reglab/housing_qa huggingface dataset:
NM Stat § 73-21-32 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-32 - Correction of faulty notices.

In any and every case where a notice is provided for in this act, if the court finds any reason that due notice was not given, the court shall not thereby lose jurisdiction, and the proceeding in question shall not thereby be void or be abated, but the court shall in that case order due notice to be given, and shall continue the hearing until such time as notice shall be properly given, and thereupon shall proceed as though notice has [had] been properly given in the first instance. History: 1941 Comp., § 77-3429, enacted by Laws 1943, ch. 80, § 29; 1953 Comp., § 75-18-29. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Compiler's notes. — The term "this act" means Laws 1943, Chapter 80, which appears as 73-21-1, 73-21-3 to 73-21-14, 73-21-16 to 73-21-26, 73-21-28 to 73-21-35 NMSA 1978. But see 73-21-2 NMSA 1978. Cross references. — For provision making order establishing district final, and reviewable only by writ of quo warranto commenced by attorney general within 30 days, see 73-21-9 NMSA 1978.
NM Stat § 73-21-33 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-33 - Early hearings.

All cases in which there may arise a question of the validity of the organization of a district, or a question of the validity of any proceeding under this act shall be advanced as a matter of immediate public interest and concern, and heard at the earliest practicable moment. The courts shall be open at all times for the purposes of this act. History: 1941 Comp., § 77-3430, enacted by Laws 1943, ch. 80, § 30; 1953 Comp., § 75-18-30. ANNOTATIONSCompiler's notes. — The term "this act" means Laws 1943, Chapter 80, which appears as 73-21-1, 73-21-3 to 73-21-14, 73-21-16 to 73-21-26, 73-21-28 to 73-21-35 NMSA 1978. But see 73-21-2 NMSA 1978. Cross references. — For provision making order establishing district final, and reviewable only by writ of quo warranto commenced by attorney general within 30 days, see 73-21-9 NMSA 1978.
NM Stat § 73-21-34 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-34 - Liberal construction.

This act being necessary to secure and preserve the public health, safety, convenience and welfare, it shall be liberally construed to effect its purposes. History: 1941 Comp., § 77-3431, enacted by Laws 1943, ch. 80, § 31; 1953 Comp., § 75-18-31. ANNOTATIONSCompiler's notes. — The term "this act" means Laws 1943, Chapter 80, which appears as 73-21-1, 73-21-3 to 73-21-14, 73-21-16 to 73-21-26, 73-21-28 to 73-21-35 NMSA 1978. But see 73-21-2 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 39A C.J.S. Health and Environment § 5.
NM Stat § 73-21-35 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-35 - Character of act.

No part of this act shall repeal or affect any other act or any part thereof, it being intended that this act shall provide a separate method of accomplishing its objects, and not an exclusive one. History: 1941 Comp., § 77-3432, enacted by Laws 1943, ch. 80, § 33; 1953 Comp., § 75-18-32. ANNOTATIONSCompiler's notes. — The term "this act" means Laws 1943, Chapter 80, which appears as 73-21-1, 73-21-3 to 73-21-14, 73-21-16 to 73-21-26, 73-21-28 to 73-21-35 NMSA 1978. But see 73-21-2 NMSA 1978.
NM Stat § 73-21-36 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-36 - Acquisition, construction or improvement of systems; joint revenue bonds.

A. Whenever the board of a district shall, by resolution, determine that interest or necessity requires the acquisition, construction, repair, extension, improvement or betterment of a water system, sewer system or other fee-for-service system, districts are authorized to issue revenue bonds or obtain loans, payable solely out of the net income, to be derived from the operation of a publicly owned water system or sewer system or from services rendered by the district for a fee, and to pledge, irrevocably, the income to the payment of the bonds. B. The proceeds of the bonds are to be used solely for the purchasing, acquiring, constructing and making of necessary improvements, extensions, repairs and betterments of the water system, sewer system or other fee-for-service system for the purchase and acquiring of wells, cisterns, reservoirs or other sources of water supply and pumping plants, sewage disposal plants or other machinery necessary for the operation of those facilities and the land and real estate upon which those facilities are situated or to be situated. C. Joint revenue bonds may be issued for the acquisition, construction, extension, enlargement or betterment of a joint water system and joint sewer system or other joint fee-for-service system and the income of one or more of the utilities may be pledged to secure the repayment of the joint bonds. History: 1941 Comp., § 77-3433, enacted by Laws 1951, ch. 195, § 1; 1953 Comp., § 75-18-33; 1978 Comp., § 73-21-36; 2009, ch. 241, § 5. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, in Subsection A, after "sewer system", added "or other fee-for-service system"; after "issue revenue bonds", added "or obtain loans"; and after "water system or sewer", added "system or from services rendered by the district for a fee"; in Subsection B, after "sewer system or", added "other fee-for-service system"; and in Subsection C, after "sewer system", added "or other joint fee-for-service system". Am. Jur. 2d, A.L.R. and C.J.S. references. — 39A C.J.S. Health and Environment § 56.
NM Stat § 73-21-37 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-37 - Interest; maturity; form; method of sale.

A. Revenue bonds issued under the provisions of the Water and Sanitation District Act shall bear interest at not to exceed six percent per year, payable annually or semiannually, shall be payable at the option of the district, at the end of ten years from the date thereof; and due by their terms in not more than twenty years from date hereof; as determined by the district, shall be serial in form and maturity and numbered from one upward, consecutively, or may consist of one bond payable, at one time or in installments, and shall be sold for cash, at not less than par, and at either public or private sale. B. All prior revenue bond issues of districts where one bond was issued in lieu of multiple bonds are validated. History: 1941 Comp., § 77-3434, enacted by Laws 1951, ch. 195, § 2; 1953 Comp., § 75-18-34; 1978 Comp., § 73-21-37; Laws 1980, ch. 79, § 1; 2009, ch. 241, § 6. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, made grammatical changes.
NM Stat § 73-21-38 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-38 - Revenue bond issuance.

The board of a district issuing revenue bonds under the provisions of the Water and Sanitation District Act may authorize the issuance of the bonds by resolution adopted by the affirmative vote of two-thirds of all the members of the board at a regular or special meeting called for that purpose. At the meeting, the necessity of the issuance of the revenue bonds shall be declared and, when issued, shall be signed by the president of the board and attested by its secretary, with the seal of the district affixed to the bonds. History: 1941 Comp., § 77-3435, enacted by Laws 1951, ch. 195, § 3; 1953 Comp., § 75-18-35; 1978 Comp., § 73-21-38; 2009, ch. 241, § 7. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, in the second sentence, at the beginning of the sentence, added "At the meeting"; and after "the necessity" added "of the issuance of the revenue bonds". Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Waterworks and Water Companies §§ 3, 4. 94 C.J.S. Waters § 290.
NM Stat § 73-21-39 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-39 - Bonds collectible from operating revenues.

It is declared that revenue bonds, issued under the provisions of the Water and Sanitation District Act, except for those general obligation bonds described in Section 73-21-43 NMSA 1978, shall not be considered to be general obligations of the district issuing them and shall be collectible only out of the net revenues derived from the operation of the water or sewer system, or joint water and sewer systems or from services rendered by the district for a fee, whose income is so pledged. Each of the bonds of any issue of revenue bonds issued under the provisions of the Water and Sanitation District Act, with the exception of general obligation bonds, shall recite on its face that it is payable and collectible solely from the revenues derived from the operations of the water or sewer system or joint water and sewer system or from the services rendered by the district for a fee, the income of which is so pledged, and that the holders of the bonds shall not look to any general or other fund for the payment of principal and interest of the obligation. History: 1941 Comp., § 77-3436, enacted by Laws 1951, ch. 195, § 4; 1953 Comp., § 75-18-36; 1978 Comp., § 73-21-39; 2009, ch. 241, § 8. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, in the first sentence, after "Water and Sanitation District Act", added "except for those general obligation bonds described in Section 73-21-43 NMSA 1978"; and after "joint water and sewer systems", added "or from services rendered by the district for a fee"; and in the second sentence, after "Water and Sanitation District Act", added "with the exception of general obligation bonds"; and after "joint water and sewer systems", added "or from services rendered by the district for a fee". Am. Jur. 2d, A.L.R. and C.J.S. references. — 94 C.J.S. Waters § 241.
NM Stat § 73-21-40 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-40 - Rates; bondholders' remedy and taxpayer elector.

The board of each district issuing revenue bonds under the provisions of the Water and Sanitation District Act shall establish rates or fees for services rendered by the district utility systems to create an income sufficient to pay all reasonable expenses of operation and create a net revenue that shall be sufficient to pay interest coupons on the revenue bonds, as they mature, and to provide a sinking fund that shall be adequate to discharge the bonds when they mature. It is a board's duty to maintain the rates and fees continuously until the bonds issued by that board have been fully liquidated. In the event of a board's failure or refusal to do as required by this section, all the members of the board are subject to the penalties provided in Section 73-21-42 NMSA 1978, and any bondholder or a number of taxpayer electors of the district amounting to twenty-five persons or five percent of the electors, whichever is less, has the right to apply to the district court of the county where a district is located for a mandatory order requiring the establishment by a board of rates or fees that shall be adequate to meet the requirements of that act. History: 1941 Comp., § 77-3437, enacted by Laws 1951, ch. 195, § 5; 1953 Comp., § 75-18-37; Laws 1985, ch. 166, § 2; 1978 Comp., § 73-21-40; 2009, ch. 241, § 9. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, in the first sentence, deleted "It is made mandatory upon boards of directors"; after "shall establish rates", added "or fees"; and after "services rendered by the", deleted "water or sewer system or joint water and sewer system as will" and added "district utility systems to"; and in the last sentence, after "or rates", added "or fees that". Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Waterworks and Water Companies §§ 3, 4. Discrimination between property within and that outside municipality or other governmental district as to public service or utility rates, 4 A.L.R.2d 595. 39A C.J.S. Health and Environment § 52; 94 C.J.S. Waters §§ 284 to 308.
NM Stat § 73-21-41 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-41 - Restricted use of bond funds.

Whenever under the provisions of the laws of this state a district obtains money or credits from the issuance of its bonds or other evidence of indebtedness for the purpose of the purchase, construction or extension or repair of district utilities in the district, it shall be unlawful to divert, use or expend any of the money or credits in the purchase, construction or extension or repair of any other water, sewer or fee-for-service system or for any purpose other than that for which the money or credits were obtained. History: 1941 Comp., § 77-3438, enacted by Laws 1951, ch. 195, § 6; 1953 Comp., § 75-18-38; 1978 Comp., § 73-21-41; 2009, ch. 241, § 10. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, after "extension or repair of" deleted "any water or sewer system or joint water and sewer system" and added "district utilities"; after "other water, sewer" added "or fee-for-service"; and after "than that for which the" deleted "same was or shall be" and added "money or credits were".
NM Stat § 73-21-42 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-42 - Violations; penalties.

The members of any board and any officer or agent of any district violating the provisions of the Water and Sanitation District Act shall be deemed guilty of a misdemeanor and upon conviction in the district court shall be subject to a fine not to exceed five hundred dollars ($500) or by imprisonment in the county jail not to exceed six months or both in the discretion of the court trying the case. History: 1941 Comp., § 77-3439, enacted by Laws 1951, ch. 195, § 7; 1953 Comp., § 75-18-39; 1978 Comp., § 73-21-42; 2009, ch. 241, § 11. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, made grammatical changes. Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Waterworks and Water Companies § 61. 94 C.J.S. Waters § 243.
NM Stat § 73-21-43 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-43 - Validation; existing districts.

All districts previously created under the provisions of the Water and Sanitation District Act and all proceedings previously taken by the districts, including any elections that may have been held in the districts on the question of the issuance of bonds and that have carried, are validated, ratified and confirmed. Where district bonds have been previously approved by the voters but not yet issued, the bonds may be issued under the provisions of the Water and Sanitation District Act, and where the bonds are to be general obligations of the issuing district, the bonds shall be payable from taxes to be levied on all taxable property in the district as required by the Water and Sanitation District Act. All bonds approved by the voters and to be issued shall, when issued, constitute valid obligations of the districts in accordance with their terms. History: 1953 Comp., § 75-18-40, enacted by Laws 1963, ch. 261, § 8; 1978 Comp., § 73-21-43; 2009, ch. 241, § 12. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, deleted the former second sentence, which provided that property in districts was taxable for payment of bonds. Am. Jur. 2d, A.L.R. and C.J.S. references. — 94 C.J.S. Waters § 243.
NM Stat § 73-21-44 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-44 - Sale of system; escrow of proceeds.

A district may sell or otherwise dispose of all or any part of its water facilities, sewer facilities or both, including both real and personal property, without an election. A sale or other disposition of district facilities shall be authorized by resolution adopted by the affirmative vote of not less than a majority of all members of the board. A district may immediately apply the proceeds derived from the sale or other disposition of its facilities to the retirement of outstanding bonds or place the proceeds in escrow in a commercial bank or trust company, either a state or national banking institution that possesses and is exercising trust powers, that is located within New Mexico and that is a member of the federal deposit insurance corporation, to be applied to the payment of any outstanding bonds upon their presentation for payment. Any escrow is not necessarily limited to proceeds of the sale or other disposal, but may include other money available for its purpose. Any proceeds in escrow, pending use pursuant to the provisions of this section, may be invested or reinvested in bills, certificates of indebtedness, notes or bonds that are direct obligations of, or the principal and interest of which obligations are unconditionally guaranteed by, the United States or any other legal investment. The proceeds and investments in escrow, together with any interest to be derived from the investment, shall be used only to pay charges of the escrow agent, which are expressly made payable from the escrow, and to pay as many bonds as possible as they become due at their respective maturities or due at a designated prior redemption date in connection with which the board shall exercise a prior redemption option. A purchaser of any facilities that may be sold or otherwise disposed of shall in no manner be responsible for the application of the proceeds by the district or any of its officers, agents or employees. Nothing in this section shall be construed as changing or modifying any contractual agreement or covenant concerning any outstanding bonds as may be provided in the proceedings authorizing any outstanding bonds or otherwise appertaining to them. History: 1953 Comp., § 75-18-41, enacted by Laws 1967, ch. 187, § 2; 1978 Comp., § 73-21-44; 2009, ch. 241, § 13. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, in the first sentence, after "other disposition", added "of district facilities"; and in the fourth sentence, after "pending use", added "pursuant to the provisions of this section".
NM Stat § 73-21-45 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-45 - Refunding bonds.

A. Any bonds issued by any district may be refunded in the name of the district issuing the bonds being refunded without an election by the district issuing them or any successor bonds. B. The issuance of refunding bonds shall be to: (1) refund, pay and discharge all or any part of the outstanding bonds, including any interest on the bonds in arrears or about to become due within three years from the date of the refunding bonds; (2) avoid or terminate any default in the payment of interest on and principal of the bonds to reduce interest costs or effect other economies; or (3) modify or eliminate restrictive contractual limitations appertaining to the issuance of refunding bonds or for any combination of the purposes permitted by the provisions of this section. C. Refunding bonds shall be authorized by a resolution adopted by the affirmative vote of not less than a majority of all members of the board. Any bonds that are refunded under the provisions of this section shall be paid at maturity or on any permitted prior redemption date in the amounts, at the times and places and, if called prior to maturity, in accordance with any applicable notice provisions, all as provided in the proceedings authorizing the issuance of the refunded bonds or otherwise appertaining to the bonds being refunded, except for any bonds that are voluntarily surrendered for exchange or payment by the holder. Refunding bonds may be delivered in exchange for the outstanding bonds refunded or may be sold at either public or private sale. The provisions of the Community Service District Act [4-54-1 to 4-54-5 NMSA 1978] shall not apply to any refunding bonds of any district. History: 1953 Comp., § 75-18-42, enacted by Laws 1967, ch. 187, § 3; 1978 Comp., § 73-21-45; 2009, ch. 241, § 14. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, in Subsection A, after "may be refunded", added "in the name of the district issuing the bonds being refunded" and after "or any successor", deleted "thereof, in the name of the district issuing the bonds being refunded, by" and added "bonds"; in Subsection B, changed "issuance of bonds to" to "issuance of refunding bonds shall be to"; in Paragraph (1) of Subsection B, after "refunding bonds", deleted "and for the purpose of avoiding or terminating"; in Paragraph (2) of Subsection B, after "other economies; or", deleted "of modifying or eliminating"; and in Paragraph (3) of Subsection B, changed "issuance of additional bonds or to any system appertaining thereto or" to "issuance of refunding bonds or"; and at the end of the sentence, added "permitted by the provisions of this section".
NM Stat § 73-21-46 (2021)
2021 New Mexico Statutes|Chapter 73 - Special Districts|Article 21 - Water and Sanitation Districts|Section 73-21-46 - Limitations upon issuance.

No bonds shall be refunded under the Water and Sanitation District Act unless the bonds either mature or are callable for prior redemption under their terms within ten years from the date of issuance of the refunding bonds, or unless the holders of them voluntarily surrender them for exchange or payment. Provision shall be made for paying the bonds refunded within that period of time. Interest on bonds may be increased, but it may not be increased to a rate exceeding six percent a year. The principal amount of the refunding bonds may exceed the principal amount of the refunded bonds, but only to the extent that any costs incidental to the refunding bonds or any interest on the bonds refunded in arrears or about to become due within three years from the date of the refunding bonds, or both the incidental costs and interest, are capitalized with the proceeds of refunding bonds. The principal amount of the refunding bonds may also exceed the principal amount of the refunded bonds if the aggregate principal and interest costs of the refunding bonds do not exceed the unaccrued costs of the bonds refunded. The principal amount of the refunding bonds may also be less than or the same as the principal amount of the bonds being refunded so long as provision is duly and sufficiently made for the payment of the refunded bonds. History: 1953 Comp., § 75-18-43, enacted by Laws 1967, ch. 187, § 4; 1978 Comp., § 73-21-46; 2009, ch. 241, § 15. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, made grammatical changes. Am. Jur. 2d, A.L.R. and C.J.S. references. — 94 C.J.S. Waters § 234.