reglab/housing_qa huggingface dataset:
NM Stat § 72-18-47 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-47 - 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 Section 48 or 49 [72-18-48 or 72-18-49 NMSA 1978] of the Flood Control District Act. History: Laws 1981, ch. 377, § 47.
NM Stat § 72-18-48 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-48 - Issuance of bonds and incurrence of debt.

A district is authorized to borrow money in anticipation of taxes or other revenues and to issue bonds to evidence the amount so borrowed. No bonded indebtedness nor any other indebtedness not payable in full within one year, except for interim debentures as provided in Sections 72-18-49 and 72-18-63 through 72-18-65 NMSA 1978, shall be created by the district without first submitting the proposition of issuing the bonds to the qualified electors of the district, which proposition shall be approved by a majority of the qualified electors voting at an election held for that purpose in accordance with Sections 72-18-35 and 72-18-35.1 NMSA 1978. Bonds so authorized may be issued in one series or more and may mature at such time, 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 four percent of the value of the taxable property in the district as shown by the last preceding assessment for county taxes for each county in which the district is located.History: Laws 1981, ch. 377, § 48; 2019, ch. 212, § 248. ANNOTATIONSThe 2019 amendment, effective April 3, 2019, revised certain statutory citations in the section; after "debentures as provided in Sections", deleted "49 and 63 through 65 of the Flood Control District Act" and added "72-18-49 and 72-18-63 through 72-18-65 NMSA 1978", after "in accordance with Sections", deleted "35 through 40 of that act" and added "72-18-35 and 72-18-35.1 NMSA 1978", and after each occurrence of "qualified", deleted "registered".
NM Stat § 72-18-49 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-49 - Issuance of interim debentures.

A district 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 62 through 65 [72-18-62 to 72-18-65 NMSA 1978] of the Flood Control District Act. History: Laws 1981, ch. 377, § 49.
NM Stat § 72-18-50 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-50 - Payment of securities.

All securities issued by any district shall be authorized by resolution. The district may pledge its full faith and credit for the payment of any securities, the interest thereon, any prior redemption premium or premiums and any charges appertaining thereto. Securities may constitute the direct and general obligations of the district. Their payment may be secured by a specific pledge of tax proceeds and other revenues of the district as the board may determine. History: Laws 1981, ch. 377, § 50.
NM Stat § 72-18-51 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-51 - 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 the revenues, subject to any prior pledges, as additional security for payment of the securities, and at its option may deposit the revenues in a fund created to pay the securities or created to additionally secure their payment. History: Laws 1981, ch. 377, § 51.
NM Stat § 72-18-52 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-52 - Pledge of revenues.

Any 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: Laws 1981, ch. 377, § 52.
NM Stat § 72-18-53 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-53 - Payment recital in securities.

Each security issued under the Flood Control District Act shall recite in substance that the security and the interest thereon are payable solely from the revenues or other money pledged to the payment thereof. Securities specifically pledging the full faith and credit of the district for their payment shall so state. History: Laws 1981, ch. 377, § 53.
NM Stat § 72-18-54 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-54 - Limitations upon payment of securities.

The payment of securities shall not be secured by an encumbrance, mortgage or other pledge of property of the district, except for revenues, tax proceeds and other money pledged for the payment of securities. Subject to those exceptions, no property of the district shall be liable to be forfeited or taken in payment of the securities. History: Laws 1981, ch. 377, § 54.
NM Stat § 72-18-55 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-55 - Security details.

Any securities authorized to be issued by the Flood Control District Act shall bear such date or dates, shall be in such denomination or denominations, shall mature at such time or times not exceeding forty years from their date and shall bear interest at a rate or rates which shall be determined by the board. History: Laws 1981, ch. 377, § 55.
NM Stat § 72-18-56 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-56 - Capitalization of costs.

Any resolution authorizing the issuance of securities or other instrument appertaining thereto may capitalize interest on any securities during any period of construction or other acquisition estimated by the board and one year thereafter and may capitalize any other cost of any project, by providing for the payment of the amount capitalized from the proceeds of the securities. History: Laws 1981, ch. 377, § 56.
NM Stat § 72-18-57 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-57 - Execution of securities and interest coupons.

Except for securities issued in book entry or similar form without the delivery of physical securities, securities shall be executed and signed by the chairman, with the seal of the district affixed thereto and attested by the secretary. Except for any bonds which are registrable for payment of interest, interest coupons payable to bearer and appertaining to the bonds shall be issued and shall bear the original or facsimile signature of the chairman. History: Laws 1981, ch. 377, § 57; 1983, ch. 265, § 53. ANNOTATIONSThe 1983 amendment added "Except for securities issued in book entry or similar form without the delivery of physical securities" at the beginning of the first sentence and deleted "in the name and on behalf of the district issuing the securities" following "shall be executed" in the first sentence.
NM Stat § 72-18-58 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-58 - Signatures of predecessors in office.

The securities and any coupons bearing the signatures of the officers in office at the time of the signing thereof shall be the valid and binding obligations of the district, notwithstanding that before the delivery thereof and payment therefor, any or all of the persons whose signatures appear thereon shall have ceased to fill their respective offices. Any officer authorized to sign any security or interest coupon, at the time of its execution and of the execution of a signature certificate, may adopt as and for his own facsimile signature the facsimile signature of his predecessor in office in the event that such facsimile signature appears on the security or coupons, or both, appertaining thereto. History: Laws 1981, ch. 377, § 58.
NM Stat § 72-18-59 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-59 - Repurchase of securities.

Securities may be repurchased by the district out of any funds available for such purpose from the project to which they pertain, and all securities so repurchased shall be canceled. History: Laws 1981, ch. 377, § 59.
NM Stat § 72-18-60 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-60 - Limitations on liabilities.

Neither the directors nor any person executing securities issued under the Flood Control District Act shall be liable personally on the securities by reason of the issuance thereof. Securities issued pursuant to the Flood Control District Act shall not in any way be a debt or liability of any public body and shall not create or constitute an indebtedness, liability or obligation of any body, and nothing in the Flood Control District Act shall be construed to authorize a district to incur any indebtedness on behalf of or in any way to obligate any public body. History: Laws 1981, ch. 377, § 60.
NM Stat § 72-18-61 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-61 - Interest after maturity.

No interest shall accrue on any security 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 payment without default. History: Laws 1981, ch. 377, § 61.
NM Stat § 72-18-62 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-62 - Refunding bonds.

Any bonds issued under the Flood Control District Act may be refunded, without an election, subject to provisions concerning their payment and to any other contractual limitations in the proceedings authorizing their issuance or otherwise appertaining thereto, pursuant to a resolution to be adopted by the board in the manner provided for the issuance of other securities, to refund, pay or discharge all or any part of the district's outstanding bonds, including any interest thereon in arrears or to become due within three years from the date of the refunding bonds, for the purpose of reducing interest costs or effecting other economies, of accelerating, decelerating or otherwise modifying the payment of such bonds or of modifying or eliminating restrictive contractual limitations appertaining to the issuance of additional bonds or [for] any project. History: Laws 1981, ch. 377, § 62. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 72-18-63 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-63 - Issuance of interim debentures and pledge of bonds as collateral security.

Whenever a majority of the qualified electors of a district voting on a proposal to issue bonds has authorized the district to issue bonds for an authorized purpose, the district may borrow money without any other election in anticipation of taxes, the proceeds of the bonds or any other revenues of the district, and may 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 72-18-64 and 72-18-65 NMSA 1978, interim debentures shall be issued as provided for securities in Sections 72-18-49 through 72-18-61 NMSA 1978. Taxes, other revenues of the district, 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. Bonds pledged as collateral security for the payment of any interim debentures shall mature at such time as the board may determine, not exceeding forty years from the date of either any of such bonds or any such interim debentures, whichever date is 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 debentures secured by a pledge of such bonds.History: Laws 1981, ch. 377, § 63; 2019, ch. 212, § 249. ANNTATIONSThe 2019 amendment, effective April 3, 2019, revised certain statutory citations in the section; after "qualified", deleted "registered"; after "and in Sections", deleted "64 and 65 of the Flood Control District Act" and added "72-18-64 and 72-18-65 NMSA 1978", and after "securities in Sections", deleted "49 through 61 of that act" and added "72-18-49 through 72-18-61 NMSA 1978".
NM Stat § 72-18-64 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-64 - Interim debentures not to be extended.

No interim debenture issued pursuant to the provisions of Section 63 [72-18-63 NMSA 1978] of the Flood Control District Act shall be extended or funded except by the issuance or reissuance of a bond or bonds in compliance with Section 65 [72-18-65 NMSA 1978] of that act. History: Laws 1981, ch. 377, § 64.
NM Stat § 72-18-65 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-65 - Funding.

For the purpose of funding any interim debentures, any bond or bonds pledged as collateral security to secure the payment of the 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. The 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 is earlier. Bonds for funding, including but not necessarily limited to any such reissued bonds, and bonds for any other purpose authorized by the Flood Control District Act may be issued separately or issued in combination in one series or more. Except as otherwise provided in Sections 63 and 64 [72-18-63 and 72-18-64 NMSA 1978] of that act and in this section, any such funding bonds shall be issued as is provided for refunding bonds in Section 62 [72-18-62 NMSA 1978] of that act and for securities in Sections 49 through 61 [72-18-49 to 72-18-61 NMSA 1978] of that act. History: Laws 1981, ch. 377, § 65.
NM Stat § 72-18-66 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-66 - Publication or resolution of proceedings; actions.

The board shall 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 of notice thereof, which resolution, other proceedings or notice shall state the fact and date of adoption and the place where the resolution or other proceedings has been filed for public inspection and also the date of the single or first publication of the 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 district, 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 single or first publication of the resolution, other proceedings or notice. Any action not commenced within such period shall be barred. History: Laws 1981, ch. 377, § 66.
NM Stat § 72-18-67 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-67 - Property exempt from general taxes.

The effectuation of the powers authorized by the Flood Control District Act shall be in all respects for the benefit of the people of the state, including but not necessarily limited to those residing in any district exercising any power under that act, for the improvement of their health and living conditions and for the increase of their commerce and prosperity. Thus, no district shall be required to pay any general (ad valorem) taxes upon any property appertaining to any project authorized by the Flood Control District Act and acquired within the state, or the district's interest therein. History: Laws 1981, ch. 377, § 67.
NM Stat § 72-18-68 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-68 - Securities and income exempt.

Securities issued under the Flood Control District Act and the income therefrom are exempt from taxation by the district and any public body, except transfer, inheritance and estate taxes. History: Laws 1981, ch. 377, § 68.
NM Stat § 72-18-69 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-69 - Freedom from judicial process.

Execution or other judicial process shall not issue against any property of the district, nor shall any judgment against the district be a charge or lien upon its property; provided, however, that nothing in this section shall be deemed to 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 district, and any other obligee to foreclose, otherwise to enforce and to pursue any remedies for the enforcement of any pledge or lien given by the district on the proceeds of taxes, service charges or other revenues. History: Laws 1981, ch. 377, § 69.
NM Stat § 72-18-70 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 18 - Flood Control Districts|Section 72-18-70 - Legal investments in securities.

It shall be legal for the state and any of its agencies, departments, instrumentalities, corporations or political subdivisions or any political or public corporation, any bank, trust company, banker, savings bank or institution, any building and loan association, savings and loan association, investment company and any other person carrying on a banking or investment business, any insurance company, insurance association or any other person carrying on an insurance business, and any executor, administrator, curator, trustee or any other fiduciary, to invest money in their custody in any of the securities authorized to be issued pursuant to the provisions of the Flood Control District Act. Such securities shall be authorized security for all public deposits. Nothing contained in this section with regard to legal investments shall be construed as relieving any public body or other person of any duty of exercising reasonable care in selecting securities. History: Laws 1981, ch. 377, § 70. ANNOTATIONSSeverability. — Laws 1981, ch. 377, § 71, provided for the severability of the Flood Control District Act if any part or application thereof is held invalid.
NM Stat § 72-19-1 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 19 - Southern Sandoval County Flood Control|Section 72-19-1 - Short title.

Chapter 72, Article 19 NMSA 1978 may be cited as the "Southern Sandoval County Arroyo Flood Control Act". History: Laws 1990, ch. 14, § 1; 2018, ch. 79, § 126. ANNOTATIONSCross references. — For flood control generally, see 4-50-1 NMSA 1978 et seq. ANNOTATIONSThe 2018 amendment, effective July 1, 2018, changed "This act" to "Chapter 72, Article 19 NMSA 1978".
NM Stat § 72-19-2 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 19 - Southern Sandoval County Flood Control|Section 72-19-2 - Legislative declaration.

It is declared as a matter of legislative determination that: A. the organization of the authority hereby created having the purposes, powers, duties, privileges, immunities, rights, liabilities and disabilities provided in the Southern Sandoval County Arroyo Flood Control Act will serve a public use and will promote the health, safety, prosperity, security and general welfare of the inhabitants thereof and of the state; B. the acquisition, improvement, maintenance and operation of any project authorized in that act is in the public interest and constitutes a part of the established and permanent policy of the state; C. the authority hereby organized shall be a body corporate and politic, a quasi-municipal corporation and a political subdivision of the state; D. the flood control system hereby authorized and directed to be acquired will be of special benefit to the property within the boundaries of the authority organized and created in the Southern Sandoval County Arroyo Flood Control Act; E. the notice provided for in the Southern Sandoval County Arroyo Flood Control Act for each hearing and action to be taken is reasonably calculated to inform any person of interest in any proceedings under that act which may directly and adversely affect his legally protected interests; F. a general law cannot be made applicable to the designated flood control system and the provisions appertaining thereto in the Southern Sandoval County Arroyo Flood Control Act because of a number of atypical and special conditions concerning them; and G. for the accomplishment of these purposes, the provisions of that act shall be broadly construed. History: Laws 1990, ch. 14, § 2.
NM Stat § 72-19-3 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 19 - Southern Sandoval County Flood Control|Section 72-19-3 - Decision of board or governing body final.

The action and decision of the board as to all matters passed upon by it in relation to any action, matter or thing provided in the Southern Sandoval County Arroyo Flood Control Act shall be final and conclusive unless arbitrary, capricious or fraudulent. History: Laws 1990, ch. 14, § 3.
NM Stat § 72-19-5 (2021)
2021 New Mexico Statutes|Chapter 72 - Water Law|Article 19 - Southern Sandoval County Flood Control|Section 72-19-5 - Creation of authority.

There is created a flood control authority to be known and designated as the "southern Sandoval county arroyo flood control authority". History: Laws 1990, ch. 14, § 5.