reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-18 - Improvement district; filing of objections; assessment hearing; action of the board; appeal to district court.

A. Not later than three days before the date of the hearing on the assessment roll, any owner of a tract or parcel of land that is listed on the assessment roll may file his specific objections in writing with the county clerk. Unless presented as required in this subsection, any objection to the regularity, validity and correctness of:
(1) the proceedings;
(2) the assessment roll;
(3) each assessment contained on the assessment roll; or
(4) the amount of the assessment levied against each tract or parcel of land; is waived.
B. At the hearing, the board shall hear all objections which have been filed as provided in this section and may recess the hearing from time to time and, by resolution, revise, correct, confirm or set aside any assessment and order another assessment be made de novo.
C. The board by ordinance shall, by reference to the assessment roll as so modified, if modified, and as confirmed by the resolution, levy the assessments contained in the assessment roll. The assessments may be levied in stages if preliminary liens are established pursuant to Section 4-55A-7 NMSA 1978. The decision, resolution and ordinance of the board shall be:
(1) a final determination of the regularity, validity and correctness of:
(a) the proceedings;
(b) the assessment roll;
(c) each assessment contained on the assessment roll; and
(d) the amount of the assessment levied against each tract or parcel of land; and
(2) conclusive upon the owners of the tract or parcel of land assessed.
D. Within fifteen days after the publication of the title and general summary of the ordinance or posting of the ordinance, any owner who has filed an objection as provided in this section may commence an action in district court to correct or set aside the determination of the board. After the lapse of fifteen days after the publication or posting, all actions which include the defense of confiscation or attack the regularity, validity and correctness of:
(1) the proceedings;
(2) the assessment roll;
(3) each assessment contained on the assessment roll; or
(4) the amount of the assessment levied against each tract or parcel of land; are perpetually barred.
History:
Laws 1980, ch. 91, § 18; 1991, ch. 199, § 41.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, inserted "action of the board" in the catchline; added the second sentence in Subsection C; inserted "of the title and general summary of the ordinance" in the first sentence in Subsection D; and made minor stylistic changes throughout the section.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-21 - Improvement district; rights of negotiable bondholders or assignable certificate holders.

A. If the board fails or refuses to foreclose and sell a tract or parcel of land for the delinquent assessment or installment of the assessment as required in Section 4-55A-22 NMSA 1978, any holder of a bond or assignable certificate secured by the assessment may foreclose the assessment lien on such delinquent property in the manner provided by law for the foreclosure of mortgages on real estate.
B. Any person holding two or more assignable certificates issued as authorized in Section 4-55A-20 NMSA 1978 may sue in the same action on all tracts or parcels of land described in the certificate to enforce the lien against the tract or parcel of land described in the certificate unless the assessment lien has been adjusted pursuant to Section 4-55A-19 NMSA 1978.
C. Whenever a governing body of a municipality, board of county commissioners or local board of education is delinquent in the payment of an assessment, the holder of any assignable certificate issued against the tract or parcel of land of the municipality, county or school district has the rights and remedies for the collection of the assessment as are given by law for the collection of judgments against municipalities, counties and school districts.
History:
Laws 1980, ch. 91, § 21; 1991, ch. 199, § 44.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, substituted "Section 4-55A-22 NMSA 1978" for "Section 22 of the County Improvement District Act" and inserted "or assignable certificate" in Subsection A and, in Subsection B, substituted "Section 4-55A-20 NMSA 1978" for "Section 20 of the County Improvement District Act" near the beginning and added "unless the assessment lien has been adjusted pursuant to Section 4-55A-19 NMSA 1978" at the end.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-22 - Improvement district; additional duties imposed on county.

A. Whenever an improvement district has been created and bonds or assignable certificates have been issued to finance the improvement, a county shall:
(1) act as agent for the collection of the assessments;
(2) collect the assessments when due;
(3) act as trustee for the benefit of the holders of the bonds or assignable certificates;
(4) annually prepare a statement that shall:
(a) be available for inspection in the office of the county treasurer;
(b) reflect the financial condition of the improvement district; and
(c) list all the delinquencies existing at that time; and
(5) institute proceedings to foreclose the assessment lien against any tract or parcel of land that is delinquent in the payment of the assessment or installment of an assessment for a period of more than one year.
B. If more than one improvement district is created, the money from assessments in each district shall be kept in a separate fund and used for the payment of principal and interest of the bonds or assignable certificates outstanding against that improvement district.
History:
Laws 1980, ch. 91, § 22; 1991, ch. 199, § 45.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, deleted "negotiable coupon" preceding "bonds" in two places in Subsection A and once in Subsection B and, in Subsection A, substituted "when due" for "annually or semiannually" at the end of Paragraph (2), redesignated former Subparagraph (d) of Paragraph (4) as Paragraph (5) and made related and minor stylistic changes.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-23 - Improvement district; acceptance of deed in lieu of foreclosure.

In lieu of the foreclosure of a lien against any tract or parcel of land which is delinquent in the payment of an assessment or installment of an assessment for a period of more than one year, a county may accept a deed to the property subject to the lien if the owner of the property tenders the deed to the county.
History:
Laws 1980, ch. 91, § 23.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-24 - Improvement district; foreclosure; trustee may purchase at foreclosure of liens; contents of bid.

Any delinquent assessment has the effect of a mortgage and shall be foreclosed and sold in the manner provided by law for the foreclosure of mortgages on real estate. In any action seeking the foreclosure of a lien against any tract or parcel of land assessed by a county for the construction of any project after either or both assignable certificates or bonds have been issued, if there is no other purchaser for the tract or parcel of land having a delinquent assessment, the county as trustee of the fund from which the assignable certificates or bonds are to be paid, may:
A. purchase the tract or parcel of land sold at the foreclosure sale; and
B. bid, in lieu of cash, the full amount of the assessment, interest, penalties, attorneys' fees and costs found by the court to be due and payable under the ordinance creating the lien and any cost taxed by the court in the foreclosure proceedings against the property ordered sold.
History:
Laws 1980, ch. 91, § 24; 1991, ch. 199, § 46.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, inserted "foreclosure", deleted "street improvement" preceding "liens" and deleted "where bonds were exchanged for certificates" following "liens" in the catchline; added the present first sentence; substituted "or bonds have been issued, if there is no other purchaser for the tract or parcel of land having delinquent assessment, the county as trustee of the fund from which the assignable certificates or bonds are to be paid, may" for "and negotiable coupon bonds have been issued, the trustee of the fund from which the bonds are to be paid, may" at the end of the introductory paragraph; and, in Subsection B, inserted "penalties, attorneys' fees and costs" and made a related stylistic change.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-25 - Improvement district; title subject to redemption vests in trustee.

Upon the acceptance or purchase of the tract or parcel of land as provided in Sections 4-55A-23 and 4-55A-24 NMSA 1978, title to the tract or parcel of land, subject to the right of redemption provided by Subsection A of Section 4-55A-26 NMSA 1978, vests in the trustee of the fund from which the assignable certificates or bonds are payable.
History:
Laws 1980, ch. 91, § 25; 1991, ch. 199, § 47.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, substituted "Sections 4-55A-23 and 4-55A-24 NMSA 1978" for "Sections 23 and 24 of the County Improvement District Act", "provided by Subsection A of Section 4-55A-26 NMSA 1978" for "as now provided by law", and "assignable certificates or bonds" for "negotiable coupon bonds", and made a minor stylistic change.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-27 - Improvement district; assessment funds; expenditures; misuse; penalties.

A. All money received by the county from any special assessment or assessment within an improvement district shall be held in a special fund and used to:
(1) pay the cost of the improvement for which the assessment was made;
(2) reimburse the county for any work performed by the county in constructing the improvement and for administrative costs associated with the improvement district; or
(3) pay the interest and principal due on any outstanding bonds or assignable certificates.
B. Any person who uses money in an improvement district fund other than as provided in this section is guilty of a felony and shall be punished by a fine not exceeding one thousand dollars ($1,000) or by imprisonment in the state penitentiary for not more than two years or by both such fine and imprisonment in the discretion of the court.
History:
Laws 1980, ch. 91, § 27; 1991, ch. 199, § 49.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, in Subsection A, added "and for administrative costs associated with the improvement district" at the end of Paragraph (2), deleted "negotiable coupon" preceding "bonds" in Paragraph (3), and made a related stylistic change.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-28 - Transfer of improvement district funds.

The board may transfer to the general fund of the county any money obtained from the levy of an assessment for an improvement district if:
A. bonds or assignable certificates were issued to finance the improvement;
B. the proceeds of the bonds or assignable certificates were spent for the improvement;
C. the assessments were levied and collected for the payment of the bonds or assignable certificates; and
D. either the bondholders or assignable certificate holders are barred by the statute of limitations or a court judgment or decree from collecting the indebtedness; or
E. the bonded indebtedness or assignable certificates have been paid.
History:
Laws 1980, ch. 91, § 28; 1991, ch. 199, § 50.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, substituted "proceeds of" for "funds obtained by" in Subsection B and made minor stylistic changes.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-29 - Improvement district; reassessment after voiding of assessments; procedure.

A. It is the purpose of Sections 4-55A-29 through 4-55A-33 NMSA 1978 to:
(1) charge the cost of any improvement payable by the tract or parcel of land benefited by the improvement by making a reassessment for the cost of the improvement; and
(2) permit the making of a reassessment when an original assessment is declared void or the enforcement of the original assessment is refused by a court.
B. Whenever any assessment for improvements is declared void or unenforceable, either directly or indirectly, by a decision of any court for any cause whatever, the board shall reassess the tracts or parcels of land that are benefited or will be benefited by the improvement to the extent of the proportionate share of the cost of the improvement of each tract or parcel of land together with accrued interest.
C. The reassessment roll shall be prepared, a hearing held on the reassessment roll and a final determination of the reassessment made by the board, all in the manner provided in Sections 4-55A-18 through 4-55A-20 NMSA 1978 for the original assessment.
History:
Laws 1980, ch. 91, § 29; 1991, ch. 199, § 51.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, substituted "Sections 4-55A-29 through 4-55A-33 NMSA 1978" for "Sections 29 through 33 of the County Improvement District Act" in Subsection A; deleted the former second sentence in Subsection B which read "If the cost of the improvement exceeds the actual value of the improvement, the reassessment shall be based upon the actual value of the improvement at the time of its completion"; substituted "Sections 4-55A-18 through 4-55A-20 NMSA 1978" for "Sections 18 through 20 of the County Improvement District Act" in Subsection C; and made minor stylistic changes in Subsections B and C.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-30 - Improvement district; reassessment; defects waived; credit for previous payment.

A. The fact that:
(1) the contract has been let;
(2) an improvement has been wholly or partially constructed;
(3) an omission, failure or neglect of the board or county officer to comply with the requirements of Sections 1 through 20 [4-55A-1 to 4-55A-20 NMSA 1978] of the County Improvement District Act; or
(4) any other matter whatsoever connected with the improvement or initial assessment is invalid, shall not invalidate or in any way affect the making of a reassessment as authorized in Section 29 [4-55A-29 NMSA 1978] of the County Improvement District Act and charging the benefited tract or parcel of land the cost of the improvement.
B. When the reassessment is complete, any money paid on the former attempted assessment against a tract or parcel of land shall be credited to the tract or parcel of land in partial or whole payment of the reassessment.
History:
Laws 1980, ch. 91, § 30.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-31 - Improvement district; appeal to district court.

After an owner has filed a written objection with the county clerk to any reassessment as provided in Section 4-55A-18 NMSA 1978 and the board has determined the reassessment, any owner of a tract or parcel of land that is reassessed may file a notice of appeal pursuant to the provisions of Section 39-3-1.1 NMSA 1978.
History:
Laws 1980, ch. 91, § 31; 1998, ch. 55, § 17; 1999, ch. 265, § 17.
ANNOTATIONS
Cross references.
— For appeal of final decisions by agencies to district court,
see
39-3-1.1 NMSA 1978.
For procedures governing administrative appeals to the district court,
see
Rule 1-074 NMRA.
The 1999 amendment,
effective July 1, 1999, substituted "Section 39-3-1.1" for "Section 12-8A-1".
The 1998 amendment,
effective September 1, 1998, rewrote this section to the extent that a detailed comparison is impracticable.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-32 - Improvement district; payment of reassessment; continuing proceedings to collect assessment.

A. The board shall enforce payment of the reassessment of the tract or parcel of land benefiting from an improvement in the manner provided in Chapter 4, Article 55A NMSA 1978 for the enforcement of the original assessment.
B. If for any reason a reassessment is held to be invalid or uncollectible, the board shall continue to reassess the tract or parcel of land as provided in Sections 4-55A-29 through 4-55A-38 NMSA 1978 until the benefited tract or parcel of land has paid the cost of any improvement chargeable to the benefited tract or parcel of land.
History:
Laws 1980, ch. 91, § 32; 1991, ch. 199, § 52.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, substituted "Chapter 4, Article 55A NMSA 1978" for "Section 19 of the County Improvement District Act" in Subsection A and substituted "Sections 4-55A-29 through 4-55A-38 NMSA 1978" for "Sections 29 through 38 of the County Improvement District Act" in Subsection B.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-33 - Improvement district; appeal of reassessment; procedure exclusive.

A. The rights and remedies granted in Section 18 [4-55A-18 NMSA 1978] of the County Improvement District Act to any owner who objects, contests or appeals the amount, correctness, regularity or validity of the reassessment;
(1) are declared to exclude any other right, remedy, suit or action either at law or in equity which might otherwise be available; and
(2) do afford the owner a sufficient day in court for the redressing of all rights and grievances that he may have in connection with the reassessment.
B. Any person who fails to file an objection to a reassessment in the manner provided in Section 18 of the County Improvement District Act or fails to appeal to the district court in the manner provided in Section 31 [4-55A-31 NMSA 1978] of that act, is forever absolutely barred from objecting to or contesting the amount, correctness, regularity or validity of the reassessment.
History:
Laws 1980, ch. 91, § 33.
ANNOTATIONS
Compiler's notes.
— As amended by Laws 1998, ch. 55, § 17, effective September 1, 1998, 4-55A-31 NMSA 1978 no longer provides procedures for appeal of reassessments.
See
39-3-1.1 NMSA 1978 for current procedures.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-34 - Improvement district; application of reassessment fund to outstanding indebtedness.

A. Whenever a county has:
(1) issued bonds or assignable certificates to obtain money to pay for an improvement that has been constructed; and
(2) reassessed the tract or parcel of land benefiting from the improvement as provided in Sections 4-55A-26 through 4-55A-31 NMSA 1978; the county shall apply all money received from the payment of the reassessment to the payment of the bonds or assignable certificates.
B. Bonds or assignable certificates that have been issued to obtain money to pay for any improvement that has been constructed are:
(1) valid and binding obligations of the county; and
(2) payable from the payments received from any reassessment that shall be levied until all obligations of indebtedness of the improvement have been paid in full.
History:
Laws 1980, ch. 91, § 34; 1991, ch. 199, § 53.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, deleted "negotiable coupon" preceding "bonds" in two places in Subsection A and once in Subsection B; substituted "Sections 4-55A-26 through 4-55A-31 NMSA 1978" for "Sections 26 through 31 of the County Improvement District Act" in Paragraph (2) of Subsection A; and made minor stylistic changes in Subsection B.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-35 - Improvement district; refunding improvement bonds; authority.

A. As used in this section and in Sections 4-55A-36 through 4-55A-38 NMSA 1978 "bonds", when not modified by the word "refunding", includes assignable certificates.
B. The board may issue refunding improvement district bonds to refund all or any part of improvement district bonds. Refunding bonds may be issued:
(1) to change the payment schedule for the bonds;
(2) to fund principal and interest due on bonds that are in default or for which there is not and, in the opinion of the governing body, will not be sufficient money available to pay the principal and interest when due;
(3) to reduce interest costs on the bonds or on the assessments providing security for the bonds or to provide other savings;
(4) to modify or eliminate restrictive or burdensome contractural [contractual] limitations concerning the bonds;
(5) to provide enhanced or substitute security for the bonds; or
(6) to provide for any other reasonable and necessary purpose or any combination of the foregoing purposes.
History:
Laws 1980, ch. 91, § 35; 1991, ch. 199, § 54.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
The 1991 amendment,
effective April 4, 1991, rewrote this section which read "Whenever there is not, and it is certain there will not be, sufficient money in an improvement district fund to pay the principal and interest due on the improvement district bonds, the board may issue refunding improvement district bonds. If there is not sufficient money in an improvement district fund to pay in full the improvement district bonds that have matured, the board shall issue refunding improvement district bonds to pay the interest and principal on the improvement district bonds".
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-37 - Improvement district; ordinance for refunding bonds; conditions; sale or exchange.

A. The ordinance authorizing the issuance of refunding bonds for an improvement district shall describe the:
(1) details of the issue;
(2) form of the refunding bonds and interest coupons, if any;
(3) fund from which the principal and interest of the refunding bonds will be paid; and
(4) manner in which the bonds are to be issued.
B. The refunding bonds may:
(1) be issued in an amount less than, equal to or greater than the principal amount of improvement district bonds being refunded;
(2) not bear a rate of interest greater than the rate of interest borne by the assessments providing security for the refunding bonds if secured by assessments;
(3) become due and payable in regular numerical order;
(4) not be issued for a period of more than twenty years from the date of issuance; and
(5) be payable from substitute security or from the same funds that were applicable to the payment of the bonds being refunded.
C. The refunding bonds may be:
(1) sold at a public or private sale at a discount; or
(2) exchanged, dollar for dollar, for the improvement district bonds being refunded.
History:
Laws 1980, ch. 91, § 37; 1983, ch. 265, § 21; 1991, ch. 199, § 56.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, in Subsection B, substituted "may" for "shall" in the introductory phrase, rewrote Paragraph (1) which read "not be issued in an amount greater than the principal and accrued interest due on the improvement district bonds being refunded", substituted "assessments providing security for the refunding bonds if secured by assessments" for "bonds being refunded" at the end of Paragraph (2) and inserted "substitute security or from" in Paragraph (5) and, in Subsection C substituted "a public or private sale at a discount" for "not less than par" in Paragraph (1) and deleted a former sentence at the end of Paragraph (2) which read "If the refunding bonds are exchanged for the bonds being refunded, the lower numbered refunding bonds shall be exchanged for the lower numbered bonds being refunded so that the bondholder shall have relatively the same position in the refunding issue as he had in the outstanding bonds prior to the refunding".
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-38 - Improvement district; payment of assessment for refunding bond; maximum term; interest; prepayment; liens.

A. In connection with issuance of refunding bonds as provided in Sections 4-55A-35 through 4-55A-38 NMSA 1978, the board may by ordinance provide that any unpaid assessment and accrued interest on the assessment shall be paid in not more than twenty years with interest at a rate of interest not less than the rate borne by the refunding bonds and with the penalties as lawfully attached to the original assessment. The owner of a tract or parcel of land that is assessed may at any time pay the assessment in full with interest to the time of payment.
B. The assessment may be collected as provided in Section 4-55A-19 NMSA 1978, and the refunding bonds may be secured and enforced as the original lien was established as provided in that section.
History:
Laws 1980, ch. 91, § 38; 1991, ch. 199, § 57.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, in Subsection A, substituted "Sections 4-55A-35 through 4-55A-38 NMSA 1978" for "Sections 35 through 38 of the County Improvement District Act", "may by ordinance" for "shall by ordinance", "twenty years with interest at a rate of interest not less than the rate borne" for "twenty equal annual or forty semiannual installments with interest at the rate of interest borne" and made a minor stylistic change and, in Subsection B, substituted "may" for "shall" in two places and "Section 4-55A-19 NMSA 1978" for "Section 19 of the County Improvement District Act".
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-39 - Improvement district; construction of sections.

Nothing contained in Sections 4-55A-35 through 4-55A-38 NMSA 1978 shall be construed as:
A. increasing the burden or liability of any tract or parcel of land or the owner of any tract or parcel of land; or
B. except for issuance of the refunding bonds, creating any additional liability of the county.
History:
Laws 1980, ch. 91, § 39; 1991, ch. 199, § 58.
ANNOTATIONS
The 1991 amendment,
effective April 4, 1991, added "construction of sections" in the catchline; substituted "Sections 4-55A-35 through 4-55A-38 NMSA 1978" for "Sections 35 through 38 of the County Improvement District Act" in the introductory paragraph; redesignated former Paragraphs (1) and (2) of former Subsection A as Subsections A and B; added "except for the issuance of the refunding bonds" at the beginning of Subsection B; and deleted former Subsection B which read "The issuance of the refunding bonds shall not give any bondholder any greater right than he had prior to the refunding. The owners and holders of refunding bonds shall be subrogated to all the rights and remedies possessed by the owners and holders of the bonds refunded".
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-40 - Street and road improvement fund authorization.

In the case of creation of a county improvement district in accordance with the provisions of the County Improvement District Act, the board of county commissioners of any county may, by ordinance, establish a street and road improvement fund into which may be transferred all or any part of the distributions of such amounts of the tax revenues distributed to the county under the provisions of Section 7-1-6.9 NMSA 1978 as the board has, in any ordinance, determined necessary for use as a fund in the financing of improvement projects described in Subsection A of Section 4-55A-4 NMSA 1978.
History:
1978 Comp., § 4-55A-40, enacted by Laws 1991, ch. 199, § 59.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-41 - Street and road improvement fund; use.

Bonds or assignable certificates authorized in Section 4-55A-20 NMSA 1978 for the construction of a street, road, walkway, bridge, overpass, underpass, pathway, alley, curb, gutter or sidewalk project may be purchased by the street and road improvement fund; provided that the bonds or assignable certificates shall be held in trust by the county treasurer and any receipts from the sale of the bonds or assignable certificates or from the payment of the assessment made to pay the interest and principal of the bonds or assignable certificates shall be held in trust by the county treasurer, and any receipts from the sale of the bonds or assignable certificates or from the payment of the assessment made to pay the interest and principal of the bonds or assignable certificates shall be credited to the street and road improvement fund.
History:
1978 Comp., § 4-55A-41, enacted by Laws 1991, ch. 199, § 60.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-42 - Street and road improvement fund; repurchasing bonds or certificates; pledging income.

A. The board of county commissioners may, by ordinance approved by three-fourths of all the members of the board of county commissioners and irrepealable during the term of the contract and for a period not exceeding twenty-one years, contract:
(1) to repurchase bonds or assignable certificates authorized in Section 4-55A-20 NMSA 1978 for construction of a street, road, bridge, walkway, overpass, underpass, pathway, alley, curb, gutter or sidewalk project with the money in the street and road improvement fund; or
(2) to pledge the income of the street and road improvement fund to pay the interest and principal of bonds or assignable certificates when default in payment may occur by reason of nonpayment of any assessment levied for the payment of a street, road, bridge, walkway, overpass, underpass, pathway, alley, curb, gutter or sidewalk project authorized in the County Improvement District Act.
B. The county may anticipate the annual income to be received by the street and road improvement fund. The amount contracted or pledged to be expended each year as authorized in this section shall not exceed the amount that is accumulated in the street and road improvement fund.
C. The ordinance authorized in this section shall state that:
(1) all disbursements made pursuant to the contract shall be paid solely from the street and road improvement fund and from no other source;
(2) the obligations created by the contract are not general obligations of the county; and
(3) the contracting parties may not look to any other fund for the performance of the contractual obligation.
D. In the event of disbursement from the street and road improvement fund pursuant to the obligations created by the contract, the county shall be subrogated for the benefit of the street and road improvement fund to all the rights and remedies of the holders of the securities upon which payment is made.
History:
1978 Comp., § 4-55A-42, enacted by Laws 1991, ch. 199, § 61.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55A - County Improvement Districts › Section 4-55A-43 - Street and road improvement fund; diverting proceeds from tax.

After the adoption of the ordinance creating a contract as authorized in Section 4-55A-3 NMSA 1978 and so long as the contract is effective, it is unlawful:
A. to directly or indirectly divert any such amounts of tax revenue directed to be credited to the street and road improvement fund; and
B. without the written approval of the secretary of finance and administration, for the board or any county employee to expend any money from the street and road improvement fund for any purpose other than the performance of the contract.
History:
1978 Comp., § 4-55A-43, enacted by Laws 1991, ch. 199, § 62.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55B - Historic Building Improvement Act › Section 4-55B-2 - Definitions.

As used in the Historic Building Improvements Act:
A. "county" means an H class county;
B. "governing body" means the board of county commissioners of a county;
C. "historic building improvements" means any repair or maintenance to the exterior or any renovation or other improvement necessary to meet life safety codes of a publicly owned building entered in the state register of cultural properties or the national register of historic places; and
D. "taxable value of property" means the "net taxable value", as that term is defined in the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978], of property subject to taxation under the Property Tax Code.
History:
Laws 1993, ch. 52, § 2.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55B - Historic Building Improvement Act › Section 4-55B-3 - Authorization for a county to impose an historic building improvements tax; resolution; election required.

A. The governing body of a county may adopt a resolution authorizing the imposition of a property tax upon the taxable value of property in the county for the purpose of making historic building improvements. The total tax imposition that may be authorized under the Historical [Historic] Building Improvements Act shall not exceed a rate of one dollar ($1.00) on each one thousand dollars ($1,000) of taxable value of property in the county and shall be imposed for a period not to exceed four years.
B. The tax authorized pursuant to Subsection A of this section shall not be imposed unless the question of authorizing the imposition of the tax is submitted to the voters of the county.
C. The resolution adopted pursuant to Subsection A of this section shall specify:
(1) the rate of the proposed tax;
(2) the date an election will be held to submit the question of imposition of the tax to the voters of the county;
(3) the period of time the tax is authorized to be imposed; and
(4) the proposed use of the revenues from the proposed tax.
History:
Laws 1993, ch. 52, § 3.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not a part of the law.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55B - Historic Building Improvement Act › Section 4-55B-4 - Conduct of election; ballot.

A. The question of authorizing the imposition of a tax under the Historic Building Improvements Act shall be submitted to voters of the county at any general election or special election called for that purpose following the adoption of a resolution pursuant to the Historic Building Improvements Act.
B. The proclamation calling the election shall be filed and published as required pursuant to the provisions of the Election Code [Chapter 1 NMSA 1978] and shall specify:
(1) the date on which the election will be held;
(2) the question that will be put to the voters;
(3) the precincts in the county, the location of each polling place and the hours the polling places will be open; and
(4) the date and time of the closing of the registration books by the county clerk as required by law.
C. The question on the ballot shall read:
"______ For the imposition of an historic building improvements tax at a rate of _______ dollars on each one thousand dollars ($1,000) of taxable value of property in the county for a period of __________________ years; or
______ Against the imposition of an historic building improvements tax at a rate of ________________ dollars on each one thousand dollars ($1,000) of taxable value of property in the county for a period of _____________ years".
D. The election shall be conducted and canvassed pursuant to the provisions of the Election Code.
History:
Laws 1993, ch. 52, § 4.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55B - Historic Building Improvement Act › Section 4-55B-5 - Imposition of tax; certification by department of finance and administration; discontinuance of tax.

A. If a majority of the voters voting on the question votes for the historic building improvements tax pursuant to a resolution adopted under the Historic Building Improvements Act, the tax shall be imposed for the earliest property tax year for which the tax rate may be certified. The governing body of the county shall notify the department of finance and administration of the results of the election immediately upon completion of the canvass. The tax rate shall be certified by the department of finance and administration and imposed, administered and collected in accordance with the provisions of the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978].
B. If a majority of the voters voting on the question votes against the historic building improvements tax, the tax shall not be imposed. The county shall not adopt another resolution authorizing the imposition of a tax under the Historic Building Improvements Act for at least one year after the date of the resolution that the voters rejected.
C. The governing body of the county may adopt a resolution discontinuing the imposition of the tax authorized and imposed pursuant to the Historic Building Improvements Act. The discontinuance resolution shall be mailed to the department of finance and administration no later than June 15 of the year in which a tax rate pursuant to that act is not to be certified.
History:
Laws 1993, ch. 52, § 5.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55C - Solar Energy Improvement Special Assessment (Repealed.) › Section 4-55C-1 - Repealed.

History:
Laws 2009, ch. 270, § 1; 2019, ch. 110, § 2; repealed by Laws 2023, ch. 150, § 11.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 150, § 11 repealed 4-55C-1 NMSA 1978, as enacted by Laws 2009, ch. 270, § 1, relating to short title, effective June 16, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55C - Solar Energy Improvement Special Assessment (Repealed.) › Section 4-55C-2 - Repealed.

History:
Laws 2009, ch. 270, § 2; repealed by Laws 2023, ch. 150, § 11.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 150, § 11 repealed 4-55C-2 NMSA 1978, as enacted by Laws 2009, ch. 270, § 2, relating to definitions, effective June 16, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55C - Solar Energy Improvement Special Assessment (Repealed.) › Section 4-55C-3 - Repealed.

History:
Laws 2009, ch. 270, § 3; 2019, ch. 110, § 3; repealed by Laws 2023, ch. 150, § 11.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 150, § 11 repealed 4-55C-3 NMSA 1978, as enacted by Laws 2009, ch. 270, § 3, relating to ordinance imposing solar energy improvement special assessment, effective June 16, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55C - Solar Energy Improvement Special Assessment (Repealed.) › Section 4-55C-4 - Repealed.

History:
Laws 2009, ch. 270, § 4; repealed by Laws 2023, ch. 150, § 11.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 150, § 11 repealed 4-55C-4 NMSA 1978, as enacted by Laws 2009, ch. 270, § 4, relating to implementation of solar energy improvement special assessment, effective June 16, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55C - Solar Energy Improvement Special Assessment (Repealed.) › Section 4-55C-5 - Repealed.

History:
Laws 2009, ch. 270, § 5; repealed by Laws 2023, ch. 150, § 11.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 150, § 11 repealed 4-55C-5 NMSA 1978, as enacted by Laws 2009, ch. 270, § 5, relating to solar energy improvement special assessment, amount, collection, lien created, effective June 16, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55C - Solar Energy Improvement Special Assessment (Repealed.) › Section 4-55C-6 - Repealed.

History:
Laws 2009, ch. 270, § 6; repealed by Laws 2023, ch. 150, § 11.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 150, § 11 repealed 4-55C-6 NMSA 1978, as enacted by Laws 2009, ch. 270, § 6, relating to solar energy improvement special assessment, disbursement of proceeds, effective June 16, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55C - Solar Energy Improvement Special Assessment (Repealed.) › Section 4-55C-7 - Repealed.

History:
Laws 2009, ch. 270, § 7; repealed by Laws 2023, ch. 150, § 11.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 150, § 11 repealed 4-55C-7 NMSA 1978, as enacted by Laws 2009, ch. 270, § 7, relating to solar energy improvement financing institutions, certification of qualified entities, effective June 16, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55C - Solar Energy Improvement Special Assessment (Repealed.) › Section 4-55C-8 - Repealed.

History:
Laws 2009, ch. 270, § 8; repealed by Laws 2023, ch. 150, § 11.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 150, § 11 repealed 4-55C-8 NMSA 1978, as enacted by Laws 2009, ch. 270, § 8, relating to additional criteria prohibited, effective June 16, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55C - Solar Energy Improvement Special Assessment (Repealed.) › Section 4-55C-9 - Repealed.

History:
Laws 2019, ch. 110, § 4; repealed by Laws 2023, ch. 150, § 11.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 150, § 11 repealed 4-55C-9 NMSA 1978, as enacted by Laws 2019, ch. 110, § 4, relating to third-party administrator, effective June 16, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55D - Improvement Special Assessment › Section 4-55D-1 - Short title.

This act [4-55D-1 to 4-55D-10 NMSA 1978] may be cited as the "Improvement Special Assessment Act".
History:
Laws 2023, ch. 150, § 1.
ANNOTATIONS
Effective dates.
— Laws 2023, ch. 150 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 2023, 90 days after adjournment of the legislature.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55D - Improvement Special Assessment › Section 4-55D-3 - Ordinance establishing the program.

The board of county commissioners of a county may by county ordinance establish a program. The county ordinance may apply within the boundaries of a municipality in a county if the municipality adopts a resolution or ordinance approving the application of the county's ordinance within the municipality. The county ordinance shall be substantively in the form set forth in the program guidebook and shall:
A. include a statement that the financing of eligible improvements, repaid by special assessments on eligible property benefited by such improvements, is in the interest of public health, safety and welfare;
B. designate the region in which owners of eligible property may finance eligible improvements pursuant to the Improvement Special Assessment Act; a county may designate more than one region and if multiple regions are designated, the regions may be separate, overlapping or coterminous;
C. incorporate by reference the program guidebook, notwithstanding that a county adopting a program pursuant to the Improvement Special Assessment Act may narrow the definition of eligible improvements to be consistent with the county's climate goals;
D. authorize and direct a county official to enter into special assessment agreements with property owners and capital providers and issue special assessment assignable certificates on behalf of the county to impose special assessments and assign special assessment liens for assessments approved by the program administrator pursuant to this section;
E. authorize direct financing between an eligible property owner and a capital provider to finance eligible improvements;
F. designate a program administrator; and
G. require that the interest rate, delinquent interest, penalties, terms of prepayment and other terms of a special assessment shall be established by a capital provider in the related special assessment financing agreement for such assessment.
History:
Laws 2023, ch. 150, § 3.
ANNOTATIONS
Effective dates.
— Laws 2023, ch. 150 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 2023, 90 days after adjournment of the legislature.
2023 New Mexico Statutes › Chapter 4 - Counties › Article 55D - Improvement Special Assessment › Section 4-55D-5 - Imposition of special assessment; amount; collection; special assessment lien created.

A. Upon entering into a special assessment agreement, the county shall record a special assessment lien on the subject property in the real property records of the county in which the property is located.
B. The recording of the lien pursuant to Subsection A of this section shall include:
(1) the legal description of the property;
(2) the county assessor's parcel number of the property;
(3) the grantor's name, which shall be the same as the property owner on the special assessment agreement;
(4) the grantee's name, which shall be the county in which the property is located;
(5) the date on which the special assessment lien was created;
(6) the principal amount of the special assessment lien;
(7) the terms and length of the special assessment lien; and
(8) a copy of the special assessment agreement.
C. A special assessment lien shall be effective during the period in which the special assessment is imposed and shall have priority superior to all liens, claims and titles except a lien for general ad valorem property taxes or an improvement district lien that is coequal to property taxes.
D. A special assessment lien runs with the land, and that portion of the special assessment lien that has not yet become due is not accelerated or eliminated by foreclosure of the special assessment lien or any lien for taxes or assessments imposed by the state, a local government or taxing district against the property on which the special assessment lien is imposed.
E. Upon entering into a special assessment agreement, the county shall execute and record a special assessment assignable certificate from the county to the appropriate capital provider. The special assessment assignable certificate shall convey the special assessment lien including all of the characteristics described in Subsection B of this section. The holder of the special assessment assignable certificate shall be solely responsible for the billing and collection of the related special assessment and for the enforcement of the special assessment lien.
F. When the underlying special assessment financing has been satisfied, the special assessment shall be removed from the property and the county shall record a release of the special assessment lien.
History:
Laws 2023, ch. 150, § 5.
ANNOTATIONS
Effective dates.
— Laws 2023, ch. 150 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 2023, 90 days after adjournment of the legislature.