N.M. Admin. Code § 2.91.2.17

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

Section 2.91.2.17 - ADMINISTRATION OF THE COLONIAS INFRASTRUCTURE PROJECT FUND

A. The colonias infrastructure project fund shall be administered by the authority as a separate account, but may consist of such subaccounts as the authority deems necessary to carry out the purposes of the fund.

B. Money from repayments of loans made by the board for qualified projects shall be deposited in the colonias infrastructure project fund. The colonias infrastructure project fund shall also consist of any other money appropriated, distributed or otherwise allocated to the colonias infrastructure project fund for the purpose of financing qualified projects under the act.

C. The authority shall adopt a uniform accounting system for the colonias infrastructure project fund and each account and subaccount established by the authority, based on generally accepted accounting principles.

D. The authority may establish procedures and adopt rules as required to administer the colonias infrastructure project fund and to recover from the colonias infrastructure project fund costs of administering the fund and originating grants and loans.

N.M. Admin. Code § 2.91.2.17

2.91.2.17 NMAC - N, 2/15/12