The purpose of §§ 2-14-2-1 et seq. is to permit the implementation of the Community Development Incentive Act, Sections 3-64-1 through 3-64-5 NMSA 1978, as amended (the “Act”) by authorizing the introduction of resolutions that would exempt specific commercial personal property of a new business facility located within the municipal limits from the imposition of any property tax on the commercial personal property authorized to be imposed by the city subject to certain limitations.
(Ord. 35-2004)