Section 72-4-5 – [Water revenue bonds; security; restrictions and limitations.]
The principal of and interest on any bonds issued under the authority of this 1959 act [72-4-2 to 72-4-12 NMSA 1978] shall be secured by a pledge of the revenues out of which such bonds shall be made payable, and may be secured by a mortgage covering all or any part of the system from […]
Section 72-4-6 – [Determinations and findings prior to supplying water.]
Prior to supplying any water, the board of county commissioners must determine and find the following: the amount necessary in each year to pay the principal of and the interest on the water revenue bonds proposed to be issued to finance such system; the amount necessary to be paid each year into any reserve funds […]
Section 72-4-7 – [Sale of water revenue bonds; application of proceeds; cost of acquiring system.]
The proceeds from the sale of any water revenue bonds issued under authority of this 1959 act [72-4-2 to 72-4-12 NMSA 1978] shall be applied only for the purpose for which the bonds were issued; provided, however, that any accrued interest and premiums received in any such sale shall be applied to the payment of […]
Section 72-4-8 – Water system cost paid from bond proceeds only.
No county that undertakes to acquire or establish a water supply system under the authority of Sections 72-4-2 through 72-4-12 NMSA 1978 shall have the power to pay out of its general funds or otherwise contribute any part of the costs of acquiring a water supply system. The entire cost of acquiring the system shall […]
Section 72-4-9 – [Water revenue bonds shall be legal investments.]
Water revenue bonds issued under the provisions of this 1959 act [72-4-2 to 72-4-12 NMSA 1978] shall be legal investments for savings banks and insurance companies organized under the laws of this state. History: 1953 Comp., § 75-4-1.8, enacted by Laws 1959, ch. 286, § 8.
Section 72-4-10 – [Water revenue bonds, income, security instruments, agreements and revenue exempt from taxation.]
The water revenue bonds authorized by this 1959 act [72-4-2 to 72-4-12 NMSA 1978] and the income from the water revenue bonds, all mortgages or other security instrument executed as security for the water revenue bonds, all agreements made pursuant to the provisions hereof and revenue derived therefrom by the county shall be exempt from […]
Section 72-4-1 – County drains; duty of state engineer; preliminary surveys; eminent domain; surveys on private property; damage.
When requested by any of the boards of county commissioners of any of the counties of the state, it is the duty of the state engineer, either himself or by an authorized assistant engineer, to cooperate with the county commissioners in the engineering work required to lay out, establish and construct any drain to be […]
Section 72-4-2 – [Authority to acquire water rights for development of county water supply system.]
Each board of county commissioners of any of the several counties of the state, in addition to all other powers vested in it, is empowered to acquire, by purchase or exchange upon such terms and conditions and in such manner as a commission may deem proper and to acquire by condemnation in accordance with and […]
Section 72-4-3 – [Authority to establish county water supply system; purpose.]
The board of county commissioners of any county may under the provisions of this 1959 act [72-4-2 to 72-4-12 NMSA 1978], establish a county water supply system, which shall be located within this state and within the county, for the purpose of supplying water to the inhabitants of unincorporated communities of the county for domestic […]
Section 72-4-4 – Water revenue bonds; limitations; conditions of issuance.
The board of county commissioners in each county within the state is authorized to issue water revenue bonds of the county for the purpose of paying the cost of property acquired under the provisions of Sections 72-4-2 through 72-4-12 NMSA 1978 and for the construction of a water supply system. Bonds issued by a county […]