The Public Improvement District Act shall be deemed to provide an additional and alternative method for the doing of things authorized by that act and shall be regarded as supplemental and additional to powers conferred by other laws and shall not be regarded as in derogation of any powers now existing; provided that the issuance of bonds under the provisions of the Public Improvement District Act need not comply with the requirements of any other law applicable to the issuance of bonds, except the Public Securities Limitation of Action Act [6-14-4 to 6-14-7 NMSA 1978], which shall apply.
History: Laws 2001, ch. 305, § 26; 2009, ch. 46, § 4.
ANNOTATIONSThe 2009 amendment, effective June 19, 2009, added the exception at the end of the sentence.
Home rule municipality. — The provisions of the Public Improvement District Act, 5-11-1 NMSA 1978 et seq., do not expressly limit the legislative powers of a home rule municipality; thus, such a municipality has the authority to enter into a contract, or development agreement, with a private developer to facilitate the construction of retail business establishments. 2002 Op. Att'y Gen. No. 02-02.