A. The legislature shall provide for the continued imposition, collection and deposit of the 911 emergency surcharge into the enhanced 911 fund in amounts that, together with other amounts deposited into the fund, will be sufficient to produce an amount necessary to meet annual debt service charges on all respective outstanding enhanced 911 bonds.
B. The legislature shall not repeal, amend or otherwise modify any law that affects the 911 emergency surcharge in a manner that impairs any outstanding enhanced 911 bonds secured by a pledge of the 911 emergency surcharge unless:
(1) the outstanding enhanced 911 bonds to which the revenues from the surcharge are pledged have been discharged in full; or
(2) provision has been made to discharge fully the outstanding enhanced 911 bonds to which the revenues from the surcharge are pledged.
C. Nothing in this section shall require any increase in the 911 emergency surcharge.
History: 1978 Comp., § 63-9D-20, enacted by Laws 1992, ch. 102, § 5; 2001, ch. 110, § 19; 2005, ch. 203, § 13.
ANNOTATIONSThe 2005 amendment, effective July 1, 2005, deleted references to the "network and database surcharge", the "wireless enhanced 911 surcharge" the "network and database surcharge fund", and the "wireless enhanced 911 surcharge fund".
The 2001 amendment, effective July 1, 2001, expanded the provisions of the section to provide for the network and database surcharge and fund and the wireless enhanced 911 surcharge and fund; deleted "Notwithstanding the amount of the 911 emergency surcharge set forth in Subsection A of Section 63-9D-5 NMSA 1978" from the beginning of Subsection A; inserted "to which the revenues from such surcharges are pledged" in Paragraphs B(1) and (2); deleted former Subsection C regarding bonds issued after the effective date of the section; and substituted "the network and database surcharge or the wireless enhanced 911 surcharge" for "set forth in Subsection A of Section 63-9D-5 NMSA 1978" in present Subsection C.