NM Stat § 73-21-28 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-28 - Board resolution; indebtedness; election.

Whenever the board shall, by resolution, determine that the interest of the district and the public interest or necessity demand the acquisition, construction, installation or completion of any works or other improvements or facilities, or the making of any contract with the United States or other persons or corporations, to carry out the objects or purposes of the district, requiring the creation of a general obligation indebtedness of five thousand dollars ($5,000) or more, secured by property tax revenue from within the district, the board shall order the submission of the proposition of issuing the obligations or bonds or creating other indebtedness to the qualified electors of the district at a district election held in accordance with the provisions of the Local Election Act [Chapter 1, Article 22 NMSA 1978]. The declaration of public interest or necessity required in this section and the provision for the holding of the election may be included within one and the same resolution. The resolution, in addition to the declaration of public interest or necessity, shall recite the objects and purposes for which the indebtedness is proposed to be incurred, the estimated cost of the works or improvements, as the case may be, the amount of principal of the indebtedness to be incurred and the maximum rate of interest to be paid on the indebtedness. The resolution shall also announce the date upon which the election shall be held; provided that the date is not in conflict with the provisions of Section 1-24-1 NMSA 1978. History: 1941 Comp., § 77-3425, enacted by Laws 1943, ch. 80, § 25; 1953 Comp., § 75-18-25; 1978 Comp., § 73-21-28; 2009, ch. 241, § 4; 2018, ch. 79, § 171; 2019, ch. 212, § 266. ANNOTATIONSThe 2019 amendment, effective April 3, 2019, provided that the date for a bond election shall not conflict with the provisions of the Special Election Act; after "Section", deleted "1-12-71" and added "1-24-1".The 2018 amendment, effective July 1, 2018, provided that elections called for the purpose of voting on the question of issuing bonds to carry out the objects or purposes of the district be held in accordance with the provisions of the Local Election Act, and prohibited the board from scheduling an election on a date that conflicts with the provisions of Section 1-12-71 NMSA 1978; and after "a district election held", deleted "for that purpose. Any such election may be held separately or may be consolidated or held concurrently with any other election authorized by the Water and Sanitation District" and added "in accordance with the provisions of the Local Election", after "the election shall be held", deleted "and the manner of holding it and the method of voting for or against the incurring of the proposed indebtedness. The resolution shall also fix the compensation to be paid the officers of the election and shall designate the polling place and shall appoint, for each polling place from the electors of the district, the officers of the election consisting of three judges, one of whom shall act as clerk" and added "provided that the date is not in conflict with the provisions of Section 1-12-71 NMSA 1978". The 2009 amendment, effective June 19, 2009, in the first sentence, after "requiring the creation of a", added "general obligation"; and after "($5,000) or more", added "secured by property tax revenue from within the district, the". County improvements. — Issuance by water and sanitation district of bonds pursuant to provisions of County Improvements Law (now County Improvement District Act, Section 4-55A-1 NMSA 1978 et seq.) would not require election specified in this section. 1976 Op. Att'y Gen. No. 76-01. Am. Jur. 2d, A.L.R. and C.J.S. references. — 39A C.J.S. Health and Environment § 56.