New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 61 - STATE INDEBTEDNESS AND SECURITIES
Part 7 - DISTRIBUTION OF QUALIFIED ENERGY CONSERVATION BOND ALLOCATIONS
Section 2.61.7.8 - STATE BOARD OF FINANCE DETERMINATIONS

Universal Citation: 2 NM Admin Code 2.61.7.8

Current through Register Vol. 35, No. 18, September 24, 2024

A. The board hereby determines that the following amounts of the state allocation totaling $20,587,000 are allocated to each of the following large local governments, subject to these amounts being returned to the board pursuant to Subsection B of 2.61.7.8 NMAC:

(1) to Bernalillo county $1,173,788, of which not more than $352,136 may be used for private activity bonds;

(2) to Dona Ana county $2,091,561, of which not more than $627,468 may be used for private activity bonds;

(3) to Sandoval county $1,268,799, of which not more than $380,639 may be used for private activity bonds;

(4) to San Juan county $1,270,895, of which not more than $381,268 may be used for private activity bonds;

(5) to Santa Fe county $1,493,296, of which not more than $447,988 may be used for private activity bonds;

(6) to the City of Albuquerque $5,415,557, of which not more than $1,624,667 may be used for private activity bonds.

B. Unused large local government allocations may be reallocated by a large local government, and such unused large local government allocations shall revert to the board and shall become available to other qualified issuers. Large local governments are hereby directed to advise the board in writing no later than September 30, 2014 of any portion of their large local government allocation that will not be used by December 31, 2014. After being advised of a return of large local government allocation, the board shall make an announcement of the amount of the return at its next board meeting. The board shall not consider any requests for reallocation of the returned large local government allocation until the meeting following the announcement of the return.

C. Up to thirty percent of the total state allocation totaling $20,587,000, an amount equal to $6,176,100, may be used for private activity bonds, the proceeds of which may be loaned or otherwise made available to private companies or for privately owned or operated projects.

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