reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-13 - Organizational meetings.

Except for the first board, each board shall meet on the first business day next following the first day of the month that the term of office begins for members elected in the immediately preceding election, at the office of the board within the authority. Each member of the board, before entering upon the member's official duties, shall take and subscribe on oath that the member will support the constitution of the United States and the constitution and laws of New Mexico and that the member will faithfully and impartially discharge the duties of the office to the best of the member's ability, which oath shall be filed in the office of the secretary of state. Each director shall, before entering upon the director's official duties, give a bond to the authority in the sum of ten thousand dollars ($10,000) with good and sufficient surety, conditioned for the faithful performance of all of the duties of the director's office, without fraud, deceit or oppression, and the accounting for all money and property coming into the director's hands and the prompt and faithful payment of all money and the delivering of all property coming into the director's custody or control belonging to the authority to the director's successors in office. Premiums on all bonds provided for in this section shall be paid by the authority, and all such bonds shall be kept on file in the office of the secretary of state.
History:
Laws 2007, ch. 99, § 13; 2018, ch. 79, § 137.
ANNOTATIONS
The 2018 amendment,
effective July 1, 2018, revised the schedule for the first meeting of the eastern Sandoval county arroyo flood control board following the election of new members to the board; after "the first day of", deleted "January in each odd-numbered year", and added "the month that the term of office begins for members elected in the immediately preceding election".
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-14 - Board's administrative powers.

The board may exercise the following powers:
A. fix the time and place at which its regular meetings will be held within the authority and provide for the calling and holding of special meetings;
B. adopt and amend or otherwise modify bylaws and rules for procedure;
C. select one director as chair of the board and president of the authority, and another director as chair pro tem of the board and president pro tem of the authority, and choose a secretary and a treasurer of the board and authority, each of which two positions may be filled by a person who is, or is not, a director, and both of which positions may, or may not, be filled by one person;
D. prescribe by resolution a system of business administration and create all necessary offices and establish and re-establish the powers, duties and compensation of all officers and employees;
E. require and fix the amount of all official bonds necessary or desirable and convenient in the opinion of the board for the protection of the funds and property of the authority, subject to the provisions of Section 13 [72-20-13 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act;
F. prescribe a method of auditing and allowing or rejecting claims and demands;
G. provide a method for the letting of contracts on a fair and competitive basis for the construction of works, any facility or any project or any interest therein or the performance or furnishing of labor, materials or supplies as required in the Eastern Sandoval County Arroyo Flood Control Act;
H. designate an official newspaper published in the authority in the English language and direct additional publication in any newspaper where it deems that the public necessity may so require; and
I. make and pass resolutions and orders on behalf of the authority not repugnant to the provisions of the Eastern Sandoval County Arroyo Flood Control Act, necessary or proper for the government and management of the affairs of the authority, for the execution of the powers vested in the authority and for carrying into effect the provisions of that act.
History:
Laws 2007, ch. 99, § 14.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-15 - Records of board.

On all resolutions and orders, the roll shall be called, and the ayes and nays shall be recorded. All resolutions and orders, as soon as may be after their passage, shall be recorded in a book kept for that purpose and be authenticated by the signature of the presiding officer of the board and the secretary. Every legislative act of the board of a general or permanent nature shall be by resolution. The book of resolutions and orders is a public record. A record shall also be made of all other proceedings of the board, minutes of all meetings, certificates, contracts, bonds given by officers, employees and any other agents of the authority, and all corporate acts, which record is also a public record. The treasurer shall keep strict and accurate accounts of all money received by and disbursed for and on behalf of the authority in a permanent record, which is also a public record. Any permanent record of the authority shall be open for inspection by any qualified elector thereof, by any other interested person or by any representative of the federal government or any public body. All records are subject to audit as provided by law for political subdivisions.
History:
Laws 2007, ch. 99, § 15.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-16 - Meetings of the board.

All meetings of the board shall be held within the authority and shall be open to the public. No business of the board shall be transacted except at a regular or special meeting at which a quorum consisting of at least three-fifths of the total membership of the board is present. Any action of the board requires the affirmative vote of a majority of the directors present and voting. A smaller number of directors than a quorum may adjourn from time to time and may compel the attendance of absent members in the manner and under such penalties as the board may provide.
History:
Laws 2007, ch. 99, § 16.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-17 - Compensation of directors.

Directors shall receive no compensation for their services as a director, officer, engineer, attorney, employee or other agent of the authority. Directors may be reimbursed for expenses incurred by them on authority business with approval of the board.
History:
Laws 2007, ch. 99, § 17.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-18 - Interest in contracts and property disqualifications.

No director or officer, employee or agent of the authority may be interested in any contract or transaction with the authority except in the director's or officer's official representative capacity or as provided, except for any contract of employment with the authority. Neither the holding of any office nor employment in the government of any public body or the federal government nor the owning of any property within the state, within or without the authority, may be deemed a disqualification for membership on the board or employment by the authority, or a disqualification for compensation for services as an officer, employee or agent of the authority, except as provided in Section 17 [72-20-17 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act.
History:
Laws 2007, ch. 99, § 18.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-19 - Flood control system; hearings.

The authority is authorized, empowered and directed, subject to the provisions of Section 7 [72-20-7 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act, to acquire, equip, maintain and operate a flood control system for the benefit of the authority and the inhabitants thereof, after the board has made such preliminary studies and otherwise taken such action as it determines to be necessary or desirable as preliminaries. The flood control system consists of such facilities as the board may determine. When a comprehensive program for the acquisition of the flood control system satisfactory to the board is available, it shall be tentatively adopted. The program need only describe the proposed flood control system in general terms and not in detail. A public hearing on the proposed program shall be scheduled, and notice of the hearing shall be given by publication. After the hearing and any adjournments of that hearing that may be ordered, the board may either require changes to be made in the program as the board may consider desirable or the board may approve the program as prepared. If any substantial changes to the program are ordered at any time, a further hearing shall be held pursuant to notice that shall be given by publication.
History:
Laws 2007, ch. 99, § 19.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-20 - Implementing powers.

The board may:
A. acquire, improve, equip, maintain and operate any project or facility for the control of flood and storm waters of the authority and the flood and storm waters of streams that have their sources outside of the authority but which streams and the flood waters thereof flow into the authority;
B. protect from such floods or storm waters the water courses, watersheds, public highways, life and property in the authority; and
C. exercise the right of eminent domain, either within or without the authority, in the manner provided by law for the condemnation of private property for public use.
History:
Laws 2007, ch. 99, § 20.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-21 - Protection of property rights.

It is declared that the use of the property, lands, rights of way, easements or materials that may be condemned, taken or appropriated under the provisions of the Eastern Sandoval County Arroyo Flood Control Act is a public use subject to the regulation and control of the state in the manner prescribed by law; but nothing in that act shall be deemed to authorize the authority or public body or person to divert the waters of any river, creek, stream, arroyo, irrigation system, canal or ditch from its channel to the detriment of any person, any public body or the federal government having any interest in such river, creek, stream, arroyo, irrigation system, canal or ditch, or the waters thereof or therein, unless compensation is ascertained and paid therefor under the laws authorizing the taking of private property for public use.
History:
Laws 2007, ch. 99, § 21.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-23 - 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 22 [72-20-22 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act and for any constitutional limitation, that, 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 24 [72-20-24 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act.
History:
Laws 2007, ch. 99, § 23.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-23.1 - Temporary provision; limitation on property taxes on excluded land; exceptions for certain authorized debt obligations; approval of department of finance and administration.

A. On or after the effective date of this act, no property taxes shall be levied by the eastern Sandoval county arroyo flood control authority on land excluded from the authority pursuant to Subsection C of Section 72-20-6 NMSA 1978; provided that:
(1) subject to the provisions of Subsection B of this section, the authority may levy taxes on the excluded land that are necessary to make debt service and other payments, including any amounts needed for required reserves, on bonds of the authority:
(a) authorized in the 2008 general election, including bonds authorized but not yet issued; or
(b) issued for the purpose of refunding the bonds specified in Subparagraph (a) of this paragraph;
(2) nothing in this act affects property taxes levied by the authority on the excluded land for the 2011 tax year; provided that the property tax levy for operational purposes on the excluded land for that tax year shall not exceed fifty cents ($.50) for each one thousand dollars ($1,000) of net taxable value; and
(3) the provisions of the Eastern Sandoval County Arroyo Flood Control Act and other state statutes relating to the levying, collection and enforcement of property taxes shall continue to apply to the excluded land to the extent necessary to ensure payment of the property taxes authorized in this subsection.
B. For the 2012 and subsequent tax years, the authority shall not certify a property tax on land excluded pursuant to Subsection C of Section 72-20-6 NMSA 1978 unless the local government division of the department of finance and administration determines that the proposed tax is in compliance with the provisions of Subsection A of this section.
History:
Laws 2011, ch. 100, § 7.
ANNOTATIONS
Compiler's notes.
— The "effective date of this act" referred to in Subsection A, means April 6, 2011, the effective date of Laws 2011, ch. 100, § 7.
Emergency clauses.
— Laws 2011, ch. 100, § 8 contained an emergency clause and was approved April 6, 2011.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-24 - 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 22 [72-20-22 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act, and any constitutional limitation, such taxes shall be made and continue to be levied until the indebtedness of the authority is fully paid.
History:
Laws 2007, ch. 99, § 24.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-25 - Sinking fund.

Whenever any indebtedness has been incurred by the authority, it is 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:
Laws 2007, ch. 99, § 25.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-26 - 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 22 [72-20-22 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act, and elsewhere in that 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 the Eastern Sandoval County Arroyo Flood Control 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:
Laws 2007, ch. 99, § 26.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-27 - 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 such 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 the tax sale for the property so offered, the 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:
Laws 2007, ch. 99, § 27.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-28 - Elections.

Each biennial election of directors and any other election of the authority, including an election to seek approval for the issuance of bonds, shall be conducted pursuant to the Local Election Act [Chapter 1, Article 22 NMSA 1978].
History:
Laws 2007, ch. 99, § 28; 2018, ch. 79, § 138.
ANNOTATIONS
The 2018 amendment,
effective July 1, 2018, provided that any election of the eastern Sandoval county arroyo flood control authority be conducted pursuant to the Local Election Act; after "election of directors", deleted "shall be conducted at the time of the general election under the direction of the Sandoval county clerk and in accordance with the election laws of New Mexico" and added "and", and after "shall be conducted", deleted "at any time approved by the board in accordance with the election laws of New Mexico. Elections for the issuance of bonds may be by mail-in ballot pursuant to the procedures set forth in the Mail Ballot" and added "pursuant to the Local".
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-29 - Repealed.

History:
Laws 2007, ch. 99, § 29; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-20-29 NMSA 1978, as enacted by Laws 2007, ch. 99, § 29, relating to election resolution, effective July 1, 2018. For provisions of former section,
see
the 2017 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-30 - Repealed.

History:
Laws 2007, ch. 99, § 30; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-20-30 NMSA 1978, as enacted by Laws 2007, ch. 99, § 30, relating to conduct of election, effective July 1, 2018. For provisions of former section,
see
the 2017 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-31 - Repealed.

History:
Laws 2007, ch. 99, § 31; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-20-31 NMSA 1978, as enacted by Laws 2007, ch. 99, § 31, relating to notice of election, effective July 1, 2018. For provisions of former section,
see
the 2017 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-32 - Repealed.

History:
Laws 2007, ch. 99, § 32; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-20-32 NMSA 1978, as enacted by Laws 2007, ch. 99, § 32, relating to polling places, effective July 1, 2018. For provisions of former section,
see
the 2017 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-33 - Repealed.

History:
Laws 2007, ch. 99, § 33; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-20-33 NMSA 1978, as enacted by Laws 2007, ch. 99, § 33, relating to election supplies, effective July 1, 2018. For provisions of former section,
see
the 2017 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-34 - Repealed.

History:
Laws 2007, ch. 99, § 34; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-20-34 NMSA 1978, as enacted by Laws 2007, ch. 99, § 34, relating to election returns, effective July 1, 2018. For provisions of former section,
see
the 2017 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-35 - Dissolution of authority.

If a petition is received pursuant to Section 7 [72-20-7 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act 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 on the proposal, the board shall proceed to dissolve the authority.
History:
Laws 2007, ch. 99, § 35.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-36 - 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 file 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:
Laws 2007, ch. 99, § 36.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-37 - 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:
Laws 2007, ch. 99, § 37.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-39 - Effects of extraterritorial functions.

All of the powers, privileges, immunities and rights, exemptions from laws, ordinances and rules, all pension, relief, disability, workers' compensation and other benefits that 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 under the Eastern Sandoval County Arroyo Flood Control Act.
History:
Laws 2007, ch. 99, § 39.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-40 - Forms of borrowing.

Upon the conditions and under the circumstances set forth in the Eastern Sandoval County Arroyo Flood Control Act, the authority, to carry out the purposes of that act, 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:
Laws 2007, ch. 99, § 40.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-41 - 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:
Laws 2007, ch. 99, § 41.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-42 - Issuance of warrants.

The authority is authorized to defray the cost of any services, 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:
Laws 2007, ch. 99, § 42
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-43 - Maturities of notes and warrants.

Notes and warrants may mature at such time 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 44 [72-20-44 NMSA 1978] or 46 [72-20-46 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act.
History:
Laws 2007, ch. 99, § 43.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-44 - 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 46 and 89 through 91 [72-20-46, 72-20-89 to 72-20-91 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act, shall be created by the authority without first submitting a proposition of issuing such bonds to the qualified electors of the authority and being approved by a majority of such electors voting thereon at an election held for that purpose in accordance with Sections 28 through 34 [72-20-28 to 72-20-34 NMSA 1978] of that act and all laws amendatory thereof and supplemental thereto. Bonds so authorized may be issued in one series or more and may mature at such time or 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 fifty million dollars ($50,000,000) without prior approval of the state legislature.
History:
Laws 2007, ch. 99, § 44.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-45 - 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 that the holder would have as a holder of the definitive bond or bonds.
History:
Laws 2007, ch. 99, § 45.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-46 - 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 through 91 [72-20-89 to 72-20-91 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act.
History:
Laws 2007, ch. 99, § 46.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-47 - 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 authorized in the Eastern Sandoval County Arroyo Flood Control Act, 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 as the board may determine.
History:
Laws 2007, ch. 99, § 47.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-48 - 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 such 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:
Laws 2007, ch. 99, § 48.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-49 - 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:
Laws 2007, ch. 99, § 49.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-50 - 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 the resolution or other instrument may provide.
History:
Laws 2007, ch. 99, § 50.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-51 - Ranking among securities of same issue.

All securities of the same issue or series shall be equally and ratably secured without priority by reason of number, date of maturity, date of securities, of sale, of execution or of delivery, by a lien on such revenues in accordance with the provisions of the Eastern Sandoval County Arroyo Flood Control Act and the resolution authorizing, or other instrument appertaining to, such securities, except to the extent such resolution or other instrument otherwise expressly provides.
History:
Laws 2007, ch. 99, § 51.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-52 - Payment recital in securities.

Each security issued under the Eastern Sandoval County Arroyo Flood Control Act shall recite in substance that the security and the interest on that security are payable solely from the revenues or other money pledged to the payment of those revenues. Securities specifically pledging the full faith and credit of the authority for their payment shall so state.
History:
Laws 2007, ch. 99, § 52.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-53 - Incontestable recital in securities.

Any resolution authorizing, or other instrument appertaining to, any securities under the Eastern Sandoval County Arroyo Flood Control Act may provide that each security authorized by such a resolution shall recite that it is issued under authority of that act. Such recital shall conclusively impart full compliance with all of the provisions of the Eastern Sandoval County Arroyo Flood Control Act, and all securities issued containing such recital shall be incontestable for any cause whatsoever after their delivery for value.
History:
Laws 2007, ch. 99, § 53.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-54 - Limitations upon payment of securities.

The payment of securities shall not be secured by an encumbrance, mortgage or other pledge of property of the authority, except for revenues, income, tax proceeds and other money pledged for the payment of securities. No property of the authority, subject to such exception, shall be liable to be forfeited or taken in payment of the securities.
History:
Laws 2007, ch. 99, § 54.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-55 - Limitations upon incurring any debt.

Nothing in the Eastern Sandoval County Arroyo Flood Control Act shall be construed as creating or authorizing the creation of an indebtedness on the part of any municipality or other public body included in the authority or elsewhere located.
History:
Laws 2007, ch. 99, § 55.
ANNOTATIONS
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-56 - Security details.

Any securities authorized to be issued in the Eastern Sandoval County Arroyo Flood Control Act shall bear the date or dates, shall be in the denomination or denominations, shall mature at the time or times but in no event exceeding forty years from their date or any shorter limitation provided in that act, shall bear interest that may be evidenced by one or two sets of coupons, payable annually or semiannually, except that the first coupon or coupons, if any, appertaining to any security may represent interest for any period not in excess of one year, as may be prescribed by resolution or other instrument; and the securities and any coupons shall be payable in the medium of payment at any banking institution or other place or places within or without the state, including but not limited to the office of the treasurer of the county in which the authority is located wholly or in part, as determined by the board, and the securities at the option of the board may be in one or more series, may be made subject to prior redemption in advance of maturity in the order or by lot or otherwise at the time or times without or with the payment of the premium or premiums not exceeding six percent of the principal amount of each security so redeemed, as determined by the board.
History:
Laws 2007, ch. 99, § 56.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-57 - 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 any other cost of any project by providing for the payment of the amount capitalized from the proceeds of the securities.
History:
Laws 2007, ch. 99, § 57.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-58 - Other security details.

Securities may be issued in such manner, in such form, with such recitals, terms, covenants and conditions and with such other details as may be provided by the board in the resolution authorizing the securities, or other instrument appertaining thereto, except as otherwise provided in the Eastern Sandoval County Arroyo Flood Control Act.
History:
Laws 2007, ch. 99, § 58.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-59 - Reissuance of securities.

Any resolution authorizing the issuance of securities or any other instrument appertaining thereto may provide for their reissuance in other denominations in negotiable or nonnegotiable form and otherwise in such manner and form as the board may determine.
History:
Laws 2007, ch. 99, § 59.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-60 - Negotiability.

Subject to the payment provisions specifically provided in the Eastern Sandoval County Arroyo Flood Control Act, the notes, warrants, bonds, any interest coupons thereto attached, temporary bonds and interim debentures shall be fully negotiable within the meaning of and for all the purposes of the Uniform Commercial Code [Chapter 55 NMSA 1978], except as the board may otherwise provide. Each holder of such security, or of any coupon appertaining thereto, by accepting such security or coupon shall be conclusively deemed to have agreed that such security or coupon, except as otherwise provided, is and shall be fully negotiable within the meaning and for all purposes of the Uniform Commercial Code.
History:
Laws 2007, ch. 99, § 60.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-61 - Single bonds.

Notwithstanding any other provision of law, the board in any proceedings authorizing securities under the Eastern Sandoval County Arroyo Flood Control Act:
A. may provide for the initial issuance of one or more securities, in this section called "bond", aggregating the amount of the entire issue or a designated portion thereof;
B. may make such provision for installment payments of the principal amount of any such bond as it may consider desirable;
C. may provide for the making of any such bond payable to bearer or otherwise, registrable as to principal or as to both principal and interest, and where interest accruing thereon is not represented by interest coupons, for the endorsing of payments of interest on such bonds; and
D. may further make provision in any such proceedings for the manner and circumstances in and under which any such bond may in the future, at the request of the holder thereof, be converted into securities of smaller denominations, which securities of smaller denominations may in turn be either coupon bonds or bonds registrable as to principal or principal and interest or both.
History:
Laws 2007, ch. 99, § 61.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-62 - Lost or destroyed securities.

If lost or completely destroyed, any security may be reissued in the form and tenor of the lost or destroyed security upon the owner furnishing to the satisfaction of the board:
A. proof of ownership;
B. proof of loss or destruction;
C. a surety bond in twice the face amount of the security and any coupons; and
D. payment of the cost of preparing and issuing the new security.
History:
Laws 2007, ch. 99, § 62.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-63 - Execution of securities.

Any security shall be executed in the name of and on behalf of the authority and signed by the chair, with the seal of the authority affixed thereto and attested by the secretary, except for securities issued in book entry or similar form without the delivery of physical securities.
History:
Laws 2007, ch. 99, § 63.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-64 - Interest coupons.

Except for any bonds that 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 chair.
History:
Laws 2007, ch. 99, § 64.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-65 - Facsimile signatures.

Any of the officers, after filing with the secretary of state the officer's manual signature certified by the officer under oath, may execute or cause to be executed with a facsimile signature in lieu of the officer's manual signature any security authorized in the Eastern Sandoval County Arroyo Flood Control Act; provided that such a filing is not a condition of execution with a facsimile signature of any interest coupon, and provided that at least one signature required or permitted to be placed on each such security, excluding any interest coupon, shall be manually subscribed. An officer's facsimile signature has the same legal effect as the officer's manual signature.
History:
Laws 2007, ch. 99, § 65.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-66 - Facsimile seal.

The secretary may cause the seal of the authority to be printed, engraved, stamped or otherwise placed in facsimile on any security. The facsimile seal has the same legal effect as the impression of the seal.
History:
Laws 2007, ch. 99, § 66.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.