Section 5-17-13 - Approval by an annexing municipality. - New Mexico Statutes

5-17-13. Approval by an annexing municipality.

A.     If an infrastructure development zone that was not originally approved by the governing body of a municipality becomes wholly contained within the boundaries of a municipality by annexation, the board may petition the governing body of the municipality to accept a designation as the approving authority for the infrastructure development zone.  The municipality may accept the designation through the adoption of a resolution of approval by the governing body of the municipality.

B.     Upon the adoption of the resolution by the governing body of a municipality pursuant to Subsection A of this section, all powers and authorities vested in the approving authority pursuant to the Infrastructure Development Zone Act [5-17-1 NMSA 1978] shall be transferred to the governing body of the municipality, which shall constitute the approving authority for the infrastructure development zone for all purposes under that act.