municipal participation; indebtedness authorized.
A.If two or more counties shall, through their respective county commissioners, deem it advisable to construct, purchase, renovate, remodel, equip, re-equip, maintain or operate a hospital and to acquire the land necessary therefor for the benefit jointly of such counties, the counties jointly shall have the powers and authorities in the Hospital Funding Act granted to any individual county and may issue general obligation bonds in the manner provided in Chapter 4, Article 49 NMSA 1978, and revenue bonds issued pursuant to the Hospital Funding Act shall be bonds of the respective counties issued according to the proportions of their populations as shown in the last census, and such hospital may be located at any point in any of the countie
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municipal participation; indebtedness authorized. A. If two or more counties shall, through their respective county commissioners, deem it advisable to construct, purchase, renovate, remodel, equip, re-equip, maintain or operate a hospital and to acquire the land necessary therefor for the benefit jointly of such counties, the counties jointly shall have the powers and authorities in the Hospital Funding Act granted to any individual county and may issue general obligation bonds in the manner provided in Chapter 4, Article 49 NMSA 1978, and revenue bonds issued pursuant to the Hospital Funding Act shall be bonds of the respective counties issued according to the proportions of their populations as shown in the last census, and such hospital may be located at any point in any of the counties as may be determined by agreement of the county commissioners of the respective counties. B. One or more counties may enter into an agreement with a municipality located in a county entering into an agreement for the construction, purchase, renovation, remodeling, equipping, re-equipping, maintenance or operation of a jointly owned county-municipal hospital and the acquisition of land necessary therefor or any combination of the foregoing purposes, and such hospital may be located at any point in any of the counties or within the participating municipality as may be determined by agreement of the county commissioners of the respective counties and the governing body of the participating municipality. C. The county or counties entering into an agreement with a municipality are authorized to issue, separately, general obligation bonds in the manner provided in Chapter 4, Article 49 NMSA 1978 for the purpose of constructing, purchasing, renovating, remodeling, equipping or re-equipping a jointly owned county-municipal hospital and for the acquisition of land necessary therefor, or any combination of the foregoing purposes. The municipality entering into an agreement with one or more counties is authorized to issue, separately, for such purposes, in the manner provided by law, general obligation bonds or revenue bonds as provided under Section 3-44-2 NMSA 1978. D. Any general obligation bonds or revenue bonds issued pursuant to the Hospital Funding Act shall be bonds of the respective counties and the participating municipality issued according to the proportions of their populations as shown in the last census; provided, however, that the population of the county in which the participating municipality is located shall be reduced for the purpose of determining the amount of bonds to be issued by the county and municipality by the population of the participating municipality or a percentage thereof as determined by agreement of the county commissioners of the county and the governing body of the municipality.