reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 72 - Water Law › Article 20 - Eastern Sandoval County Arroyo Flood Control Act › Section 72-20-67 - 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 2007, ch. 99, § 67.
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 72-20-68 - Facsimile signatures of predecessors.

Any officer authorized or permitted in the Eastern 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 the officer's own facsimile signature the facsimile signature of the officer's 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 2007, ch. 99, § 68.
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 72-20-69 - 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, that 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 2007, ch. 99, § 69.
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 72-20-70 - 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 [72-20-76 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act.
History:
Laws 2007, ch. 99, § 70.
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 72-20-71 - Sale of securities.

Any securities authorized in the Eastern 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 Eastern Sandoval County Arroyo Flood Control Act.
History:
Laws 2007, ch. 99, § 71.
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 72-20-72 - Sale discount or commission prohibited.

No discount, except as provided by the Eastern 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 2007, ch. 99, § 72.
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 72-20-73 - Application of proceeds.

All money received from the issuance of any securities authorized in the Eastern 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 2007, ch. 99, § 73.
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 72-20-74 - 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 2007, ch. 99, § 74.
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 72-20-75 - 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 2007, ch. 99, § 75.
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 72-20-76 - 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 Eastern 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 2007, ch. 99, § 76.
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 72-20-77 - Remedies of security holders.

Subject to any contractual limitations binding upon the holders of any issue or series of securities, or trustee therefor, including 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 the holder's 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 Eastern 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 that may be unlawful or in violation of the rights of the holder of any security and to bring suit thereupon.
History:
Laws 2007, ch. 99, § 77.
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 72-20-78 - Limitations upon liabilities.

Neither the directors nor any person executing securities issued under the Eastern Sandoval County Arroyo Flood Control Act shall be liable personally on the securities by reason of the issuance thereof. Securities issued pursuant to the Eastern Sandoval County Arroyo Flood Control 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 2007, ch. 99, § 78.
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 72-20-79 - Cancellation of paid securities.

Whenever the treasurer shall redeem and pay any of the securities issued under the provisions of the Eastern Sandoval County Arroyo Flood Control Act, the treasurer shall cancel the same by writing across the face thereof or stamping thereon the word "paid", together with the date of its payment, sign the treasurer's name thereto and transmit the same to the secretary, taking the secretary's receipt therefor, which receipt shall be filed in the records of the authority. The secretary shall credit the treasurer on the secretary's books for the amount so paid.
History:
Laws 2007, ch. 99, § 79.
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 72-20-80 - Interest after maturity.

No interest shall accrue on any security in the Eastern Sandoval County Arroyo Flood Control Act authorized after it becomes due and payable; provided that 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 2007, ch. 99, § 80.
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 72-20-81 - Refunding bonds.

Any bonds issued under the Eastern 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 2007, ch. 99, § 81.
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 72-20-82 - 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 Eastern Sandoval County Arroyo Flood Control Act for the sale of other bonds.
History:
Laws 2007, ch. 99, § 82.
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 72-20-83 - Limitations upon issuance.

No bonds may be refunded under the Eastern 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 2007, ch. 99, § 83.
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 72-20-84 - 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 2007, ch. 99, § 84
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 72-20-85 - 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 that 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 2007, ch. 99, § 85.
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 72-20-86 - Combination of refunding and other bonds.

Bonds for refunding and bonds for any other purpose or purposes authorized in the Eastern Sandoval County Arroyo Flood Control Act may be issued separately or issued in combination in one series or more.
History:
Laws 2007, ch. 99, § 86.
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 72-20-87 - Supplemental provisions.

Except as specifically provided or necessarily implied in the Eastern 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 2007, ch. 99, § 87.
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 72-20-88 - Board's determination final.

The determination of the board that the limitations imposed upon the issuance of refunding bonds under the Eastern 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 2007, ch. 99, § 88.
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 72-20-89 - Issuance of interim debentures and pledge of bonds as collateral security.

Notwithstanding any limitation or other provision in the Eastern 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 90 and 91 [72-20-90 and 72-20-91 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act, interim debentures shall be issued as provided in that act for securities in Sections 47 through 80 [72-20-47 to 72-20-80 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act. 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 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 2007, ch. 99, § 89.
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 72-20-90 - Interim debentures not to be extended.

No interim debenture issued pursuant to the provisions of Section 89 [72-20-89 NMSA 1978] of the Eastern 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 [72-20-91 NMSA 1978] of that act.
History:
Laws 2007, ch. 99, § 90.
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 72-20-91 - 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 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 Eastern 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 [72-20-89 and 72-20-90 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control 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 [72-20-81, 72-20-82, 72-20-84, 72-20-85, 72-20-87 and 72-20-88 NMSA 1978] of that act and provided for securities in Sections 47 through 80 [72-20-47 to 72-20-80 NMSA 1978] of that act.
History:
Laws 2007, ch. 99, § 91.
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 72-20-92 - 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 sixty days after the first publication of such resolution, other proceedings or notice.
History:
Laws 2007, ch. 99, § 92.
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 72-20-93 - Failure to contest legality constitutes bar.

If no such action or proceedings are commenced or instituted within sixty 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 2007, ch. 99, § 93.
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 72-20-94 - 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 chair 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 Eastern 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 2007, ch. 99, § 94.
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 72-20-95 - 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 Eastern Sandoval County Arroyo Flood Control Act. The court shall disregard any error, irregularity or omission that does not affect the substantial rights of the parties.
History:
Laws 2007, ch. 99, § 95.
ANNOTATIONS
Cross references.
— For rules of civil procedure for the district courts.
see
1-001 NMRA.
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 72-20-96 - Purpose of tax exemptions.

The effectuation of the powers authorized in the Eastern 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 2007, ch. 99, § 96.
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 72-20-97 - 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 Eastern Sandoval County Arroyo Flood Control Act and acquired within the state nor the authority's interest therein.
History:
Laws 2007, ch. 99, § 97.
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 72-20-98 - Securities and income therefrom exempt.

Securities issued under the Eastern 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 2007, ch. 99, § 98.
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 72-20-99 - Freedom from judicial process.

Execution or other judicial process shall not issue against any property of the authority authorized in the Eastern Sandoval County Arroyo Flood Control Act, nor shall any judgment against the authority be a charge or lien upon its property.
History:
Laws 2007, ch. 99, § 99.
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 72-20-100 - Resort to judicial process.

Section 99 [72-20-99 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act does not apply to or limit the right of the holder of any security, the holder's trustee or any assignee of all or part of the holder's 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 2007, ch. 99, § 100.
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 72-20-101 - 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 Eastern 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 2007, ch. 99, § 101.
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 72-20-102 - Open Meetings Act.

All actions and business of the board, including the first board appointed by the governor, shall be conducted pursuant to the Open Meetings Act [Chapter 10, Article 15 NMSA 1978].
History:
Laws 2007, ch. 99, § 102.
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 72-20-103 - Liberal construction.

The Eastern 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 2007, ch. 99, § 103.
ANNOTATIONS
Emergency clauses.
— Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
2023 New Mexico Statutes › Chapter 73 - Special Districts › Article 1 - Artesian Conservancy Districts › Section 73-1-2 - [Lands included in district; two or more artesian basins in one district.]

Any artesian conservancy district organized pursuant to the provisions of this act [73-1-1 to 73-1-13 and 73-1-16 to 73-1-23 NMSA 1978] shall include all lands overlying any such artesian basin and any land outside of the boundaries thereof upon which waters from such basin are being used, either for private, public, commercial, domestic or irrigation purposes, or otherwise.
Two or more such artesian basins or reservoirs may be embraced in the same conservancy district, where the same are so closely related, geographically or otherwise, that the waters therein can more surely and effectively be conserved by the unified control of one district, and where the improvements contemplated will tend to conserve the waters in each basin so included.
History:
Laws 1931, ch. 97, § 2; 1941 Comp., § 77-1302; 1953 Comp., § 75-13-2.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Land within territorial boundaries of district.
— If a well in fact taps waters of an artesian basin, then the land upon which it is drilled is of a kind expressly ordered to be included within the territorial boundaries of the district.
Pecos Valley Artesian Conservancy Dist. v. Peters
, 1945-NMSC-029, 50 N.M. 165, 173 P.2d 490.
District may seek injunction against well tapping waters of basin.
— Though an artesian conservancy district has a legal remedy provided expressly by statute for opposing an application for appropriation of waters made to the state engineer where appropriation is within the district (73-1-26 NMSA 1978), it is not precluded from seeking injunctive relief against use of water from a well that is drilled without such permit outside the territorial boundaries of the district and that taps waters of the artesian basin that underlies the district.
Pecos Valley Artesian Conservancy Dist. v. Peters
, 1945-NMSC-029, 50 N.M. 165, 173 P.2d 490.
Benefited land outside defined boundaries of basin.
— Even though a well is lawfully drilled without permit outside an artesian conservancy district, the district could maintain suit to enjoin use of water from such well that is located on land outside the territorially defined boundaries of the basin as well as outside the district boundaries.
Pecos Valley Artesian Conservancy Dist. v. Peters
, 1945-NMSC-029, 50 N.M. 165, 173 P.2d 490.
2023 New Mexico Statutes › Chapter 73 - Special Districts › Article 1 - Artesian Conservancy Districts › Section 73-1-3 - [Petition; signers; contents of petition.]

In order to establish an artesian conservancy district under this act [73-1-1 to 73-1-13 and 73-1-16 to 73-1-23 NMSA 1978], a petition shall be filed in the district court of the county wherein the greater portion of the lands to be embraced in the district are situated, the same to be signed by the owners of more than one-third (1/3) of the real property in such proposed district, in either acreage or value as shown by the last preceding assessment roll in the county, or counties, wherein such district is proposed to be created. Such petition may be signed by any person, firm, association, corporation or the officers duly authorized of any town, village, city or municipality owning lands within the proposed district. Any city interested in some degree in the improvements or purposes for which a district is to be formed, may, upon proper action of its governing body alone, file the petition required by this section; provided, the population and businesses conducted in such city own at least one-third (1/3) of the lands within said district in either acreage or value as shown by the last preceding assessment roll of the county, or counties, wherein such district is proposed to be created.
The petition shall set forth:
A. the proposed name of the district;
B. a statement of the purpose, or purposes, for which the district is to be formed, and showing wherein the property within the proposed district will be benefited by the accomplishment of some one or more of the purposes enumerated, and giving a general description of the property to be included in the proposed district. Such description need not be given by metes and bounds, or by legal subdivisions, but it shall be sufficient if it enable a property owner to ascertain whether his property is within the territory proposed to be organized as a district, and it need not be necessary that all the property embraced within the district be contiguous;
C. said petition shall pray for the organization of the district by the name proposed.
History:
Laws 1931, ch. 97, § 3; 1941 Comp., § 77-1303; 1953 Comp., § 75-13-3.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
Formation and organization of conservancy districts, 69 A.L.R. 285.
2023 New Mexico Statutes › Chapter 73 - Special Districts › Article 1 - Artesian Conservancy Districts › Section 73-1-4 - [Correction of errors in petition.]

No petition with the requisite signatures shall be declared null and 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 description or in any other particular.
History:
Laws 1931, ch. 97, § 4; 1941 Comp., § 77-1304; 1953 Comp., § 75-13-4.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 73 - Special Districts › Article 1 - Artesian Conservancy Districts › Section 73-1-5 - [More than one petition for same district.]

Several similar petitions, or duplicate copies of the same petition, for the organization of the same district may be filed, and shall together be regarded as one petition. All such petitions filed prior to the hearing on the first petition filed shall be considered by the court the same as though filed with the first petition.
History:
Laws 1931, ch. 97, § 5; 1941 Comp., § 77-1305; 1953 Comp., § 75-13-5.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 73 - Special Districts › Article 1 - Artesian Conservancy Districts › Section 73-1-6 - Signing of petition.

A guardian, conservator or personal representative of an estate, who is appointed as such under the laws of this state, and who, as such guardian, conservator or personal representative, is entitled to the possession of the lands belonging to the estate which he represents may, on behalf of his ward or the estate he represents, upon being thereunto authorized by the proper court, sign and acknowledge the petition in this act [73-1-1 to 73-1-13 and 73-1-16 to 73-1-23 NMSA 1978] mentioned, and may act in respect to the said lands to the same extent, and in the same manner, as a private owner might act.
History:
Laws 1931, ch. 97, § 6; 1941 Comp., § 77-1306; 1953 Comp., § 75-13-6; Laws 1975, ch. 257, § 8-127.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
The 1975 amendment
made this section applicable to guardians, conservators or personal representatives instead of guardians, executors or administrators.
2023 New Mexico Statutes › Chapter 73 - Special Districts › Article 1 - Artesian Conservancy Districts › Section 73-1-7 - [Tax roll as prima facie evidence of property ownership and value.]

In determining whether a requisite number of landowners have signed the petition, the court shall be governed by the names and the value of the property as they appear upon the tax or assessment rolls which shall be prima facie evidence of such ownership and value.
History:
Laws 1931, ch. 97, § 7; 1941 Comp., § 77-1307; 1953 Comp., § 75-13-7.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 73 - Special Districts › Article 1 - Artesian Conservancy Districts › Section 73-1-8 - [Bond; sufficiency; failure to execute additional bond when required.]

At the time of filing the petition, or at any time subsequent thereto and prior to the time of hearing on said petition, a bond shall be filed, with security approved by the court sufficient to pay all the expenses connected with the proceedings in case the organization of the district be not effected. If, at any time during the proceeding, the court shall be satisfied that the bond first executed is not sufficient, it may require the execution of an additional bond within a time to be fixed, which shall not be less than ten days from the date of such order, and upon failure of the petitioners to execute the same, the petition shall be dismissed.
History:
Laws 1931, ch. 97, § 8; 1941 Comp., § 77-1308; 1953 Comp., § 75-13-8.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
2023 New Mexico Statutes › Chapter 73 - Special Districts › Article 1 - Artesian Conservancy Districts › Section 73-1-9 - [Hearing; time and place; publication of notice.]

Immediately after the filing of such petition, the court shall, by order, fix a time and place, not less than sixty (60) days after the petition is filed, for hearing thereon, and thereupon the clerk shall cause notice by publication to be made of the pendency of the petition, and of the time and place of the hearing thereon, in each county in which there is property to be included in the proposed district. If no newspaper is published in any such county, publication shall be made in a newspaper of general circulation in the proposed district.
It shall not be necessary for the clerk to name the parties interested, nor to describe separate lots, tracts or parcels of land in giving such notice, but it shall be sufficient to give such descriptions as to enable the owner to determine whether or not his land is covered by such description. The notice shall state that all persons, corporations and municipalities, or others owning or interested in any property within the proposed district, will be given the opportunity to be heard at the time and place specified in the notice. Publication shall be made as directed by the court, but shall be for at least once each week for four consecutive weeks.
History:
Laws 1931, ch. 97, § 9; 1941 Comp., § 77-1309; 1953 Comp., § 75-13-9.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Cross references.
— For general provisions as to publication of notice,
see
Chapter 14, Article 11 NMSA 1978.
For service of process in the district courts,
see
Rule 1-004 NMRA and Civil Forms 4-206, 4-209 and 4-209A NMRA.
2023 New Mexico Statutes › Chapter 73 - Special Districts › Article 1 - Artesian Conservancy Districts › Section 73-1-10 - [Filing of objections; hearing as advanced cause.]

Any owner of real property, or any public corporation in said proposed district, not having individually signed a petition for the organization and incorporation of said district may, on or before the date set for the cause to be heard, file objections to the organization and incorporation of such district. Such objections shall be heard by the court as an advanced cause without unnecessary delay.
History:
Laws 1931, ch. 97, § 10; 1941 Comp., § 77-1310; 1953 Comp., § 75-13-10.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.