N.M. Admin. Code § 2.40.30.6

Current through Register Vol. 36, No. 1, January 14, 2025

Section 2.40.30.6 - OBJECTIVE

A. There exists an account in the custody of the state treasurer known as the state infrastructure bank. The department shall use money deposited in the bank to encourage investment in transportation systems, including facilities that contribute to the multimodal and intermodal transportation capabilities of the state.

B. The department, and when appropriate, the New Mexico finance authority, shall develop financing techniques designed to expand the availability of funding for transportation projects, reduce direct state costs, maximize private and local participation in financing projects, and improve the efficiency of the state transportation system.

C. This rule specifies the procedures and conditions by which an eligible public entity may apply for and obtain financial assistance from the bank.

N.M. Admin. Code § 2.40.30.6

5/31/99; Recompiled 10/1/01