reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-24 - Inclusion of additional property.

The boundaries of any district organized under the provisions of the Flood Control District Act may be changed in the manner prescribed in this section and Section 25 [72-18-25 NMSA 1978] of that act but the change of boundaries of the district shall not impair or affect its organization or its rights in or to property or any of its rights or privileges, nor shall it affect or impair or discharge any contract, obligation, lien or charge for or upon which it might be liable or chargeable had any such change of boundaries not been made. The owners of real property may file with the board a petition, in writing, praying that such real property be included in the district. The petition shall prescribe the property owned by the petitioners, and the petition shall be deemed to give assent of the petitioners to the inclusion in the district of the property described in the petition. The petition shall be acknowledged in the same manner that conveyances of land are required to be acknowledged. The secretary shall cause notice of filing of the petition to be given and published in the county in which the property or the major portion thereof is located, which notice shall state the filing of the petition, the names of the petitioners, descriptions of lands mentioned, the prayer of the petitioners and that all persons interested may appear at the office of the board at the time stated in the notice and show cause in writing why the petition should not be granted. The board shall, at the time and place mentioned or at such time or times at which the hearing may be adjourned, proceed to hear the petition and all objections presented in writing by any person showing cause why the petition should not be granted. The failure of any interested person to show cause in writing shall be deemed and held as an assent on his part to the inclusion of the lands in the district as prayed for in the petition. If the petition is granted, the board shall make an order to that effect and file it with the clerk of the court declaring the organization of the district, and upon order of the court the property shall be included in the district.
History:
Laws 1981, ch. 377, § 24.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-25 - Exclusion from district.

The owners of real property constituting a portion of any district may file with the board a petition praying that such real property be excluded and taken from the district. The petition shall describe the property which the petitioners desire to have excluded. The petition shall be acknowledged in the same manner that conveyances of land are required to be acknowledged and be accompanied by a deposit of money sufficient to pay all costs of the exclusion proceedings. The secretary shall publish notice of filing of the petition, which notice shall state the filing of the petition, the prayer of the petitioners and that all interested persons may appear at the office of the board at the time stated in the notice and show cause in writing why the petition should not be granted. The board shall, at the time and place mentioned in the notice or at the time or times at which the hearing may be adjourned, proceed to hear the petition and all objections presented in writing by any person showing cause why the prayer of the petition should not be granted. The filing of the petition shall be deemed and held as an assent by each petitioner to the exclusion from the district of the property mentioned in the petition, or any part thereof. If it deems it not for the best interests of the district that the property mentioned in the petition, or portion thereof, be excluded from the district, the board shall order that the petition be denied; but if it deems it for the best interests of the district that the property mentioned in the petition, or some portion thereof, be excluded from the district, then the board may order the property mentioned in the petition, or some portion thereof, excluded from the district. Upon allowance of the petition, the board shall file a certified copy of the order of the board with the clerk of the court, and upon order of the court the property shall be excluded from the district.
History:
Laws 1981, ch. 377, § 25.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-25.1 - Exclusion from district; boundary adjustments.

Upon a finding by the secretary of the district that the boundaries of a district established pursuant to the Flood Control District Act incorporate an area of less than thirty-five percent of the area of an existing voting precinct lying along such boundaries, or which minor area appears not to benefit or feasibly expect to benefit from the district, or which may not be of sufficient valuation to the extent that its exclusion from the district would materially impair the district, then the secretary shall file his findings with the board with his recommendation that the minor area be excluded from the district in order that the voting precincts for the district shall become coterminous with the voting district for the county.
If the board determines that it is in the best interests of the district that such area be excluded from the district, the board shall order that the area be excluded and that the secretary shall notify the county commission, county assessor and county clerk that the district boundary and the voting precinct boundary shall thenceforth be coterminous.
History:
1978 Comp., § 72-18-25.1, enacted by Laws 1985, ch. 177, § 1.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-26 - Liability of property included or excluded.

All taxable property annexed to a district shall thereafter be subject to the levy of taxes for the payment of any indebtedness of the district outstanding at the time of the annexation. Property excluded from a district shall thereafter be subject to the levy of taxes for the payment of any indebtedness of the district outstanding at the time of its exclusion in the same manner and to the same extent as if the property had not been excluded from the district.
History:
Laws 1981, ch. 377, § 26.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-27 - Dissolution; petition for election; application.

Whenever the majority of the directors of the board of a district deem it to be in the best interests of the district that it be dissolved, the board shall file an application for dissolution in the district court for the county in which the petition for organization of the district was originally filed.
History:
Laws 1981, ch. 377, § 27.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-28 - Dissolution; requirements for application.

A. The application shall generally describe the boundaries of the district, have a map showing the district, a current financial statement of the district, a plan for final disposition of the assets of the district and for payment of the securities and other financial obligations of the district and shall state whether or not the functions of the district are to be continued and, if so, by what means.
B. The application shall include:
(1) a certificate that the district has no outstanding securities; or
(2) a statement that securities are outstanding but that funds or federal securities will be placed in escrow before dissolution in a state or national bank within the state which has trust powers and which is a member of the federal deposit insurance corporation, and that such funds or federal securities will be sufficient for the payment of the securities outstanding and all expenses relating thereto, including charges of any escrow agent; or
(3) when there are securities outstanding and no escrow plan, a plan for dissolution specifically providing that the district will continue in existence to such extent as is necessary to adequately provide for the payment of the securities and for the continuing of functions, if the functions are to be continued.
C. When the functions of a district are to be continued, any plan for dissolution shall be accompanied by a copy of an agreement with one or more public bodies, whereby responsibility for all functions currently performed by the district shall be assumed by such public bodies. In the event a portion of a district is located within the boundaries of a municipality and a dissolution proceeding has been initiated to permit the municipality to enter into an agreement to perform the functions of the district, the board shall provide an opportunity for residents in the unincorporated area of the district to express their views concerning the provision of services to the unincorporated portions of the district at the time of negotiation of the agreement or any modification thereof.
History:
Laws 1981, ch. 377, § 28.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-29 - Dissolution; notice of filing application.

A. Upon presentation of the application, the court shall publish a notice reciting the fact that an application for dissolution has been filed and that the district has no outstanding securities, or that funds or federal securities will be placed in escrow for the payment of outstanding securities, or that a plan for dissolution has been filed providing for eventual payment in full of all securities and for continuation of functions, if the functions are to be continued.
B. The notice shall specify the time and place of a hearing to be held within sixty days after filing of the application, and shall provide that any interested party may appear and be heard on the sufficiency of the application for dissolution or on the adequacy of the plan for payment of all of the district's securities.
History:
Laws 1981, ch. 377, § 29.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-30 - Dissolution; hearings; court powers.

A. No application for dissolution shall be declared void on account of alleged defects, but the court may at any time permit the petition to be amended to conform to the facts by correcting any errors in the description of the territory or in any other particular.
B. The court shall order an election in the district on the question of dissolution if it finds the application for dissolution to be in order and finds that the district has no outstanding securities or other financial obligations or that the district's securities and other financial obligations will be adequately provided for before dissolution by means of escrow funds or federal securities to secure payment thereof.
C. If the district has outstanding securities or other financial obligations and no escrow plan, the court shall determine whether the continuation of functions provided for in the plan for dissolution adequately provides for payment of the securities and other financial obligations of the district. If the court determines that the application and the plan for dissolution are sufficient and that an agreement exists for continuation of functions, the court shall order an election of the qualified electors of the district pursuant to the provisions of the Local Election Act [Chapter 1, Article 22 NMSA 1978] on the question of dissolving the district or, if there is a plan for dissolution, on the question of dissolving the district in accordance with the plan for dissolution. If, at any time after the filing of an application for dissolution, the court determines that no agreement can be reached concerning the plan for dissolution or that the other requirements of Section 72-18-28 NMSA 1978 cannot be met, it shall dismiss the dissolution proceedings.
History:
Laws 1981, ch. 377, § 30; 2019, ch. 212, § 245.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, provided that an election on whether a flood control district should be dissolved should be held pursuant to the provisions of the Local Election Act; in Subsection C, after "electors of the district", added "pursuant to the provisions of the Local Election Act", and after "requirements of Section", deleted "28 of the Flood Control District Act" and added "72-18-28 NMSA 1978".
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-31 - Dissolution; election notice.

If an election is ordered by the court, the court shall publish a notice of the election. The notice shall include the plan for dissolution or a summary. If the notice includes a summary of the plan for dissolution, provisions shall be made for public inspection of the complete dissolution plan. The notice shall set an election date which shall not be less than twenty nor more than forty days after the first publication of the election notice.
History:
Laws 1981, ch. 377, § 31.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-32 - Dissolution; limitation on elections.

The question of dissolution of a district may be resubmitted to the qualified electors of the district after the same or similar question has previously been rejected by the electors, but no such question shall be submitted at any election held less than twelve months after a previous submission of such question.
History:
Laws 1981, ch. 377, § 32; 2019, ch. 212, § 246.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019; after "qualified", deleted "registered".
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-33 - Dissolution; order entered; conditions attached.

A. In the event the vote results in approval of the dissolution, the court shall enter an order dissolving the district for all purposes or for all purposes except those reserved in the plan, if any. The order shall state that there are no outstanding securities or other financial obligations or that any such securities or other financial obligations are adequately secured by escrow funds or federal securities, or, if the district has outstanding securities or other obligations, such order shall incorporate the provisions of the court's findings accepting the plan for dissolution, including the provisions relating to protection of creditors by means of the agreement as specified in Section 30 [72-18-30 NMSA 1978] of the Flood Control District Act.
B. Whenever the functions of the district are to be continued, the court may provide that all or certain members of the board shall remain in office, subject to appointment by the court to fill vacancies, for performance of duties under Subsections C and D of this section.
C. If the board is continued in existence for the purpose of the payment of securities or other financial obligations, the order for dissolution shall provide that the board shall be responsible for certifying to the board of county commissioners the amount of revenue to be raised by the annual mill levy of the district necessary for payment of the district's obligations.
D. In any case in which an agreement has been made for continuation of the functions of the district, the court may authorize the board to continue in existence for the purpose of seeing to the performance of the agreement, including negotiations relating to any future modifications, procedures for which are provided for in the original agreement. The court's order may in such case specify that its jurisdiction over the dissolution continues for the purpose of considering any future modifications or other questions concerned with performance of the agreement.
History:
Laws 1981, ch. 377, § 33.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-34 - Dissolution; disposition of remaining funds.

If the functions of a dissolved district are not continued, all funds remaining in the treasury of the district in excess of indebtedness, upon completion of the requirements for dissolution, and all taxes paid after dissolution, shall be divided among the municipalities and counties in which the district exists, pro rata, as the latest confirmed assessed value of the taxable property in the parts of the district lying in each municipality and each unincorporated portion of each county bear [bears] to the total latest confirmed assessed value of the taxable property in the district.
History:
Laws 1981, ch. 377, § 34.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-35 - Election.

Wherever in the Flood Control District Act an election of the qualified electors of a district is permitted or required, the election shall be held pursuant to the Local Election Act [Chapter 1, Article 22 NMSA 1978].
History:
Laws 1981, ch. 377, § 35; 2018, ch. 79, § 124; 2019, ch. 212, § 247.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019; after "qualified", deleted "registered".
The 2018 amendment,
effective July 1, 2018, provided that Flood Control District elections shall be held pursuant to the Local Election Act, and made technical and conforming changes; in the introductory clause, deleted "may be held separately at a special election or may be held concurrently with any primary or general election held under the laws of the state; provided, however:" and added "shall be held pursuant to the Local Election Act"; and deleted former Subsections A and B, which related to the timing of Flood Control District elections.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-35.1 - Election of directors; established district.

In a district established pursuant to the Flood Control District Act, the election of directors shall be conducted in accordance with the provisions of the Local Election Act [Chapter 1, Article 22 NMSA 1978].
History:
1978 Comp., § 72-18-35.1, enacted by Laws 1985, ch. 177, § 2; 2018, ch. 79, § 125.
ANNOTATIONS
The 2018 amendment,
effective July 1, 2018, provided that the election of directors to the Flood Control District board shall be held in accordance with the Local Election Act, and made technical and conforming changes; after "established pursuant to the Flood Control District Act", deleted "whose boundaries are coterminous with the voting precincts of the county", and after "the election of directors shall be conducted", deleted the remainder of the section and added "in accordance with the provisions of the Local Election Act".
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-36 - Repealed.

History:
Laws 1981, ch. 377, § 36; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-18-36 NMSA 1978, as enacted by Laws 1981, ch. 377, § 36, 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 18 - Flood Control Districts › Section 72-18-37 - Repealed.

History:
Laws 1981, ch. 377, § 37; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-18-37 NMSA 1978, as enacted by Laws 1981, ch. 377, § 37, 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 18 - Flood Control Districts › Section 72-18-38 - Repealed.

History:
Laws 1981, ch. 377, § 38; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-18-38 NMSA 1978, as enacted by Laws 1981, ch. 377, § 38, 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 18 - Flood Control Districts › Section 72-18-39 - Repealed.

History:
Laws 1981, ch. 377, § 39; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-18-39 NMSA 1978, as enacted by Laws 1981, ch. 377, § 39, relating to precincts and 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 18 - Flood Control Districts › Section 72-18-40 - Repealed.

History:
Laws 1981, ch. 377, § 40; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-18-40 NMSA 1978, as enacted by Laws 1981, ch. 377, § 40, 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 18 - Flood Control Districts › Section 72-18-41 - Repealed.

History:
Laws 1981, ch. 377, § 41; repealed by Laws 2018, ch. 79, § 175.
ANNOTATIONS
Repeals.
— Laws 2018, ch. 79, § 175 repealed 72-18-41 NMSA 1978, as enacted by Laws 1981, ch. 377, § 41, 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 18 - Flood Control Districts › Section 72-18-42 - Powers of public bodies.

The governing body of any municipality or other public body, upon its behalf and in its name, for the purpose of aiding and cooperating in any project, upon the terms and with or without consideration and with or without an election, as the governing body determines, may exercise the following powers:
A. make available for temporary use or otherwise dispose [dispense] to any district any machinery, equipment, facilities and other property, any agents, employees, persons with professional training and any other persons to effect the purposes of the Flood Control District Act. Any property owned and persons in the employ of any public body while engaged in performing for the district any authorized service, activity or undertaking, pursuant to contract or otherwise, shall have and retain all of the powers, privileges, immunities, rights and duties of, and shall be deemed to be engaged in the service and employment of, the public body, notwithstanding that such service, activity or undertaking is being performed in or for the district;
B. enter into any agreement or joint agreement between or among the federal government, any district and any public body extending over any period not exceeding fifty years, which is mutually agreed to, respecting action or proceedings appertaining to any power granted by the Flood Control District Act and the use or joint use of any facilities, project or other property;
C. sell, lease, loan, donate, grant, convey, assign, transfer or pay over to any district any facilities or any project, or any part thereof, or any interest in real or personal property or any funds available for acquisition, improvement, equipment, operation or maintenance purposes, including the proceeds of any securities issued for acquisition, improvement, equipment, operation or maintenance purposes which may be used by the district in the acquisition, improvement, equipment, maintenance or operation of any facilities or project; and
D. transfer, grant, convey or assign and set over to any district any contracts which may have been awarded by the public body for the acquisition, improvement or equipment of any project not begun or, if begun, not completed.
History:
Laws 1981, ch. 377, § 42.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-43 - 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 a district 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.
History:
Laws 1981, ch. 377, § 43.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-44 - Forms of borrowing.

Upon the conditions and circumstances set forth in the Flood Control District Act, any district from time to time may borrow money to defray the cost of acquiring, improving or equipping 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; and
D. interim debentures.
History:
Laws 1981, ch. 377, § 44.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references.
— 52A C.J.S. Levees and Flood Control § 40.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 18 - Flood Control Districts › Section 72-18-46 - Issuance of warrants.

A district is authorized to defray the cost of any services or supplies, equipment or other materials furnished to or for the benefit of the district by the issuance of warrants to evidence the amount due without an election in anticipation of taxes or other revenues.
History:
Laws 1981, ch. 377, § 46.
2023 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.
2023 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.
ANNOTATIONS
The 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".
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
ANNOTATIONS
The 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.
2023 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.
2023 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.
2023 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.
2023 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.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 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.
ANNTATIONS
The 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".
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
ANNOTATIONS
Severability.
— Laws 1981, ch. 377, § 71, provided for the severability of the Flood Control District Act if any part or application thereof is held invalid.
2023 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.
ANNOTATIONS
Cross references.
— For flood control generally,
see
4-50-1 NMSA 1978 et seq.
The 2018 amendment,
effective July 1, 2018, changed "This act" to "Chapter 72, Article 19 NMSA 1978".
2023 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.
2023 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.