Section 72-14-25 – [Adjustment of plans and operations to facilitate federal aid to project.]
For the purpose of obtaining financial aid from the United States of America, the commission may adjust the plans and operation of any project, created under this act [72-14-9 to 72-14-23, 72-14-25 to 72-14-28 NMSA 1978], to conform to the laws and regulations of the federal government and the supervision of any board, bureau or […]
Section 72-14-26 – Disposition of water for public, domestic, industrial and other uses; reconveyance to grantors.
In addition to the powers conferred upon the commission to sell, lease and otherwise dispose of waters for the purpose of irrigation, development of power, watering of stock or other purposes, the commission shall have power to sell, lease and otherwise dispose of waters from its waterworks systems for public, domestic, industrial and other uses […]
Section 72-14-27 – [Liberal construction of act.]
This act [72-14-9 to 72-14-23, 72-14-25 to 72-14-28 NMSA 1978], being necessary for the welfare of the state and its citizens, shall be liberally construed to effect the purposes hereof. History: 1953 Comp., § 75-34-26, enacted by Laws 1955, ch. 266, § 18. ANNOTATIONS Loan to an artesian conservancy district of funds which would in […]
Section 72-14-28 – [Powers of state agencies and subdivisions to contract with federal government respecting water projects.]
In addition to powers now vested by law in them, conservancy districts, water and sanitation districts, irrigation districts, departmental agencies or political subdivisions of the state, drainage districts and similar organizations, organized under the laws of New Mexico, are authorized to enter into agreements with the president of the United States, any department, board or […]
Section 72-14-14 – Revenues from bonds to be applied to cost of projects and associated expenses.
All money received from any bonds issued pursuant to Sections 72-14-9 through 72-14-28 NMSA 1978 shall be applied solely to the payment of the cost of the project or to the appurtenant debt service fund, and there is created and granted a lien upon such money until so applied in favor of the holders of […]
Section 72-14-15 – Funds established.
The commission shall create three separate funds in respect of the bonds of each series: one fund to be known as the “project fund, series ______________”; another fund to be known as the “income fund, series ______________”; and another fund to be known as the “debt service fund, series ______________”; each fund to be identified […]
Section 72-14-16 – Bond proceeds to be appropriately credited.
The proceeds of the bonds of each series issued under the provisions of Sections 72-14-9 through 72-14-28 NMSA 1978 shall be placed to the credit of the appropriate project fund, which fund shall be kept segregated and set apart from all other funds. There shall be credited to the appropriate debt service fund all accrued […]
Section 72-14-17 – Commission to set prices, rates or charges; contracts; disposition of property.
A. The commission is authorized, subject to the provisions of Sections 72-14-9 through 72-14-28 NMSA 1978, to fix and establish the prices, rates and charges at which the resources and facilities made available under the provisions of those sections shall be sold and disposed of; to enter into contracts and agreements, and to do things […]
Section 72-14-18 – Debt service fund; payments into fund; fund pledged for payment of interest, fiscal charges and repayment of principal.
The commission shall provide, in the proceedings authorizing the issuance of each series of bonds, for the paying into the appropriate debt service funds at stated intervals money from other revenues pledged to repay the bonds or all money then remaining in the income fund, after paying all cost of operation, maintenance and repairs of […]
Section 72-14-19 – Permanent reservoirs for irrigation purposes income fund; Rio Grande income fund; appropriation.
Each year’s income credited to the permanent reservoirs for irrigation purposes income fund and the improvement of Rio Grande income fund may be pledged irrevocably to the payment of the principal of and interest on revenue bonds by the commission with the approval of the state board of finance, and there are irrevocably appropriated to […]