reglab/housing_qa huggingface dataset:
NM Stat § 72-16-78 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-78 - Limitations upon liabilities.

Neither the directors nor any person executing securities issued hereunder shall be liable personally on the securities by reason of the issuance thereof. Securities issued pursuant to this act [72-16-1 to 72-16-103 NMSA 1978] shall not be in any way a debt or liability of the state or of any municipality or other public body and shall not create or constitute any indebtedness, liability or obligation of the state or of any such municipality or other public body, either legal, moral or otherwise, and nothing in this act contained shall be construed to authorize the authority to incur any indebtedness on behalf of or in any way to obligate the state or any municipality or other public body, except the authority and except as herein otherwise expressly stated or necessarily implied. History: 1953 Comp., § 75-36-78, enacted by Laws 1963, ch. 311, § 78. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — Personal liability of public officers to holders of invalid public money obligations, 87 A.L.R. 273. 94 C.J.S. Waters § 331.
NM Stat § 72-16-79 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-79 - Cancellation of paid securities.

Whenever the treasurer of the authority shall redeem and pay any of the securities issued under the provisions hereof, he shall cancel the same by writing across the face thereof or stamping thereon the word "paid," together with the date of its payment, sign his name thereto, and transmit the same to the secretary of the authority, taking his receipt therefor, which receipt shall be filed in the records of the authority. The secretary shall credit the treasurer on his books for the amount so paid. History: 1953 Comp., § 75-36-79, enacted by Laws 1963, ch. 311, § 79. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 94 C.J.S. Waters § 330.
NM Stat § 72-16-80 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-80 - Interest after maturity.

No interest shall accrue on any security herein authorized after it becomes due and payable, provided funds for the payment of the principal of and the interest on the security and any prior redemption premium due are available to the paying agent for such payment without default. History: 1953 Comp., § 75-36-80, enacted by Laws 1963, ch. 311, § 80.
NM Stat § 72-16-81 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-81 - Refunding bonds.

Any bonds issued hereunder may be refunded, without an election, but subject to provisions concerning their payment and to any other contractual limitations in the proceedings authorizing their issuance or otherwise oppertaining [appertaining] thereto, pursuant to a resolution or resolutions to be adopted by the board in the manner herein provided for the issuance of other securities, to refund, pay or discharge all or any part of the authority's outstanding bonds, heretofore or hereafter issued, including any interest thereon in arrears or about to become due, or for the purpose of reducing interest costs or effecting other economies or of modifying or eliminating restrictive contractual limitations appertaining to the issuance of additional bonds or any project (or any combination thereof). History: 1953 Comp., § 75-36-81, enacted by Laws 1963, ch. 311, § 81. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 261, 262. 64 C.J.S. Municipal Corporations § 1910.
NM Stat § 72-16-82 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-82 - Method of issuance.

Any bonds issued for refunding purposes may either be delivered in exchange for the outstanding bonds authorized to be refunded or may be sold as provided in this act [Chapter 72, Article 16 NMSA 1978] for the sale of other bonds. History: 1953 Comp., § 75-36-82, enacted by Laws 1963, ch. 311, § 82.
NM Stat § 72-16-83 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-83 - Limitations upon issuance.

No bonds may be refunded hereunder unless the holders thereof voluntarily surrender them for exchange or payment, or unless they either mature or are callable for prior redemption under their terms within ten years from the date of issuance of the refunding bonds. Provision shall be made for paying the bonds within that period of time. No maturity of any bonds refunded may be extended over fifteen years nor may any interest thereon be increased to any coupon rate exceeding the maximum net effective interest rate permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]. The principal amount of the refunding bonds may exceed the principal amount of the refunded bonds if the aggregate principal and interest costs of the refunding bonds do not exceed such 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 refunded so long as provision is duly and sufficiently made for their payment. History: 1953 Comp., § 75-36-83, enacted by Laws 1963, ch. 311, § 83; 1985, ch. 190, § 14. ANNOTATIONSThe 1985 amendment, effective June 14, 1985, deleted "(10)" following "ten" near the end of the first sentence, substituted "that period of time" for "said period of time" at the end of the second sentence, inserted "coupon" preceding "rate" near the middle and substituted "the maximum net effective interest rate permitted by the Public Securities Act" for "six percent per annum" at the end of the third sentence.
NM Stat § 72-16-84 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-84 - Use of refunding bond proceeds.

The proceeds of refunding bonds shall either be immediately applied to the retirement of the bonds to be refunded or be placed in escrow to be applied to the payment of the bonds upon their presentation therefor; provided, however, any accrued interest and any premium appertaining to a sale of refunding bonds may be applied to the payment of the interest thereon and the principal thereof or both interest and principal or may be deposited in a reserve therefor as the board may determine. The escrow shall not necessarily be limited to refunding bond proceeds but may include other money made available for such purpose. Any escrowed proceeds pending such use may be invested or reinvested in federal securities. Such escrowed proceeds and investments, together with any interest to be derived from any such investment, shall be in an amount at all times sufficient as to principal, interest, any prior redemption premium due and any charges of the escrow agent payable therefrom to pay the bonds refunded as they become due at their respective maturities or due at designated prior redemption date or dates upon which the board shall exercise a prior redemption option. Upon establishment of such escrow in accordance with this section, the refunded bonds payable therefrom no longer shall constitute outstanding indebtedness of the authority. History: 1953 Comp., § 75-36-84, enacted by Laws 1963, ch. 311, § 84; 1985, ch. 190, § 15. ANNOTATIONSThe 1985 amendment, effective June 14, 1985, substituted "money" for "moneys" and "such purpose" for "said purpose" near the end of the second sentence, and added the last sentence.
NM Stat § 72-16-85 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-85 - Payment of refunding bonds.

Refunding revenue bonds may be made payable from any revenues derived from the operation of the flood control system or any project, notwithstanding the pledge of such revenues for the payment of the outstanding bonds issued by the authority which are to be refunded is thereby modified. Any refunding revenue bonds shall not be made payable from taxes unless the bonds thereby refunded are payable from taxes. History: 1953 Comp., § 75-36-85, enacted by Laws 1963, ch. 311, § 85.
NM Stat § 72-16-86 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-86 - Combination of refunding and other bonds.

Bonds for refunding and bonds for any other purpose or purposes herein authorized may be issued separately or issued in combination in one series or more. History: 1953 Comp., § 75-36-86, enacted by Laws 1963, ch. 311, § 86.
NM Stat § 72-16-87 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-87 - Supplemental provisions.

Except as in this act [Chapter 72, Article 16 NMSA 1978] specifically provided or necessarily implied, the relevant provisions herein pertaining to bonds generally shall be equally applicable in the authorization and issuance of refunding bonds, including their terms and security, the bond resolution, trust indenture, taxes and service charges, and other aspects of the bonds. History: 1953 Comp., § 75-36-87, enacted by Laws 1963, ch. 311, § 87.
NM Stat § 72-16-88 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-88 - Board's determination final.

The determination of the board that the limitations hereunder imposed upon the issuance of refunding bonds have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion. History: 1953 Comp., § 75-36-88, enacted by Laws 1963, ch. 311, § 88.
NM Stat § 72-16-89 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-89 - Issuance of interim debentures and pledge of bonds as collateral security.

Notwithstanding any limitation or other provision herein, whenever a majority of the qualified electors of the authority voting on a proposal to issue bonds has authorized the authority to issue bonds for any purpose herein authorized, the authority is authorized to borrow money without any other election in anticipation of taxes, the proceeds of the bonds or any other revenues of the authority, or any combination thereof, and to issue interim debentures to evidence the amount so borrowed. Interim debentures may mature at such time not exceeding a period of time equal to the estimated time needed to effect the purpose for which the bonds are so authorized to be issued, plus two years, as the board may determine. Except as otherwise provided in this section and in Sections 72-16-90 and 72-16-91 NMSA 1978, interim debentures shall be issued as provided herein for securities in Sections 72-16-47 through 72-16-80 NMSA 1978. Taxes, other revenues of the authority, including without limiting the generality of the foregoing, proceeds of bonds to be thereafter issued or reissued or bonds issued for the purpose of securing the payment of interim debentures may be pledged for the purpose of securing the payment of the interim debentures. Any bonds pledged as collateral security for the payment of any interim debentures shall mature at such time as the board may determine, but in no event exceeding forty years from the date of either any of such bonds or any of such interim debentures, whichever date is the earlier. Any such bonds pledged as collateral security shall not be issued in an aggregate principal amount exceeding the aggregate principal amount of the interim debenture secured by a pledge of such bonds, nor shall they bear interest at any time that with any interest accruing at the same time on the interim debenture so secured exceeds six percent per year. History: 1953 Comp., § 75-36-89, enacted by Laws 1963, ch. 311, § 89; 2018, ch. 79, § 109. ANNOTATIONSThe 2018 amendment, effective July 1, 2018, revised certain statutory references, and made technical changes throughout the section; and after "a majority of the", deleted "taxpaying" and added "qualified", after "provided in this section", deleted "89", after "and in Sections", deleted "90 and 91 hereof" and added "72-16-90 and 72-16-91 NMSA 1978", after "for securities in Sections", deleted "47 to 80, both inclusive" and added "72-16-47 through 72-16-80 NMSA 1978", after each occurrence of "debenture", deleted "or interim debentures", and after "percent per", deleted "annum" and added "year".
NM Stat § 72-16-90 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-90 - Interim debentures not to be extended.

No interim debenture issued pursuant to the provisions of Section 89 [72-16-89 NMSA 1978] hereof shall be extended or funded except by the issuance or reissuance of a bond or bonds in compliance with Section 91 [72-16-91 NMSA 1978] hereof. History: 1953 Comp., § 75-36-90, enacted by Laws 1963, ch. 311, § 90.
NM Stat § 72-16-91 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-91 - Funding.

For the purpose of funding any interim debenture or interim debentures, any bond or bonds pledged as collateral security to secure the payment of such interim debenture or interim debentures may be reissued without an election, and any bonds not previously issued but authorized to be issued at an election for a purpose the same as or encompassing the purpose for which the interim debentures were issued may be issued for such a funding. Any such bonds shall mature at such time or times as the board may determine, but in no event exceeding forty years from the date of either any of the interim debentures so funded or any of the bonds so pledged as collateral security, whichever date be the earlier. Bonds for funding (including but not necessarily limited to any such reissued bonds) and bonds for any other purpose or purposes herein authorized may be issued separately or issued in combination in one series or more. Except as herein otherwise provided in Sections 89 and 90 [72-16-89 and 72-16-90 NMSA 1978] and in this Section 91, any such funding bonds shall be issued as is provided herein for refunding bonds in Sections 81, 82, 84, 85, 87, and 88 [72-16-81, 72-16-82, 72-16-84, 72-16-85, 72-16-87 and 72-16-88 NMSA 1978] hereof, and provided herein for securities in Sections 47 to 80 [72-16-47 to 72-16-80 NMSA 1978], both inclusive. History: 1953 Comp., § 75-36-91, enacted by Laws 1963, ch. 311, § 91.
NM Stat § 72-16-92 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-92 - Publication of resolution or proceedings.

In its discretion the board may provide for the publication once in full of either any resolution or other proceedings adopted by the board ordering the issuance of any securities or, in the alternative, of notice thereof, which resolution, other proceedings or notice so published shall state the fact and date of such adoption and the place where such resolution or other proceedings has been filed for public inspection and also the date of the first publication of such resolution, other proceedings or notice, and also state that any action or proceeding of any kind or nature in any court questioning the validity of the creation and establishment of the authority, or the validity or proper authorization of securities provided for by the resolution or other proceedings, or the validity of any covenants, agreements or contracts provided for by the resolution or other proceedings, shall be commenced within twenty days after the first publication of such resolution, other proceedings or notice. History: 1953 Comp., § 75-36-92, enacted by Laws 1963, ch. 311, § 92. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 477 to 484.
NM Stat § 72-16-93 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-93 - Failure to contest legality constitutes bar.

If no such action or proceedings shall be commenced or instituted within twenty days after the first publication of such resolution, other proceedings or notice, then all residents and taxpayers and owners of property in the authority and all public bodies and all other persons whatsoever shall be forever barred and foreclosed from instituting or commencing any action or proceeding in any court or from pleading any defense to any action or proceedings questioning the validity of the creation and establishment of the authority, the validity or proper authorization of such securities, or the validity of any such covenants, agreements or contracts; and said securities, covenants, agreements and contracts shall be conclusively deemed to be valid and binding obligations in accordance with their terms and tenor. History: 1953 Comp., § 75-36-93, enacted by Laws 1963, ch. 311, § 93. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 500 to 505.
NM Stat § 72-16-94 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-94 - Confirmation of contract proceedings.

In its discretion the board may file a petition at any time in the district court in and for any county in which the authority is located wholly or in part, praying a judicial examination and determination of any power conferred or of any tax or rates or charges levied or of any act, proceeding or contract of the authority, whether or not said contract shall have been executed, including proposed contracts for the acquisition, improvement, equipment, maintenance, operation or disposal of any project for the authority. Such petition shall set forth the facts whereon the validity of such power, assessment, act, proceeding or contract is founded and shall be verified by the chairman of the board. Such action shall be in the nature of a proceeding in rem, and jurisdiction of all parties interested may be had by publication and posting, as hereinafter provided. Notice of the filing of said petition shall be given by the clerk of the court, under the seal thereof, stating in brief outline the contents of the petition and showing where a full copy of any contract therein mentioned may be examined. The notice shall be served by publication in at least five consecutive issues of a weekly newspaper of general circulation published in the county in which the principal office of the authority is located, and by posting the same in the office of the authority at least thirty days prior to the date fixed in said notice for the hearing on said petition. Jurisdiction shall be complete after such publication and posting. Any owner of property in the authority or person interested in the contract or proposed contract or in the premises may appear and move to dismiss or answer said petition at any time prior to the date fixed for said hearing or within such further time as may be allowed by the court; and the petition shall be taken as confessed by all persons who fail so to appear. History: 1953 Comp., § 75-36-94, enacted by Laws 1963, ch. 311, § 94.
NM Stat § 72-16-95 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-95 - Review and judgment of court.

The petition and notice shall be sufficient to give the court jurisdiction, and upon hearing the court shall examine into and determine all matters and things affecting the question submitted, shall make such findings with reference thereto and render such judgment and decree thereon as the case warrants. Costs may be divided or apportioned among any contesting parties in the discretion of the trial court. Review of the judgment of the court may be had as in other similar cases, except that such review must be applied for within thirty days after the time of the rendition of such judgment or within such additional time as may be allowed by the court within thirty days. The Rules of Civil Procedure shall govern in matters of pleading and practice where not otherwise specified herein. The court shall disregard any error, irregularity or omission which does not affect the substantial rights of the parties. History: 1953 Comp., § 75-36-95, enacted by Laws 1963, ch. 311, § 95.
NM Stat § 72-16-96 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-96 - Purpose of tax exemptions.

The effectuation of the powers herein authorized shall and will be in all respects for the benefit of the people of the state, including but not necessarily limited to those residing in the authority exercising any power hereunder, for the improvement of their health and living conditions and for the increase of their commerce and prosperity. History: 1953 Comp., § 75-36-96, enacted by Laws 1963, ch. 311, § 96.
NM Stat § 72-16-97 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-97 - Property exempt from general taxes.

Thus, the authority shall not be required to pay any general (ad valorem) taxes upon any property appertaining to any project herein authorized and acquired within the state, nor the authority's interest therein. History: 1953 Comp., § 75-36-97, enacted by Laws 1963, ch. 311, § 97.
NM Stat § 72-16-98 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-98 - Securities and income therefrom exempt.

Securities issued hereunder and the income therefrom shall forever be and remain free and exempt from taxation by the state, the authority and any other public body, except transfer, inheritance and estate taxes. History: 1953 Comp., § 75-36-98, enacted by Laws 1963, ch. 311, § 98.
NM Stat § 72-16-99 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-99 - Freedom from judicial process.

Execution or other judicial process shall not issue against any property herein authorized of the authority, nor shall any judgment against the authority be a charge or lien upon its property. History: 1953 Comp., § 75-36-99, enacted by Laws 1963, ch. 311, § 99.
NM Stat § 72-16-100 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-100 - Resort to judicial process.

Section 99 [72-16-99 NMSA 1978] hereof does not apply to or limit the right of the holder of any security, his trustee, or any assignee of all or part of his interest, the federal government when it is a party to any contract with the authority, and any other obligee hereunder to foreclose, otherwise to enforce, and to pursue any remedies for the enforcement of any pledge or lien given by the authority on the proceeds of taxes, service charges or other revenues. History: 1953 Comp., § 75-36-100, enacted by Laws 1963, ch. 311, § 100.