A. The authority is not subject to the jurisdiction of the public regulation commission or the terms and provisions of the Public Utility Act [Chapter 62, Articles 1 to 6 and 8 to 13 NMSA 1978] except as provided in Subsection B of this section.
B. The authority may elect by resolution adopted by its board to become subject to the jurisdiction of the public regulation commission and to the terms and provisions of the Public Utility Act; provided, however, that in no event shall Sections 62-9-1 through 62-9-7 NMSA 1978 apply to the authority when making such an election.
C. The authority shall be subject to the rules and regulations of the state engineer and the applicable articles of Chapter 72 NMSA 1978.
History: Laws 2010, ch. 39, § 19.
ANNOTATIONSEffective dates. — Laws 2010, ch. 39, § 21 made the Eastern New Mexico Water Utility Authority Act effective July 1, 2010.
Temporary provisions. — Laws 2010, ch. 39, § 20 provided that all functions, appropriations, money, records, contracts, equipment and other real and personal property pertaining to the eastern New Mexico rural water authority shall be transferred to the eastern New Mexico water utility authority. Debts of the eastern New Mexico rural water authority shall be debts of the eastern New Mexico water utility authority. The eastern New Mexico water utility authority shall not impair the rights of any bondholders of outstanding bonds of the eastern New Mexico rural water authority. All contractual obligations of the eastern New Mexico rural water authority and the counties and municipalities that have the power to appoint a member to the board of directors of the eastern New Mexico water utility authority shall be binding on the eastern New Mexico water utility authority. The public regulation commission shall audit the eastern New Mexico rural water authority prior to the transfer of money, assets and debts to the eastern New Mexico water utility authority.