Section 5-18-3 - Definitions. - New Mexico Statutes

5-18-3. Definitions.

As used in the Renewable Energy Financing District Act [5-18-1 NMSA 1978]:

A.     "county" means any county, including an H class county;

B.     "debt service" means the principal of, interest on and premium, if any, on the bonds, when due, whether at maturity or prior redemption and fees and costs of agents necessary to handle the bonds and the costs of credit enhancement or liquidity support;

C.     "district" means a renewable energy financing district formed pursuant to the Renewable Energy Financing District Act by a municipality or by a county in an unincorporated area or in an incorporated area with the municipality's consent;

D.     "district board" means the board of directors of the district, which shall be composed of the members of the governing body of the municipality or county in which the district is located, or at the option of the governing body, five directors appointed by the governing body, as provided in Section 9 [5-18-9 NMSA 1978] of the Renewable Energy Financing District Act.  The board shall serve until replaced by elected directors, which shall occur not later than six years after the date on which the resolution establishing the district is enacted;

E.     "election" means an election held in compliance with the provisions of the Renewable Energy Financing District Act;

F.     "governing body" means the body or board that by law is constituted as the governing body of the municipality or county in which the district is located; 

G.     "municipality" means an incorporated city, village or town;

H.     "owner" means the person who is listed as the owner of real property in the district on the current property tax assessment roll;

I.     "renewable energy improvement" means a photovoltaic, solar thermal, geothermal or wind energy system permanently installed on real property; and

J.     "special assessment" means a levy imposed against real property within a district.