New Mexico § 5-20-10 Dissolution

New Mexico Statutes

§ 5-20-10 — Dissolution

New Mexico § 5-20-10

Ch. 5Municipalities and Counties

Art. 20Regional Air Center Special Economic District

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Bluebook

N.M. Stat. Ann. § 5-20-10 (2026).

Text

The municipality and county that formed the district and any counties, municipalities, Indian nations, tribes or pueblos that have become part of the district may, by unanimous vote, agree to unwind and dissolve the district and dismiss the authority members if they find the district is not meeting the needs of the community in managing airport operations, creating jobs or fostering economic development. The assets and all debts and obligations of the district shall be transferred to and assumed by the county or municipality as set forth in the unwinding or dissolution agreement.

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The municipality and county that formed the district and any counties, municipalities, Indian nations, tribes or pueblos that have become part of the district may, by unanimous vote, agree to unwind and dissolve the district and dismiss the authority members if they find the district is not meeting the needs of the community in managing airport operations, creating jobs or fostering economic development. The assets and all debts and obligations of the district shall be transferred to and assumed by the county or municipality as set forth in the unwinding or dissolution agreement.