A. The "court facilities fund" is created in the state treasury and shall be administered by the administrative office of the courts. The fund shall consist of court fees and lease and rental revenues transferred to or deposited in the fund, gifts, grants, donations, appropriations and distributions to the fund made pursuant to the Tax Administration Act. B. All court facilities fees and other revenues deposited in the fund shall be distributed monthly to the New Mexico finance authority for deposit in a special bond fund or account of the authority. The New Mexico finance authority may pledge irrevocably all of these distributions to the authority for the payment of principal, interest and any other expenses or obligations related to the bonds issued by the authority for financing the acquisition of real property and for the design, construction, furnishing and equipping of a new court building for the Bernalillo county metropolitan court in Albuquerque and of a parking facility adjacent to the court building. C. Distributions from the court facilities fund to the New Mexico finance authority shall be made upon vouchers issued and signed by the director of the administrative office of the courts upon warrants drawn by the secretary of finance and administration. D. Upon certification by the New Mexico finance authority that all payments of principal, interest and any other expenses or obligations related to the bonds issued by the authority for financing the acquisition of real property and for the design, construction, furnishing and equipping of a new court building for the Bernalillo county metropolitan court in Albuquerque and of a parking facility adjacent to the court building have been satisfied, the court facilities fee shall be eliminated. History: Laws 1998 (1st S.S.), ch. 6, § 7; 2000, ch. 5, § 5; 2023, ch. 184, § 9. Cross references. — For New Mexico finance authority, see 6-21-1 NMSA 1978. The 2023 amendment, effective July 1, 2024, eliminated the court facilities fee upon the full payment of principal and interest of the bonds used for the acquisition and construction of the Bernalillo county metropolitan court and adjacent parking facility; in Subsection A, added "gifts, grants, donations, appropriations and distributions to the fund made pursuant to the Tax Administration Act"; and deleted Subsection D. The 2000 amendment, effective February 15, 2000, inserted "and of a parking facility adjacent to the court building" at the end of Subsection B.
‹ Prev All New Mexico sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.