New Mexico § 3-4-9 Disincorporation; insufficient income to pay obligations; levy

New Mexico Statutes

§ 3-4-9 — Disincorporation; insufficient income to pay obligations; levy

New Mexico § 3-4-9

Ch. 3Municipalities

Art. 4Disincorporation of Municipality

This text of New Mexico § 3-4-9 (Disincorporation; insufficient income to pay obligations; levy) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 3-4-9 (2026).

Text

of tax; duty vested in board of county commissioners. If insufficient money is received from the operation of the property of the disincorporated municipality to pay the obligations in the order designated in Section 3- 4-8 NMSA 1978, the board of county commissioners shall levy a tax on all taxable property within the boundary of the municipality at the time of its disincorporation. This tax shall be sufficient to pay the obligations incurred in the operation of the property of the municipality and to comply with the terms and conditions of the evidences of the bonded indebtedness. The board of county commissioners shall, without charge, perform the duties of the governing body of the disincorporated municipality to satisfy the terms of the bonds, obligations or contracts of the disincorp

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of tax; duty vested in board of county commissioners. If insufficient money is received from the operation of the property of the disincorporated municipality to pay the obligations in the order designated in Section 3- 4-8 NMSA 1978, the board of county commissioners shall levy a tax on all taxable property within the boundary of the municipality at the time of its disincorporation. This tax shall be sufficient to pay the obligations incurred in the operation of the property of the municipality and to comply with the terms and conditions of the evidences of the bonded indebtedness. The board of county commissioners shall, without charge, perform the duties of the governing body of the disincorporated municipality to satisfy the terms of the bonds, obligations or contracts of the disincorporated municipality.