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 […]
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 […]
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 […]
A. Whenever the board determines that the creation of an improvement district is necessary for the public safety, health or welfare, the board may create an improvement district for any one or any combination of projects authorized in the County Improvement District Act by the: (1) provisional order method; or (2) petition method. B. The […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
A. Refunding bonds issued pursuant to Sections 4-55A-35 through 4-55A-38 NMSA 1978 shall be authorized by ordinance. Any bonds that are refunded under the provisions of this section shall be paid at maturity or on any permitted prior redemption date in the amounts at the time and places and, if called prior to maturity, in […]
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 […]
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 […]
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, […]
An improvement district may be created as authorized in the County Improvement District Act in order to construct, acquire, repair or maintain in one or more locations any one or any combination of the following projects, including land served by any project and any right of way, easement or privilege appurtenant or related thereto: A. […]
An improvement district may also be created as authorized in Chapter 4, Article 55A NMSA 1978 in order to construct, repair or maintain improvements in one or more locations as a means to stimulate manufacturing, industrial, commercial or business development or to construct or acquire, repair, operate and maintain one or more of the following […]
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 […]
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 […]
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 […]
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 […]
