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Current as of January 01, 2024 | Updated by Findlaw Staff
A. Bonds issued pursuant to the 2026 Capital Projects General Obligation Bond Act shall be submitted to the registered voters of the state at the general election to be held in November 2026, and, if they receive a majority of all the votes cast thereon at such election, shall take effect upon certification of the state canvassing board announcing the results of the election. No bonds shall be issued or sold under that act until the registered voters of this state have voted upon and approved the bonds and property tax as provided in this section. Any bonds issued under that act shall be issued within thirty months from the date of such election.
B. The ballots used at the 2026 general election shall contain substantially the following language:
(1) “The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of senior citizen facility improvement, construction and equipment acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed twenty-one million five hundred eighty-two thousand two hundred thirteen dollars ($21,582,213) to make capital expenditures for certain senior citizen facility improvement, construction and equipment acquisition projects and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?
For_______________ Against_______________”;
(2) “The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of library acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed nineteen million three hundred twenty-four thousand one hundred eighty-eight dollars ($19,324,188) to make capital expenditures for academic, public school, public and tribal library resource acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?
For_______________ Against_______________”; and
(3) “The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of higher education, special schools and tribal schools capital improvement and acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed three hundred fifty-two million two hundred twenty-five thousand three hundred seventy-nine dollars ($352,225,379) to make capital expenditures for certain higher education, special schools and tribal schools capital improvements and acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?
For_______________ Against_______________”.
C. Each question set forth in this section includes a specific work or object to be financed by the bonds. If any such question is not approved by a majority vote of the electorate at the state's 2026 general election, the issuance of bonds for the work or object specified by the question shall be excluded from and shall not be part of the 2026 Capital Projects General Obligation Bond Act. The failure of a question to be approved by the electorate at the 2026 general election shall not affect those questions that are approved at the election.
D. The secretary of state shall include the submission of the capital projects general obligation bonds to the people at the 2026 general election, and it shall be included in the general election proclamation. The secretary of state shall cause the 2026 Capital Projects General Obligation Bond Act to be published in full in at least one newspaper in each county of the state if one be published therein, once each week, for four successive weeks next preceding the general election as required by the constitution of New Mexico.
Cite this article: FindLaw.com - New Mexico Appendix: 2026 Undesignated Legislative Enactments § *-*-*. Election - last updated January 01, 2024 | https://codes.findlaw.com/nm/appendix-2026-undesignated-legislative-enactments/nm-st-sect--nr32/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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