistance; and (20) exercise the rights and powers necessary or incidental to or implied by the specific

powers granted by this section. B. An authority shall: (1) govern the district; (2) adopt rules to govern its conduct, including standards and procedures for calling

emergency meetings and a conflicts-of-interest policy; (3) use district property to create jobs and foster economic development in all areas

it deems appropriate and in the public welfare; and (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.