If the tax increment method of financing metropolitan redevelopment projects is used, the base value for distribution of property tax revenues shall be the value used in calculating the limit of general obligation indebtedness imposed by the constitution of New Mexico and the statutes of New Mexico. History: Laws 1979, ch. 391, § 24. ANNOTATIONSDelayed repeals. — Laws 2023, ch. 112, § 14 repealed 3-60A-24 NMSA 1978, effective July 1, 2024. Laws 2024, ch. 62, § 3 changed the effective date of Laws 2023, ch. 112 from July 1, 2024 to January 1, 2025.Cross references. — For constitutional restrictions on municipal indebtedness, see N.M. Const., art. IX, §§ 12, 13.
New Mexico Legal Code