New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 61 - STATE INDEBTEDNESS AND SECURITIES
Part 9 - DETERMINATIONS OF THE STATE BOARD OF FINANCE
Section 2.61.9.3 - STATUTORY AUTHORITY

A. Section 4-59-15 NMSA 1978 provides that if any representative of an existing business or enterprise located within the boundaries of the county or within five miles of the proposed county industrial revenue bond project alleges, in a written complaint filed with the county governing body within 15 days of the meeting at which an ordinance or resolution authorizing the issuance of county industrial revenue bonds is adopted, that the proposed project would directly and substantially compete with such an existing business or enterprise located within the boundaries of the county or within five miles of the proposed project, the bonds in connection with that project shall not be issued until the board has determined that the proposed project will not directly or substantially compete with an existing business or enterprise located within the boundaries of the county or within five miles of the proposed project. The board shall conduct a hearing and make a determination within 90 days of receiving a request for determination from the county. An existing business or enterprise for which county industrial revenues bonds were previously issued by the county shall not be entitled to file a complaint pursuant to Section 4-59-15 NMSA 1978.

B. As with other matters before the board, records submitted to the board pursuant to Section 4-59-15 NMSA 1978 and this rule are subject to inspection pursuant to the Inspection of Public Records Act, Sections 14-2-1 to -12 NMSA 1978, as amended, unless exempted from inspection pursuant to Subsection A of Section 14-2-1 NMSA 1978.

C. There is no provision in law placing the board or its procedures under the Administrative Procedures Act, Sections 12-8-1 to -25 NMSA 1978, as amended (see Section 12-8-23 NMSA 1978). As such, determinations by the board made pursuant to Sections 4-59-15 NMSA 1978 and 42-2-3 NMSA 1978 are not adjudicatory proceedings as described in Section 12-8-2 NMSA 1978 and may be conducted through administrative hearings, as described therein. See State ex rel. King v. Lyons, 2011-NMSC-004, 26, 149 N.M. 330.

D. Section 42-2-3 NMSA 1978 provides that the state may acquire, either temporarily or permanently, public or privately owned lands, real property or any interests therein, including water rights or any easements deemed necessary or desirable for present or future public road, street or highway purposes by gift, agreement, purchase, exchange, condemnation or otherwise. Such lands or interests in real property may be acquired in fee simple. The state may use the special alternative procedure to acquire lands or any interest therein for any public purpose for which the power of eminent domain may be properly exercised. And for purposes of Section 42-2-3 NMSA 1978, when state-owned property must be taken, the board shall first determine the greater public need, unless the state defendant in whom title is vested concedes that the purposes for which the property is sought to be taken is the greater public need.