A. Revenue bonds may be issued at any time by a qualified municipality that has imposed a convention center fee to defray wholly or in part the costs authorized in Paragraph (1) of Subsection C of Section 5-14-4 NMSA 1978. The revenue bonds may be payable from and payment may be secured by a pledge of and lien on the revenue derived from:
(1) the proceeds of the convention center fee of the qualified municipality and the proceeds of the convention center fee of a county that has entered into a joint powers agreement with the qualified municipality to impose a convention center fee, the proceeds of which shall be dedicated to the payment of revenue bonds for a civic and convention center in the qualified municipality;
(2) a civic and convention center to which the bonds pertain, after provision is made for the payment of the operation and maintenance expenses of the civic and convention center;
(3) that portion of the proceeds of the occupancy tax of the qualified municipality available for payment of revenue bonds pursuant to Paragraph (1) of Subsection B of Section 3-38-23 NMSA 1978;
(4) any other legal available revenues of the qualified municipality; or
(5) a combination of revenues from the sources designated in Paragraphs (1) through (4) of this subsection.
B. The bonds shall bear interest at a rate or rates as authorized in the Public Securities Act [6-14-1 NMSA 1978], and the first interest payment may be for any period authorized in the Public Securities Act.
C. Except as otherwise provided in the Civic and Convention Center Funding Act [5-14-1 NMSA 1978], revenue bonds authorized in that act shall be issued in accordance with the provisions of Sections 3-31-2 through 3-31-6 NMSA 1978.
A. Revenue bonds may be issued at any time by a qualified municipality that has imposed a convention center fee to defray wholly or in part the costs authorized in Paragraph (1) of Subsection C of Section 5-14-4 NMSA 1978. The revenue bonds may be payable from and payment may be secured by a pledge of and lien on the revenue derived from:
(1) the proceeds of the convention center fee of the qualified municipality and the proceeds of the convention center fee of a county that has entered into a joint powers agreement with the qualified municipality to impose a convention center fee, the proceeds of which shall be dedicated to the payment of revenue bonds for a civic and convention center in the qualified municipality;
(2) a civic and convention center to which the bonds pertain, after provision is made for the payment of the operation and maintenance expenses of the civic and convention center;
(3) that portion of the proceeds of the occupancy tax of the qualified municipality available for payment of revenue bonds pursuant to Paragraph (1) of Subsection B of Section 3-38-23 NMSA 1978;
(4) any other legal available revenues of the qualified municipality; or
(5) a combination of revenues from the sources designated in Paragraphs (1) through (4) of this subsection.
B. The bonds shall bear interest at a rate or rates as authorized in the Public Securities Act [6-14-1 NMSA 1978], and the first interest payment may be for any period authorized in the Public Securities Act.
C. Except as otherwise provided in the Civic and Convention Center Funding Act [5-14-1 NMSA 1978], revenue bonds authorized in that act shall be issued in accordance with the provisions of Sections 3-31-2 through 3-31-6 NMSA 1978.
A. Revenue bonds may be issued at any time by a qualified municipality that has imposed a convention center fee to defray wholly or in part the costs authorized in Paragraph (1) of Subsection C of Section 5-14-4 NMSA 1978. The revenue bonds may be payable from and payment may be secured by a pledge of and lien on the revenue derived from:
(1) the proceeds of the convention center fee of the qualified municipality and the proceeds of the convention center fee of a county that has entered into a joint powers agreement with the qualified municipality to impose a convention center fee, the proceeds of which shall be dedicated to the payment of revenue bonds for a civic and convention center in the qualified municipality;
(2) a civic and convention center to which the bonds pertain, after provision is made for the payment of the operation and maintenance expenses of the civic and convention center;
(3) that portion of the proceeds of the occupancy tax of the qualified municipality available for payment of revenue bonds pursuant to Paragraph (1) of Subsection B of Section 3-38-23 NMSA 1978;
(4) any other legal available revenues of the qualified municipality; or
(5) a combination of revenues from the sources designated in Paragraphs (1) through (4) of this subsection.
B. The bonds shall bear interest at a rate or rates as authorized in the Public Securities Act [6-14-1 NMSA 1978], and the first interest payment may be for any period authorized in the Public Securities Act.
C. Except as otherwise provided in the Civic and Convention Center Funding Act [5-14-1 NMSA 1978], revenue bonds authorized in that act shall be issued in accordance with the provisions of Sections 3-31-2 through 3-31-6 NMSA 1978.
