A governmental unit, for the purpose of aiding the financing, construction, operation or maintenance of a regional transit system, may:
A. sell, lease, loan, donate, grant, convey, assign, transfer and otherwise dispose to the district real or personal property or interests therein;
B. enter into agreements with a person for the joint financing, construction, operation or maintenance of a regional transit system. Upon compliance with applicable constitutional or charter limitations, the governmental unit may agree to make payments, without limitation as to amount except as set forth in the agreement, from revenues received from one or more fiscal years, to the district or a person to defray the costs of the financing, construction, operation or maintenance of a regional transit system; and
C. transfer to the district a contract that may have been awarded by the governmental unit for construction, operation or maintenance of a regional transit system.
History: Laws 2003, ch. 65, § 13.
ANNOTATIONSEffective dates. — Laws 2003, ch. 65, contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 20, 2003, 90 days after adjournment of the legislature.