A. The authority is authorized to issue and sell revenue bonds, known as "renewable energy transmission bonds", payable solely from the renewable energy transmission bonding fund, in compliance with the New Mexico Renewable Energy Transmission Authority Act, for the purpose of entering into a project when the authority determines that the project is needed.
B. The net proceeds from the bonds are appropriated to the authority for the purpose of financing or acquiring eligible facilities.
History: Laws 2007, ch. 3, § 5.
ANNOTATIONSEffective date. — Laws 2007, ch. 3, § 19 made Laws 2007, ch. 3, § 5 effective July 1, 2007.