Section 58-27-3 - Definitions.
58-27-3. Definitions.
As used in the Border Development Act [58-27-1 NMSA 1978]:
A. "authority" means the border authority;
B. "mortgage" means a mortgage or a mortgage and deed of trust or the pledge and hypothecation of any assets as collateral security;
C. "port of entry" means any international port of entry in New Mexico at which customs services are provided by the United States customs service;
D. "project" means any land or building or any other improvements acquired as a part of a port of entry or associated with a port of entry or to aid commerce in connection therewith, and all real and personal property deemed necessary in connection therewith, whether or not now in existence, which is suitable for use by the following or by any combination of the following:
(1) a port of entry, a foreign trade zone and other facilities to be used by any agency or entity of the United States government or by any other foreign international state or local public agency or entity at the port of entry or foreign trade zone;
(2) an industry for the manufacturing, processing or assembling of any agricultural, mining or manufactured product;
(3) a railroad switching yard, railroad station, bus terminal, airport or other passenger, commuter or mass transportation system or freight transportation system;
(4) a commercial business or other enterprise engaged in storing, warehousing, distributing or selling products of manufacturing, agriculture, mining or related industries, not including facilities designed for the distribution to the public of electricity or gas;
(5) an enterprise in which all or part of the activities of the enterprise involve supplying services to the general public or to governmental agencies or to a specific industry or customer;
(6) any industrial, commercial, agricultural, professional or other business enterprise seeking to occupy office space;
(7) infrastructure development involving acquiring, repairing, improving or maintaining storm sewers and other drainage improvements, sanitary sewers, sewage treatment or water utilities, including acquiring rights of way or water rights;
(8) infrastructure development involving reconstructing, resurfacing, maintaining, repairing or improving existing alleys, streets, roads or bridges or laying off, opening, constructing or acquiring new alleys, streets, roads or bridges, including acquiring rights of way;
(9) any industry that involves any water distribution or irrigation system, including pumps, distribution lines, transmission lines, fences, dams and similar facilities and equipment, including acquiring rights of way; or
(10) fire protection services or equipment or police protection services or equipment;
E. "property" means land, improvements to the land, buildings and improvements to the buildings, machinery and equipment of any kind necessary to the project, operating capital and any other personal properties deemed necessary in connection with the project;
F. "bond" means any bonds, notes or other obligations; and
G. "bondholder" means a person who is the owner of a bond, regardless whether the bond is registered.