New Mexico Statutes Chapter 3. Municipalities § 3-60A-28. General powers

A. to acquire, whether by construction, purchase, gift, devise, lease or sublease; to improve and equip; and to finance, sell, lease or otherwise dispose of one or more projects or part thereof. If a local government issues revenue bonds as provided by the Metropolitan Redevelopment Code to finance or acquire projects, the projects shall be located within the jurisdiction of the local government and within a metropolitan redevelopment area;

B. to enter into financing agreements with others for the purpose of providing revenues to pay the bonds authorized by the Redevelopment Bonding Law; to lease, sell or otherwise dispose of any or all of its projects to others for revenue and upon terms and conditions the local government may deem advisable; and to grant options to renew any lease or other agreement with respect to the project and to grant options to buy any project at a price the local government deems desirable;

C. to issue revenue bonds for the purpose of defraying the cost of financing, acquiring, improving and equipping any project, including the payment of principal and interest on the bonds for a period not to exceed three years and all other incidental expenses incurred in issuing the bonds; and

D. to secure payment of revenue bonds as provided in the Redevelopment Bonding Law.