A. Any surplus funds in the treasury of the district may be used for retiring bonds, reducing the rate of assessment or for accomplishing any other of the legitimate objects of the district. B. At least once a year, or oftener if the court shall so order, the board shall make a report to the […]
A. Each member of the board of directors shall receive five ($5.00) dollars per day and his necessary expenses for the time actually employed in the performance of his duties. B. Each appraiser shall receive ten ($10.00) dollars per day and his expenses for the time actually employed in the performance of his duties. C. […]
A. In order to facilitate the preliminary work, the board may borrow money at a rate of interest not exceeding eight (8%) percent per annum, and as evidence of the debt so contracted, may issue and sell or may issue to contractors or others, negotiable evidences of debt (herein called warrants), and may pledge the […]
That conservancy districts heretofore or hereafter created under New Mexico statutes be and hereby are authorized to levy an assessment of not to exceed 10% of the special benefits confirmed and approved for the purpose of conserving and developing the resources thereof, servicing outstanding bonds or obligations of such districts and for other purposes under […]
Said special assessment shall be known as the “conservation and development fund assessment”; [it] shall be made by resolution of the board and duly extended on the proper district and tax records in like manner and in accordance with the same procedure as the construction fund assessment under the provisions of the Conservancy Act of […]
In addition to the separate funds provided for under Section 501, Subsection 1 [73-16-1 A NMSA 1978] of Article V of the Conservancy Act [of New Mexico], there is hereby created a separate fund to be known as the “conservation and development fund,” by which shall be meant the proceeds of a special levy hereby […]
That conservancy districts heretofore or hereafter organized under the provisions of the Conservancy Act of New Mexico, subsequent to the passage of a resolution authorizing the conservation and development fund assessment, may issue additional bonds to be known as “conservancy bonds – conservation and development issue” which bonds shall be in similar or like form […]
The bonds authorized under the provisions hereof shall bear a rate of interest not exceeding 6%, and the same may be sold to the United States government, the reconstruction finance corporation or any federal or state governmental agency without advertisement. History: Laws 1935, ch. 37, § 5; 1941 Comp., § 77-2933; 1953 Comp., § 75-30-33. […]
The bonds herein authorized shall be entitled to all the privileges of tax exemption and be eligible for the investment of state funds in like manner as provided for conservancy bonds under the provisions of Sections 507 and 508 [73-16-8, 73-16-9 NMSA 1978] of the Conservancy Act [of New Mexico]. History: Laws 1935, ch. 37, […]
Securities authorized to be issued under provisions hereof may be issued in an amount not exceeding 10% of the benefits confirmed and approved in accordance with Articles IV and V of the Conservancy Act [of New Mexico] and the proceeds upon the sale, exchange or delivery thereof shall be devoted to conserving and developing the […]
All of the provisions of Article V of the Conservancy Act of New Mexico relating to the manner of filing, extension on district or tax records, issuance, payment, financial administration and other clauses of the Conservancy Act pertaining to the construction fund assessment or the issuance of bonds and the payments therefor and thereon; the […]
The securities authorized to be issued hereunder shall be serial in form and the entire issue of said conservation and development fund bonds so serially to be issued shall begin to mature within five years after the issuance thereof and a like amount as near as may be of principal and interest shall fall due […]
The bonds authorized to be issued under the terms hereof shall not in any manner impair the original construction fund bond issue, but shall be considered as additional securities authorized to be issued by conservancy districts, and full legislative authority is hereby granted to said districts to sell tax anticipation bonds, refunding bonds, debentures and […]
A. After the list of property, with the appraised benefits as approved by the court, or that part thereof from which no appeal is pending, has been filed with the secretary, then from time to time, as the affairs of the district may demand, the board shall levy on all property upon which benefits have […]
All provisions of the original Conservancy Act of New Mexico conflicting herewith or limiting the power of conservancy district to issue or sell negotiable securities conforming to the provisions of this act [73-16-30 to 73-16-40 NMSA 1978] are to that extent repealed, but no remaining provisions of said Conservancy Act, otherwise than necessary to conform […]
That conservancy districts heretofore or hereafter organized under the Conservancy Act of New Mexico [73-14-3 NMSA 1978], be and they hereby are authorized and directed, in addition to the separate funds now provided for, to establish in the manner hereinafter set forth a “guaranty fund” for the purpose of guaranteeing the prompt payment of the […]
That for the establishment and maintenance of such guaranty fund, the board of commissioners or directors of any such district be and they hereby are authorized and directed annually to levy a tax, in addition to all other taxes, upon the real property within such district subject to general taxation for state and county purposes, […]
The tax for such guaranty fund shall be levied by resolution of the board; shall be known as the guaranty fund levy; and the amount of such levy upon the property subject thereto shall be certified and extended as in the case of other levies for state and county taxes. Said amount shall be collected […]
The entire proceeds from such guaranty fund levy shall be deposited by the treasurer of such conservancy district in a separate fund to be known as the guaranty fund, and so long as any bonded indebtedness of such district remains outstanding and unpaid, the guaranty fund may be used only to pay the principal of […]
The treasurer of any such district shall, when directed by resolution of the board, invest such guaranty fund, and the income thereof, in the United States government bonds or municipal bonds approved for savings bank investment in the states of New York and Massachusetts, so that the same may always be readily convertible into cash […]
