reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-66 - Facsimile seal.

The secretary may cause the seal of the district 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 1990, ch. 14, § 66.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-67 - Signatures of predecessors in office.

The securities and any coupons bearing the signatures of the officers in office at the time of the signing shall be the valid and binding obligations of the authority, notwithstanding that before the delivery thereof and payment therefor, any or all of the persons whose signatures appear on those securities or coupons shall have ceased to fill their respective offices.
History:
Laws 1990, ch. 14, § 67.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-68 - Facsimile signatures of predecessors.

Any officer authorized or permitted in the Southern Sandoval County Arroyo Flood Control Act 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 upon the security or coupons appertaining thereto, or upon both the security and such coupons.
History:
Laws 1990, ch. 14, § 68.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-69 - Repurchase of securities.

The securities may be repurchased by the authority out of any funds available for such purpose from the project to which they pertain at a price of not more than the principal amount thereof and accrued interest, plus the amount of the premium, if any, which might, on the next redemption date of such securities, be paid to the holders thereof if such securities should be called for redemption on such date pursuant to their terms, and all securities so repurchased shall be canceled.
History:
Laws 1990, ch. 14, § 69.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-70 - Customary provisions.

The resolution authorizing the securities or other instrument appertaining thereto may contain any agreement or provision customarily contained in instruments securing securities, including without limiting the generality of the foregoing, covenants designated in Section 76 [72-19-76 NMSA 1978] of the Southern Sandoval County Arroyo Flood Control Act.
History:
Laws 1990, ch. 14, § 70.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-71 - Sale of securities.

Any securities authorized in the Southern Sandoval County Arroyo Flood Control Act, except for warrants not issued for cash and except for temporary bonds issued pending preparation of definitive bond or bonds, shall be sold at public or private sale at, above or below par at a net effective interest rate not exceeding the maximum net effective interest rate permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978], as amended and supplemented by the Southern Sandoval County Arroyo Flood Control Act.
History:
Laws 1990, ch. 14, § 71.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-72 - Sale discount or commission prohibited.

No discount, except as provided by the Southern Sandoval County Arroyo Flood Control Act, or commission shall be allowed or paid on or for any security sale to any purchaser or bidder, directly or indirectly, but nothing contained in that act shall be construed as prohibiting the board from employing legal, fiscal, engineering and other expert services in connection with any project or facilities authorized in that act and with the authorization, issuance and sale of securities.
History:
Laws 1990, ch. 14, § 72.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-73 - Application of proceeds.

All money received from the issuance of any securities authorized in the Southern Sandoval County Arroyo Flood Control Act shall be used solely for the purpose for which issued and the cost of any project thereby delineated. Any accrued interest and any premium shall be applied to the payment of the interest on, or the principal of, the securities, or both interest and principal, or shall be deposited in a reserve therefor, as the board may determine.
History:
Laws 1990, ch. 14, § 73.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-74 - Use of unexpended proceeds.

Any unexpended balance of such security proceeds remaining after the completion of the acquisition or improvement and equipment of the project or the completion of the purpose for which such securities were issued shall be paid immediately into the fund created for the payment of the principal of such securities and shall be used therefor, subject to the provisions as to the times and methods for their payment as stated in the securities and the proceedings authorizing or otherwise appertaining to their issuance, or so paid into a reserve therefor.
History:
Laws 1990, ch. 14, § 74.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-75 - Validity unaffected by use of proceeds.

The validity of such securities shall not be dependent on nor affected by the validity or regularity of any proceedings relating to the acquisition or improvement and equipment of the project or the proper completion of any project for which the securities are issued. The purchaser or purchasers of the securities shall in no manner be responsible for the application of the proceeds of the securities by the authority or any of its officers, agents and employees.
History:
Laws 1990, ch. 14, § 75.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-76 - Covenants in security proceedings.

Any resolution or trust indenture authorizing the issuance of securities or any other instrument appertaining thereto may contain covenants and other provisions (notwithstanding such covenants and provisions may limit the exercise of powers conferred by the Southern Sandoval County Arroyo Flood Control Act) in order to secure the payment of such securities in agreement with the holders and owners of such securities, as the board may determine, including without limiting the generality of the foregoing, all such acts and things as may be necessary or convenient or desirable in order to secure the authority's securities, or in the discretion of the board tend to make the securities more marketable, notwithstanding that such covenant, act or thing may not be enumerated in that act, it being the intention of that act to give the authority power to do all things in the issuance of securities and for their security except as specifically limited in that act.
History:
Laws 1990, ch. 14, § 76.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-77 - Remedies of security holders.

Subject to any contractual limitations binding upon the holders of any issue or series of securities, or trustee therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion, percentage or number of such holders, and subject to any prior or superior rights of others, any holder of securities, or trustee therefor, shall have the right and power for the equal benefit and protection of all holders of securities similarly situated:
A. by mandamus or other suit, action or proceeding at law or in equity to enforce his rights against the authority and the board and any of its officers, agents and employees, and to require and compel the authority or the board or any such officers, agents or employees to perform and carry out its and their duties, obligations or other commitments under the Southern Sandoval County Arroyo Flood Control Act and its and their covenants and agreements with the holder of any security;
B. by action or suit in equity to require the authority and the board to account as if they were the trustee of an express trust;
C. by action or suit in equity to have appointed a receiver, which receiver may enter and take possession of any system or project or services revenues from which are pledged for the payment of the securities, prescribe sufficient fees derived from the operation thereof, and collect, receive and apply all revenues or other money pledged for the payment of the securities in the same manner as the authority itself might do in accordance with the obligations of the authority; and
D. by action or suit in equity to enjoin any acts or things which may be unlawful or in violation of the rights of the holder of any security and to bring suit thereupon.
History:
Laws 1990, ch. 14, § 77.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-78 - Limitations upon liabilities.

Neither the directors nor any person executing securities issued under the Southern Sandoval County Arroyo Flood Control Act shall be liable personally on the securities by reason of the issuance thereof. Securities issued pursuant to that act shall not be in any way a debt or liability of the state or of any municipality or other public body and shall not create or constitute any indebtedness, liability or obligation of the state or of any such municipality or other public body, either legal, moral or otherwise, and nothing contained in that act shall be construed to authorize the authority to incur any indebtedness on behalf of or in any way to obligate the state or any municipality or other public body, except the authority and except as otherwise expressly stated or necessarily implied in that act.
History:
Laws 1990, ch. 14, § 78.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-79 - Cancellation of paid securities.

Whenever the treasurer shall redeem and pay any of the securities issued under the provisions of the Southern Sandoval County Arroyo Flood Control Act, he shall cancel the same by writing across the face thereof or stamping thereon the word "paid", together with the date of its payment, sign his name thereto and transmit the same to the secretary, taking his receipt therefor, which receipt shall be filed in the records of the authority. The secretary shall credit the treasurer on his books for the amount so paid.
History:
Laws 1990, ch. 14, § 79.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-80 - Interest after maturity.

No interest shall accrue on any security in the Southern Sandoval County Arroyo Flood Control Act authorized after it becomes due and payable; provided funds for the payment of the principal of and the interest on the security and any prior redemption premium due are available to the paying agent for such payment without default.
History:
Laws 1990, ch. 14, § 80.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-81 - Refunding bonds.

Any bonds issued under the Southern Sandoval County Arroyo Flood Control Act may be refunded, without an election, but subject to provisions concerning their payment and to any other contractual limitations in the proceedings authorizing their issuance or otherwise appertaining thereto, pursuant to a resolution or resolutions to be adopted by the board in the manner provided in that act for the issuance of other securities, to refund, pay or discharge all or any part of the authority's outstanding bonds, heretofore or hereafter issued, including any interest thereon in arrears or about to become due, or for the purpose of reducing interest costs or effecting other economies or of modifying or eliminating restrictive contractual limitations appertaining to the issuance of additional bonds or any project, or any combination thereof.
History:
Laws 1990, ch. 14, § 81.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-82 - Method of issuance.

Any bonds issued for refunding purposes may either be delivered in exchange for the outstanding bonds authorized to be refunded or may be sold as provided in the Southern Sandoval County Arroyo Flood Control Act for the sale of other bonds.
History:
Laws 1990, ch. 14, § 82.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-83 - Limitations upon issuance.

No bonds may be refunded under the Southern Sandoval County Arroyo Flood Control Act unless the holders of the bonds voluntarily surrender them for exchange or payment or unless they either mature or are callable for prior redemption under their terms within ten years from the date of issuance of the refunding bonds. Provision shall be made for paying the bonds within that period of time. No maturity of any bonds refunded may be extended over fifteen years nor may any interest on the bonds be increased to any coupon rate exceeding the maximum net effective interest rate permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]. The principal amount of the refunding bonds may exceed the principal amount of the refunded bonds if the aggregate principal and interest costs of the refunding bonds do not exceed such unaccrued costs of the bonds refunded. The principal amount of the refunding bonds may also be less than or the same as the principal amount of the bonds refunded so long as provision is duly and sufficiently made for their payment.
History:
Laws 1990, ch. 14, § 83.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-84 - Use of refunding bond proceeds.

The proceeds of refunding bonds shall either be immediately applied to the retirement of the bonds to be refunded or be placed in escrow to be applied to the payment of the bonds upon their presentation; provided, however, any accrued interest and any premium appertaining to a sale of refunding bonds may be applied to the payment of the interest or the principal or both interest and principal or may be deposited in a reserve therefor as the board may determine. The escrow shall not necessarily be limited to refunding bond proceeds but may include other money made available for such purpose. Any escrowed proceeds pending such use may be invested or reinvested in federal securities. Escrowed proceeds and investments, together with any interest to be derived from any such investment, shall be in an amount at all times sufficient as to principal, interest, any prior redemption premium due and any charges of the escrow agent payable therefrom to pay the bonds refunded as they become due at their respective maturities or due at designated prior redemption date or dates upon which the board shall exercise a prior redemption option. Upon establishment of an escrow in accordance with this section, the refunded bonds payable therefrom no longer constitute outstanding indebtedness of the authority.
History:
Laws 1990, ch. 14, § 84.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-85 - Payment of refunding bonds.

Refunding revenue bonds may be made payable from any revenues derived from the operation of the flood control system or any project, notwithstanding the pledge of such revenues for the payment of the outstanding bonds issued by the authority which are to be refunded is thereby modified. Any refunding revenue bonds shall not be made payable from taxes unless the bonds thereby refunded are payable from taxes.
History:
Laws 1990, ch. 14, § 85.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-86 - Combination of refunding and other bonds.

Bonds for refunding and bonds for any other purpose or purposes authorized in the Southern Sandoval County Arroyo Flood Control Act may be issued separately or issued in combination in one series or more.
History:
Laws 1990, ch. 14, § 86.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-87 - Supplemental provisions.

Except as specifically provided or necessarily implied in the Southern Sandoval County Arroyo Flood Control Act, the relevant provisions of that act pertaining to bonds generally shall be equally applicable in the authorization and issuance of refunding bonds, including their terms and security, the bond resolution, trust indenture, taxes and service charges and other aspects of the bonds.
History:
Laws 1990, ch. 14, § 87.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-88 - Board's determination final.

The determination of the board that the limitations imposed upon the issuance of refunding bonds under the Southern Sandoval County Arroyo Flood Control Act have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion.
History:
Laws 1990, ch. 14, § 88.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-89 - Issuance of interim debentures and pledge of bonds as collateral security.

Notwithstanding any limitation or other provision in the Southern Sandoval County Arroyo Flood Control Act, whenever a majority of the qualified electors of the authority voting on a proposal to issue bonds has authorized the authority to issue bonds for any purpose authorized in that act, the authority is authorized to borrow money without any other election in anticipation of taxes, the proceeds of the bonds or any other revenues of the authority, or any combination thereof, and to issue interim debentures to evidence the amount so borrowed. Interim debentures may mature at such time not exceeding a period of time equal to the estimated time needed to effect the purpose for which the bonds are so authorized to be issued, plus two years, as the board may determine. Except as otherwise provided in this section and in Sections 72-19-90 and 72-19-91 NMSA 1978, interim debentures shall be issued as provided in that act for securities in Sections 72-19-47 through 72-19-80 NMSA 1978. Taxes, other revenues of the authority, including without limiting the generality of the foregoing proceeds of bonds to be thereafter issued or reissued or bonds issued for the purpose of securing the payment of interim debentures may be pledged for the purpose of securing the payment of the interim debentures. Any bonds pledged as collateral security for the payment of any interim debentures shall mature at such time as the board may determine, but in no event exceeding forty years from the date of either any of such bonds or any of such interim debentures, whichever date is the earlier. Any such bonds pledged as collateral security shall not be issued in an aggregate principal amount exceeding the aggregate principal amount of the interim debenture secured by a pledge of such bonds nor shall they bear interest at any time which with any interest accruing at the same time on the interim debenture so secured exceeds six percent per year.
History:
Laws 1990, ch. 14, § 89; 1991, ch. 60, § 8.
ANNOTATIONS
The 1991 amendment,
effective June 14, 1991, in the first sentence, substituted "the qualified electors" for "the taxpaying electors" and, in the third sentence, substituted "Sections 72-19-90 and 72-19-91 NMSA 1978" for "Sections 90 and 91 of the Southern Sandoval County Arroyo Flood Control Act" and "Sections 72-19-47 through 72-19-80 NMSA 1978" for "Sections 47 through 80 of that act".
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-90 - Interim debentures not to be extended.

No interim debenture issued pursuant to the provisions of Section 89 [72-19-89 NMSA 1978] of the Southern Sandoval County Arroyo Flood Control Act shall be extended or funded except by the issuance or reissuance of a bond or bonds in compliance with Section 91 [72-19-91 NMSA 1978] of that act.
History:
Laws 1990, ch. 14, § 90.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-91 - Funding.

For the purpose of funding any interim debenture or interim debentures, any bond or bonds pledged as collateral security to secure the payment of such interim debenture or interim debentures may be reissued without an election, and any bonds not previously issued but authorized to be issued at an election for a purpose the same as or encompassing the purpose for which the interim debentures were issued may be issued for such a funding. Any such bonds shall mature at such time 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 the earlier. Bonds for funding, including but not necessarily limited to any such reissued bonds, and bonds for any other purpose or purposes authorized in the Southern Sandoval County Arroyo Flood Control Act may be issued separately or issued in combination in one series or more. Except as otherwise provided in Sections 89 and 90 [72-19-89 and 72-19-90 NMSA 1978] of that act and in this section, any such funding bonds shall be issued as is provided for refunding bonds in Sections 81, 82, 84, 85, 87 and 88 [72-19-81, 72-19-82, 72-19-84, 72-19-85, 72-19-87 and 72-19-88 NMSA 1978] and provided for securities in Sections 47 through 80 [72-19-47 to 72-19-80 NMSA 1978] of that act.
History:
Laws 1990, ch. 14, § 91.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-92 - Publication of resolution or proceedings.

In its discretion, the board may provide for the publication once in full of either any resolution or other proceedings adopted by the board ordering the issuance of any securities or, in the alternative, of notice thereof, which resolution, other proceedings or notice so published shall state the fact and date of such adoption and the place where such resolution or other proceedings have been filed for public inspection and also the date of the first publication of such resolution, other proceedings or notice and also state that any action or proceeding of any kind or nature in any court questioning the validity of the creation and establishment of the authority, or the validity or proper authorization of securities provided for by the resolution or other proceedings, or the validity of any covenants, agreements or contracts provided for by the resolution or other proceedings, shall be commenced within twenty days after the first publication of such resolution, other proceedings or notice.
History:
Laws 1990, ch. 14, § 92.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-93 - Failure to contest legality constitutes bar.

If no such action or proceedings are commenced or instituted within twenty days after the first publication of such resolution, other proceedings or notice, then all residents and taxpayers and owners of property in the authority and all public bodies and all other persons whatsoever shall be forever barred and foreclosed from instituting or commencing any action or proceeding in any court or from pleading any defense to any action or proceedings questioning the validity of the creation and establishment of the authority, the validity or proper authorization of such securities or the validity of any such covenants, agreements or contracts. The securities, covenants, agreements and contracts shall be conclusively deemed to be valid and binding obligations in accordance with their terms and tenor.
History:
Laws 1990, ch. 14, § 93.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-94 - Confirmation of contract proceedings.

In its discretion, the board may file a petition at any time in the district court in and for any county in which the authority is located wholly or in part, praying a judicial examination and determination of any power conferred or of any tax or rates or charges levied or of any act, proceeding or contract of the authority, whether or not the contract has been executed, including proposed contracts for the acquisition, improvement, equipment, maintenance, operation or disposal of any project for the authority. Such petition shall set forth the facts whereon the validity of such power, assessment, act, proceeding or contract is founded and shall be verified by the chairman of the board. Such action shall be in the nature of a proceeding in rem, and jurisdiction of all parties interested may be had by publication and posting as provided in the Southern Sandoval County Arroyo Flood Control Act. Notice of the filing of the petition shall be given by the clerk of the court, under the seal thereof, stating in brief outline the contents of the petition and showing where a full copy of any contract therein mentioned may be examined. The notice shall be served by publication in at least five consecutive issues of a weekly newspaper of general circulation published in the county in which the principal office of the authority is located, and by posting the same in the office of the authority at least thirty days prior to the date fixed in the notice for the hearing on the petition. Jurisdiction shall be complete after such publication and posting. Any owner of property in the authority or person interested in the contract or proposed contract or in the premises may appear and move to dismiss or answer the petition at any time prior to the date fixed for the hearing or within such further time as may be allowed by the court, and the petition shall be taken as confessed by all persons who fail so to appear.
History:
Laws 1990, ch. 14, § 94.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-95 - Review and judgment of court.

The petition and notice shall be sufficient to give the court jurisdiction, and upon hearing the court shall examine into and determine all matters and things affecting the question submitted, shall make such findings with reference thereto and render such judgment and decree thereon as the case warrants. Costs may be divided or apportioned among any contesting parties in the discretion of the trial court. Review of the judgment of the court may be had as in other similar cases, except that such review shall be applied for within thirty days after the time of the rendition of such judgment or within such additional time as may be allowed by the court within thirty days. The rules of civil procedure shall govern in matters of pleading and practice where not otherwise specified in the Southern Sandoval County Arroyo Flood Control Act. The court shall disregard any error, irregularity or omission which does not affect the substantial rights of the parties.
History:
Laws 1990, ch. 14, § 95.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-96 - Purpose of tax exemptions.

The effectuation of the powers authorized in the Southern Sandoval County Arroyo Flood Control Act shall and will be in all respects for the benefit of the people of the state, including but not necessarily limited to those residing in the authority exercising any power under that act, for the improvement of their health and living conditions and for the increase of their commerce and prosperity.
History:
Laws 1990, ch. 14, § 96.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-97 - Property exempt from general taxes.

The authority shall not be required to pay any general (ad valorem) taxes upon any property appertaining to any project authorized in the Southern Sandoval County Arroyo Flood Control Act and acquired within the state nor the authority's interest therein.
History:
Laws 1990, ch. 14, § 97.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-98 - Securities and income therefrom exempt.

Securities issued under the Southern Sandoval County Arroyo Flood Control Act and the income therefrom shall forever be and remain free and exempt from taxation by the state, the authority and any other public body, except transfer, inheritance and estate taxes.
History:
Laws 1990, ch. 14, § 98.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-99 - Freedom from judicial process.

Execution or other judicial process shall not issue against any property of the authority authorized in the Southern Sandoval County Arroyo Flood Control Act, nor shall any judgment against the authority be a charge or lien upon its property.
History:
Laws 1990, ch. 14, § 99.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-100 - Resort to judicial process.

Section 99 [72-19-99 NMSA 1978] of the Southern Sandoval County Arroyo Flood Control Act does not apply to or limit the right of the holder of any security, his trustee or any assignee of all or part of his interest, the federal government when it is a party to any contract with the authority, and any other obligee under that act to foreclose, otherwise to enforce, and to pursue any remedies for the enforcement of any pledge or lien given by the authority on the proceeds of taxes, service charges or other revenues.
History:
Laws 1990, ch. 14, § 100.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-101 - 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 funds or money in their custody in any of the securities authorized to be issued pursuant to the provisions of the Southern Sandoval County Arroyo Flood Control 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 1990, ch. 14, § 101.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-102 - Civil rights.

The authority damaged by any such act may also bring a civil action for damages sustained by any such act, and in such proceeding the prevailing party shall also be entitled to reasonable attorneys' fees and costs of court.
History:
Laws 1990, ch. 14, § 102.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 19 - Southern Sandoval County Flood Control › Section 72-19-103 - Liberal construction.

The Southern Sandoval County Arroyo Flood Control Act, being necessary to secure and preserve the public health, safety and general welfare, the rule of strict consideration shall have no application to that act, but it shall be liberally construed to effect the purposes and objects for which that act is intended.
History:
Laws 1990, ch. 14, § 103.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-1 - Short title.

Chapter 72, Article 20 NMSA 1978 may be cited as the "Eastern Sandoval County Arroyo Flood Control Act".
History:
Laws 2007, ch. 99, § 1; 2011, ch. 100, § 1.
ANNOTATIONS
The 2011 amendment,
effective April 6, 2011, changed the statutory reference to the act.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-2 - 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 Eastern 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 the Eastern Sandoval County Arroyo Flood Control 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 Eastern Sandoval County Arroyo Flood Control Act;
E. the notice provided for in the Eastern 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 that may directly and adversely affect that person's legally protected interests;
F. a general law cannot be made applicable to the designated flood control system and the provisions appertaining thereto in the Eastern 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 the Eastern Sandoval County Arroyo Flood Control Act shall be broadly construed.
History:
Laws 2007, ch. 99, § 2.
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 72-20-3 - 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 Eastern Sandoval County Arroyo Flood Control Act shall be final and conclusive, if supported by substantial evidence, unless the action and decision are arbitrary, capricious or fraudulent.
History:
Laws 2007, ch. 99, § 3.
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 72-20-5 - Creation of authority.

There is created a flood control authority to be known and designated as the "eastern Sandoval county arroyo flood control authority".
History:
Laws 2007, ch. 99, § 5.
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 72-20-6 - Boundaries of authority.

A. Except as provided in Subsections B and C of this section, the authority consists of all land within the following boundaries: a portion of southern Sandoval county bounded on the east by a line following the eastern boundary of range 5 east of the New Mexico principal meridian, on the south by the Pueblo of Sandia and the Cibola national forest, on the west by the Rio Grande and on the north by a line following the northern boundary of township 13 north of the New Mexico principal meridian. The boundary is more particularly described as follows: beginning at the southeast corner of projected section 1, township 12 north, range 5 east of the New Mexico principal meridian, that point also being the southeast corner of herein described boundary; thence proceeding in a westerly direction along a line coincident with the northern boundary of the Cibola national forest and of the Pueblo of Sandia to a point along the west bank of the Rio Grande within projected section 1, township 12 north, range 3 east of the New Mexico principal meridian; thence in a northeasterly direction along the west bank of the Rio Grande to a point in the northwest corner of section 1, township 13 north, range 4 east of the New Mexico principal meridian; thence east along a line following the northern boundary of township 13 north of the New Mexico principal meridian for approximately seven miles to a point in the northeast corner of section 1, township 13 north, range 5 east of the New Mexico principal meridian; thence in a southerly direction approximately seven miles to the southeast corner of projected section 1, township 12 north, range 5 east of the New Mexico principal meridian, which point is the southeast corner and point of beginning of the district.
B. All lands held in trust or ownership by the federal government or an Indian pueblo located within the boundaries identified in Subsection A of this section shall be excluded from the authority.
C. On the first day of the first month immediately following the effective date of this 2011 act, all land within Sandoval county precincts 5, 28, 55 and 56 and precinct 6 east of interstate 25, as those precinct designations and boundaries were revised and approved by the secretary of state as of August 31, 2001 pursuant to the Precinct Boundary Adjustment Act, shall be excluded from the authority.
History:
Laws 2007, ch. 99, § 6; 2011, ch. 100, § 2.
ANNOTATIONS
The 2011 amendment,
effective April 6, 2011, changed the statutory reference to the act.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-7 - Petition for exclusion.

Within one hundred eighty days from the effective date of the Eastern Sandoval County Arroyo Flood Control Act, a written, signed and acknowledged petition against the acquiring of the flood control system provided for in Section 19 [72-20-19 NMSA 1978] of that act may be filed with the board by the owners of property of at least thirty percent of the value of the property provided to be taxed in that act, based upon the assessed valuation of that property for general taxes for the year preceding the year of making the petition. If there is real estate in the authority that has not been separately assessed by the taxing authorities, the board shall value such real estate for the purpose of such petition on the same basis of valuation as other real estate similarly situated that has been separately assessed. The board shall, as soon as possible, examine such petition, if made, and canvass and pass upon and determine its sufficiency, and its action shall be final. If the petition is found to contain the names of the owners of property of thirty percent of the total valuation of the property to be taxed under the Eastern Sandoval County Arroyo Flood Control Act and is found to be sufficient, then the flood control system shall not be acquired; provided that no action under the terms of that act shall be delayed during the period of one hundred eighty days, except that no bonds shall be issued during that time.
History:
Laws 2007, ch. 99, § 7.
ANNOTATIONS
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-8 - Board of directors.

A. The governing body of the authority is a board of directors consisting of three qualified electors of the authority; provided that, after single-member districts are created pursuant to Subsection B of Section 72-20-10 NMSA 1978 and after the expiration of the terms of any directors-at-large who are serving at the time that single-member districts are created:
(1) each director shall reside within and represent a specified district; and
(2) if a director no longer resides within the district that the director represents, the director's position shall be deemed vacant and a successor shall be appointed to serve the unexpired term pursuant to Section 72-20-12 NMSA 1978.
B. All powers, rights, privileges and duties vested in or imposed upon the authority are exercised and performed by and through the board of directors; provided that the exercise of any executive, administrative and ministerial powers may be, by the board, delegated and redelegated to officers and employees of the authority or to any officer or employee contracted by agreement to manage and administer the operations of the authority. Except for the first directors appointed as provided for in Section 72-20-9 NMSA 1978 or elected as provided in Section 72-20-10 NMSA 1978 and except for any director chosen to fill an unexpired term, and except for the first directors serving after the authority is divided into single-member districts, the term of each director runs for six years. Each director, subject to such exceptions, shall serve a six-year term, and each director shall serve until a successor has been duly chosen and qualified.
History:
Laws 2007, ch. 99, § 8; 2011, ch. 100, § 3; 2018, ch. 79, § 134; 2019, ch. 212, § 250.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019; in Subsection A, deleted "registered" preceding "qualified electors".
The 2018 amendment,
effective July 1, 2018, removed language related to the commencing and ending dates of the terms of the board of directors of the eastern Sandoval county arroyo flood control authority, and made technical changes; in Subsection A, after "consisting of three", added "registered"; in Subsection B, after "the term of each director", deleted "commences on the first day of January next following a general election in the state and", and after "six-year term", deleted "ending on the first day of January next following a general election".
The 2011 amendment,
effective April 6, 2011, lowered the number of directors and provided for the composition of the board of directors after single-member districts are created and the terms of directors-at-large expire.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-9 - Appointment of first board; initial management.

A. When the Eastern Sandoval County Arroyo Flood Control Act goes into effect, the governor shall forthwith appoint five qualified electors of the authority as the directors comprising the first board. They shall serve until their successors have been elected and qualified. Immediately upon their appointment, the five directors shall meet, qualify and choose officers, as provided for organizational meetings in Section 13 [72-20-13 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act.
B. Immediately following the appointment of the first board of directors, the management and administration of the authority may be performed by the southern Sandoval county arroyo flood control authority, for a reasonable fee, until the first board election for the authority is held. Subsequent to the election of the first board of the authority, the authority may enter into an agreement with the southern Sandoval county arroyo flood control authority for the continued management and administration of the authority.
History:
Laws 2007, ch. 99, § 9.
ANNOTATIONS
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-11 - Nomination of directors.

Written nominations of any candidate as director may be filed with the proper filing officer in accordance with the provisions of the Local Election Act [Chapter 1, Article 22 NMSA 1978]. Each nomination of any candidate shall be signed by not less than fifty qualified electors, regardless of whether or not nominated, shall designate the name of the candidates nominated and shall recite that the subscribers are qualified electors and that the candidates designated are qualified electors of the authority. No written nomination may designate more qualified electors as candidates than there are vacancies. No qualified elector may nominate more than one candidate for any vacancy.
History:
Laws 2007, ch. 99, § 11; 2011, ch. 100, § 5; 2018, ch. 79, § 136.
ANNOTATIONS
The 2018 amendment,
effective July 1, 2018, provided that nominations for candidates as members of the eastern Sandoval county arroyo flood control authority be filed in accordance with the provisions of the Local Election Act; in the introductory paragraph, deleted "Not later than forty-five days before a proposal to incur debt is first submitted to the qualified electors or at the first general election following March 30, 2007, whichever occurs first", after "filed with the", deleted "secretary of the board" and added "proper filing officer in accordance with the provisions of the Local Election Act", and deleted the last two sentences of the paragraph, which related to placement of names on the ballot and nominating procedures; and deleted former Subsections A through D, which related to nominating procedures.
The 2011 amendment,
effective April 6, 2011, provided the procedure for nominating candidates to the board of directors for elections held after November 2010.
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-12 - Filling vacancies on the board.

Upon a vacancy occurring in the board by reason of death, change of residence or resignation or for any other reason, the governor shall appoint a qualified elector of the authority as successor to serve the unexpired term; provided that if the vacancy occurs after the single-member districts are created pursuant to Subsection B of Section 72-20-10 NMSA 1978, the qualified elector appointed shall reside within the district in which the vacancy exists.
History:
Laws 2007, ch. 99, § 12; 2011, ch. 100, § 6.
ANNOTATIONS
The 2011 amendment,
effective April 6, 2011, required that electors who fill vacancies after the creation of single-member districts be residents of the district in which the vacancy occurs.