N.M. Admin. Code § 8.9.9.7

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

Section 8.9.9.7 - DEFINITIONS

A."Act" means the Child Care Facilities Loan Act (Sections 24-24-1 to 24-24-4 NMSA 1978).

B."Agreement" means the document or documents signed by the Authority and the eligible applicant that specifies the terms and conditions of a loan provided under the program.

C."Applicant" means a provider which has filed an application for a loan with the department and the authority.

D."Application" means a written document filed with the Department and the Authority by an applicant for the purpose of obtaining a loan. An application may include a form prescribed by the department and the authority, written responses to requests for information by the department and the authority, or another format as determined by the department and the authority.

E."Authority" means the New Mexico Finance Authority.

F."Authorized representative" means one or more individuals authorized by the governing body of an applicant to act on behalf of the applicant in connection with its application. An authorized representative may act on behalf of the applicant to the extent provided by law.

G."Board" means the New Mexico Finance Authority Board of Directors as created by the New Mexico Finance Authority Act, Sections 6-21-1 to 6-21-31 NMSA 1978.

H."Department" means the New Mexico Early Childhood Education and Care Department.

I."Facility" means a child care facility operated by a provider, including both family home-based and center-based programs, licensed by the department to provide care to infants, toddlers, and children.

J."Fund" means the child care facility revolving loan fund held by the authority pursuant to the act.

K."Loan" means a loan from the fund.

L."Operating Capital" means funds needed to meet short-term obligations, such as accounts payable, wages, debt servicing, lease and income tax payments.

M."Project" means health and safety improvements to a child care facility, including physical improvement, repair, maintenance, expansion and operation of a child care facility providing a healthy and safe teaching environment.

N."Provider" means a person licensed by the department to provide child care to infants, toddlers and children pursuant to 8.9.4 NMAC.

O."Rules" means these Child Care Facility Loan Act fund program regulations.

N.M. Admin. Code § 8.9.9.7

Adopted by New Mexico Register, Volume XXXV, Issue 24, December 23, 2024, eff. 12/23/2024