reglab/housing_qa huggingface dataset:
NM Stat § 72-16-23 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-23 - Levy and collection of taxes.

To levy and collect taxes, the board shall determine in each year the amount of money necessary to be raised by taxation, taking into consideration other sources of revenue of the authority, and shall fix a rate of levy, without limitation as to rate or amount, except for the limitation in Subsection I of Section 72-16-22 NMSA 1978 and for any constitutional limitation, which, when levied upon the net taxable value, as that term is defined in the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978], of all property subject to property taxation within the authority, and together with other revenues, will raise the amount required by the authority annually to supply funds for paying expenses of organization and the costs of acquiring, improving, equipping, operating and maintaining any project or facility of the authority, and promptly to pay in full, when due, all interest on and principal of bonds and other securities of the authority, and in the event of accruing defaults or deficiencies, an additional levy may be made as provided in Section 72-16-24 NMSA 1978. History: 1953 Comp., § 75-36-23, enacted by Laws 1963, ch. 311, § 23; 1985, ch. 190, § 4; 1986, ch. 32, § 31. ANNOTATIONSCross references. — For constitutional property tax limits and exceptions, see N.M. Const., art. VIII, § 2. The 1986 amendment substituted "the net taxable value, as that term is defined in the Property Tax Code, of all property subject to property taxation" for "every dollar of assessed valuation of taxable property". The 1985 amendment, effective June 14, 1985, substituted "Subsection I of Section 72-16-22 NMSA 1978" for "Subsection J of Section 22 hereof" near the beginning and "Section 72-16-24 NMSA 1978" for "Section 24 hereof" at the end of the section. Am. Jur. 2d, A.L.R. and C.J.S. references. — 52A C.J.S. Levees and Flood Control §§ 28 to 33.
NM Stat § 72-16-24 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-24 - Levies to cover deficiencies.

The board, in certifying annual levies, shall take into account the maturing indebtedness for the ensuing year as provided in its contracts, maturing securities and interest on securities, and deficiencies and defaults of prior years and shall make ample provision for the payment thereof. In case the money produced from such levies, together with other revenues of the authority, is not sufficient punctually to pay the annual installments of its contracts or securities, and interest thereon, and to pay defaults and deficiencies, the board shall make such additional levies of taxes as may be necessary for such purposes, and notwithstanding any limitations, except the limitation in Subsection I of Section 72-16-22 NMSA 1978, and any constitutional limitation, such taxes shall be made and continue to be levied until the indebtedness of the authority is fully paid. History: 1953 Comp., § 75-36-24, enacted by Laws 1963, ch. 311, § 24; 1986, ch. 32, § 32. ANNOTATIONSThe 1986 amendment substituted "Subsection I of Section 72-16-22 NMSA 1978" for "Subsection J of Section 22 hereof" and made minor stylistic changes.
NM Stat § 72-16-25 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-25 - Sinking fund.

Whenever any indebtedness has been incurred by the authority, it shall be lawful for the board to levy taxes and to collect revenue for the purpose of creating a reserve fund in such amount as the board may determine, which may be used to meet the obligations of the authority, for maintenance and operating charges and depreciation, and to provide improvements for the authority. History: 1953 Comp., § 75-36-25, enacted by Laws 1963, ch. 311, § 25.
NM Stat § 72-16-26 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-26 - Manner of levying and collecting taxes.

It is the duty of the body having authority to levy taxes within each county to levy the taxes provided in Subsection I of Section 72-16-22 NMSA 1978, and elsewhere in the Arroyo Flood Control Act. It is the duty of all officials charged with collecting taxes to collect such taxes at the time and in the form and manner and with like interest and penalties as other general (ad valorem) taxes are collected, and when collected, to pay the same to the authority. The payment of such collection shall be made monthly to the treasurer of the authority and paid into the depository thereof to the credit of the authority. All general (ad valorem) taxes levied under that act, together with interest thereon and penalties for default in payment thereof, and all costs of collecting the same constitute until paid a perpetual lien on and against the property taxed, and such lien is on a parity with the tax lien of other general (ad valorem) taxes. History: 1953 Comp., § 75-36-26, enacted by Laws 1963, ch. 311, § 26; 1985, ch. 190, § 5. ANNOTATIONSThe 1985 amendment, effective June 14, 1985, substituted "Subsection I of Section 72-16-22 NMSA 1978, and elsewhere in the Arroyo Flood Control Act" for "Subsection J, Section 22, hereof, and elsewhere in this act" near the end of the first sentence and "that act" for "this act" near the beginning of the fourth sentence. Am. Jur. 2d, A.L.R. and C.J.S. references. — 52A C.J.S. Levees and Flood Control § 33.
NM Stat § 72-16-27 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-27 - Delinquent taxes.

If the general (ad valorem) taxes levied are not paid, then delinquent real property shall be sold at the regular tax sale for the payment of said taxes, interest and penalties, in the manner provided by the statutes of the state for selling real property for the nonpayment of general taxes. If there are no bids at said tax sale for the property so offered, said property shall be struck off to the county, and the county shall account to the authority in the same manner as provided by law for accounting for school, town and city taxes. Delinquent personal property shall be distrained and sold as provided by law. History: 1953 Comp., § 75-36-27, enacted by Laws 1963, ch. 311, § 27. ANNOTATIONSCross references. — For sale of real property for payment of property taxes, see 7-38-65 NMSA 1978 et seq. Am. Jur. 2d, A.L.R. and C.J.S. references. — 52A C.J.S. Levees and Flood Control § 38.
NM Stat § 72-16-28 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-28 - Elections.

Each biennial election of directors, each election proposition to issue bonds and all other elections shall be conducted in accordance with the Local Election Act [Chapter 1, Article 22 NMSA 1978]. History: 1953 Comp., § 75-36-28, enacted by Laws 1963, ch. 311, § 28; 1985, ch. 190, § 6; 2018, ch. 79, § 108. ANNOTATIONSThe 2018 amendment, effective July 1, 2018, provided that each biennial election of directors of the Arroyo Flood Control Authority, each election proposition to issue bonds and all other elections shall be conducted in accordance with the Local Election Act, and made technical and conforming changes; and after "shall be conducted", deleted "at the time of the general election under the direction of the Bernalillo county clerk and", and after "in accordance with the", deleted "election laws of New Mexico" and added "Local Election Act". The 1985 amendment, effective June 14, 1985, deleted the former introductory paragraph and former Subsections A and B, relating to the election of the qualified electors or taxpaying electors of the authority, and added the present section.
NM Stat § 72-16-29 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-29 - Repealed.

History: 1953 Comp., § 75-36-29, enacted by Laws 1963, ch. 311, § 29; 1985, ch. 190, § 7; repealed by Laws 2018, ch. 79, § 175.ANNOTATIONSRepeals. — Laws 2018, ch. 79, § 175 repealed 72-16-29 NMSA 1978, as enacted by Laws 1963, ch. 311, § 29, relating to election resolution, effective July 1, 2018. For provisions of former section, see the 2017 NMSA 1978 on NMOneSource.com.
NM Stat § 72-16-30 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-30 - Repealed.

History: 1953 Comp., § 75-36-30, enacted by Laws 1963, ch. 311, § 30; 1985, ch. 190, § 8; repealed by Laws 2018, ch. 79, § 175.ANNOTATIONSRepeals. — Laws 2018, ch. 79, § 175 repealed 72-16-30 NMSA 1978, as enacted by Laws 1963, ch. 311, § 30, relating to conduct of election, effective July 1, 2018. For provisions of former section, see the 2017 NMSA 1978 on NMOneSource.com.
NM Stat § 72-16-31 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-31 - Repealed.

History: 1953 Comp., § 75-36-31, enacted by Laws 1963, ch. 311, § 31; repealed by Laws 2018, ch. 79, § 175.ANNOTATIONSRepeals. — Laws 2018, ch. 79, § 175 repealed 72-16-31 NMSA 1978, as enacted by Laws 1963, ch. 311, § 31, relating to notice of election, effective July 1, 2018. For provisions of former section, see the 2017 NMSA 1978 on NMOneSource.com.
NM Stat § 72-16-32 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-32 - Repealed.

History: 1953 Comp., § 75-36-32, enacted by Laws 1963, ch. 311, § 32; 1985, ch. 190, § 9; repealed by Laws 2018, ch. 79, § 175.ANNOTATIONSRepeals. — Laws 2018, ch. 79, § 175 repealed 72-16-32 NMSA 1978, as enacted by Laws 1963, ch. 311, § 32, relating to polling places, effective July 1, 2018. For provisions of former section, see the 2017 NMSA 1978 on NMOneSource.com.
NM Stat § 72-16-33 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-33 - Repealed.

History: 1953 Comp., § 75-36-33, enacted by Laws 1963, ch. 311, § 33; 1985, ch. 190, § 10; repealed by Laws 2018, ch. 79, § 175.ANNOTATIONSRepeals. — Laws 2018, ch. 79, § 175 repealed 72-16-33 NMSA 1978, as enacted by Laws 1963, ch. 311, § 33, relating to election supplies, effective July 1, 2018. For provisions of former section, see the 2017 NMSA 1978 on NMOneSource.com.
NM Stat § 72-16-34 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-34 - Repealed.

History: 1953 Comp., § 75-36-34, enacted by Laws 1963, ch. 311, § 34; 1985, ch. 190, § 11; repealed by Laws 2018, ch. 79, § 175.ANNOTATIONSRepeals. — Laws 2018, ch. 79, § 175 repealed 72-16-34 NMSA 1978, as enacted by Laws 1963, ch. 311, § 34, relating to election returns, effective July 1, 2018. For provisions of former section, see the 2017 NMSA 1978 on NMOneSource.com.
NM Stat § 72-16-35 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-35 - Dissolution of authority.

If a remonstrance is received pursuant to Section 72-16-7 NMSA 1978 denying the board the power to acquire a flood control system or if the first proposal for the issuance of bonds fails to receive a favorable vote by a majority of the qualified electors voting thereon, the board shall proceed to dissolve the authority. History: 1953 Comp., § 75-36-35, enacted by Laws 1963, ch. 311, § 35; 1985, ch. 190, § 12. ANNOTATIONSThe 1985 amendment, effective June 14, 1985, substituted "remonstrance is received" for "remonstrance be received" and "Section 72-16-7 NMSA 1978" for "Section 7 hereof" near the beginning and "or" for "of" following "flood control system" and "fails to receive" for "shall have failed to receive" near the middle of the section.
NM Stat § 72-16-36 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-36 - Filing of dissolution resolution.

Within thirty days after the effective date of any resolution dissolving the authority, the secretary shall file a copy of the resolution in the office of the county clerk and shall cause to be filed an additional copy of the resolution in the office of the secretary of state, which filings shall be without fee and be otherwise in the same manner as articles of incorporation are required to be filed under the laws of the state. History: 1953 Comp., § 75-36-36, enacted by Laws 1963, ch. 311, § 36.
NM Stat § 72-16-37 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-37 - Disposition of property, funds and taxes of authority.

All property and all funds remaining in the treasury of the authority so dissolved shall be surrendered and transferred to the county in which the authority is located and shall become a part of the general fund of the county. History: 1953 Comp., § 75-36-37, enacted by Laws 1963, ch. 311, § 37.
NM Stat § 72-16-39 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-39 - Effect of extraterritorial functions.

All of the powers, privileges, immunities and rights, exemptions from laws, ordinances and rules, all pension, relief, disability, workmen's compensation, and other benefits which apply to the activity of officers, agents or employees of the authority or any such public body when performing their respective functions within the territorial limits of the respective public agencies apply to them to the same degree and extent while engaged in the performance of any of their functions and duties extraterritorially hereunder. History: 1953 Comp., § 75-36-39, enacted by Laws 1963, ch. 311, § 39.
NM Stat § 72-16-40 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-40 - Forms of borrowing.

Upon the conditions and under the circumstances set forth in this act [Chapter 72, Article 16 NMSA 1978], the authority, to carry out the purposes hereof, from time to time may borrow money to defray the cost of any project, or any part thereof, as the board may determine, and issue the following securities to evidence such borrowing: A. notes; B. warrants; C. bonds; D. temporary bonds; and E. interim debentures. History: 1953 Comp., § 75-36-40, enacted by Laws 1963, ch. 311, § 40. ANNOTATIONSIndebtedness proposed by flood control authority is not one contracted by either a county, city, town or village or school district, but is one imposed by a special quasi-municipal corporation under legislative authority. Albuquerque Metro. Arroyo Flood Control Auth. v. Swinburne, 1964-NMSC-206, 74 N.M. 487, 394 P.2d 998. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 9 to 23. 94 C.J.S. Waters §§ 322 to 331.
NM Stat § 72-16-41 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-41 - Issuance of notes.

The authority is authorized to borrow money without an election in anticipation of taxes or other revenues, or both, and to issue notes to evidence the amount so borrowed. History: 1953 Comp., § 75-36-41, enacted by Laws 1963, ch. 311, § 41. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 24. 64 C.J.S. Municipal Corporations § 1905.
NM Stat § 72-16-42 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-42 - Issuance of warrants.

The authority is authorized to defray the cost of any services, or supplies, equipment or other materials furnished to or for the benefit of the authority by the issuance of warrants to evidence the amount due therefor, without an election, in anticipation of taxes or other revenues, or both. History: 1953 Comp., § 75-36-42, enacted by Laws 1963, ch. 311, § 42. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 24. 64 C.J.S. Municipal Corporations § 1905.
NM Stat § 72-16-43 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-43 - Maturities of notes and warrants.

Notes and warrants may mature at such time or times not exceeding one year from the respective dates of their issuance as the board may determine. They shall not be extended or funded except by the issuance of bonds or interim debentures in compliance with Sections 44 or 46 [72-16-44 or 72-16-46 NMSA 1978] hereof. History: 1953 Comp., § 75-36-43, enacted by Laws 1963, ch. 311, § 43.
NM Stat § 72-16-44 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-44 - Issuance of bonds and incurrence of debt.

The authority is authorized to borrow money in anticipation of taxes or other revenues, or both, and to issue bonds to evidence the amount so borrowed. No bonded indebtedness or any other indebtedness not payable in full within one year, except for interim debentures as provided in Sections 72-16-46 and 72-16-89 through 72-16-91 NMSA 1978, shall be created by the authority without first submitting a proposition of issuing the bonds to the qualified electors of the authority and being approved by a majority of electors voting at an election held for that purpose in accordance with Sections 72-16-28 through 72-16-34 NMSA 1978 and all laws amendatory thereof and supplemental thereto. Bonds so authorized may be issued in one series or more and may mature at such times not exceeding forty years from their issuance as the board may determine. The total of all outstanding indebtedness at any one time shall not exceed eighty million dollars ($80,000,000) without prior approval of the state legislature. History: 1953 Comp., § 75-36-44, enacted by Laws 1963, ch. 311, § 44; 1973, ch. 171, § 1; 1985, ch. 190, § 13; 1997, ch. 87, § 1; 2007, ch. 352, § 1. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, increased the maximum total indebtedness from $40,000,000 to $80,000,000. The 1997 amendment, effective June 20, 1997, substituted "forty million dollars ($40,000,000)" for "twenty million dollars ($20,000,000)" in the last sentence. The 1985 amendment, effective June 14, 1985, substituted "or any other indebtedness" for "nor any other indebtedness" and "Sections 72-16-46 and 72-16-89 through 72-16-91 NMSA 1978" for "Sections 46, 89, 90 and 91 hereof" near the beginning, "qualified electors" for "taxpaying electors" near the middle, and "Sections 72-16-28 through 72-16-34 NMSA 1978" for "Sections 28 to 34, both inclusive of this act" near the end of the second sentence. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 24.
NM Stat § 72-16-45 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-45 - Issuance of temporary bonds.

The authority is authorized to issue temporary bonds, pending preparation of definitive bond or bonds and exchangeable for the definitive bond or bonds when prepared, as the board may determine. Each temporary bond shall set forth substantially the same conditions, terms and provisions as the definitive bond for which it is exchanged. Each holder of any such temporary security shall have all the rights and remedies which he would have as a holder of the definitive bond or bonds. History: 1953 Comp., § 75-36-45, enacted by Laws 1963, ch. 311, § 45.
NM Stat § 72-16-46 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-46 - Issuance of interim debentures.

The authority is authorized to borrow money and to issue interim debentures evidencing "construction" or short-term loans for the acquisition or improvement and equipment of the flood control system or any project in supplementation of long term financing and the issuance of bonds, as provided in Sections 89, 90, and 91 [72-16-89, 72-16-90, 72-16-91 NMSA 1978] hereof. History: 1953 Comp., § 75-36-46, enacted by Laws 1963, ch. 311, § 46.
NM Stat § 72-16-47 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-47 - Payment of securities.

All securities issued by the authority shall be authorized by resolution. The authority may pledge its full faith and credit for the payment of any securities herein authorized, the interest thereon, any prior redemption premium or premiums, and any charges appertaining thereto. Securities may constitute the direct and general obligations of the authority. Their payment may be secured by a specific pledge of tax proceeds and other revenues of the authority (in this act [Chapter 72, Article 16 NMSA 1978] sometimes referred to as "revenues" of the authority) as the board may determine. History: 1953 Comp., § 75-36-47, enacted by Laws 1963, ch. 311, § 47. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 24.
NM Stat § 72-16-48 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-48 - Additionally secured securities.

The board, in connection with such additionally secured securities, in the resolution authorizing their issuance or other instrument appertaining thereto, may pledge all or a portion of such revenues (subject to any prior pledges) as additional security for such payment of said securities, and at its option may deposit such revenues in a fund created to pay the securities or created to secure additionally their payment. History: 1953 Comp., § 75-36-48, enacted by Laws 1963, ch. 311, § 48.
NM Stat § 72-16-49 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-49 - Pledge of revenues.

Any such revenues pledged directly or as additional security for the payment of securities of any one issue or series which revenues are not exclusively pledged therefor, may subsequently be pledged directly or as additional security for the payment of the securities of one or more issue or series subsequently authorized. History: 1953 Comp., § 75-36-49, enacted by Laws 1963, ch. 311, § 49.
NM Stat § 72-16-50 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 16 - Albuquerque Metropolitan Arroyo Flood Control|Section 72-16-50 - Ranking among different issues.

All securities of the same issue or series shall, subject to the prior and superior rights of outstanding securities, claims and other obligations, have a prior, paramount and superior lien on the revenues pledged for the payment of the securities over and ahead of any lien thereagainst subsequently incurred of any other securities; provided, however, the resolution authorizing, or other instrument appertaining to, the issuance of any securities may provide for the subsequent authorization of bonds or other securities the lien for the payment of which on such revenues is on a parity with the lien thereon of the subject securities upon such conditions and subject to such limitations as said resolution or other instrument may provide. History: 1953 Comp., § 75-36-50, enacted by Laws 1963, ch. 311, § 50.