New Mexico § 73-11-17 [Insufficiency of funds from local improvement district;

New Mexico Statutes

§ 73-11-17 — [Insufficiency of funds from local improvement district;

New Mexico § 73-11-17

Ch. 73Special Districts

Art. 11Irrigation Districts Cooperating with United States

This text of New Mexico § 73-11-17 ([Insufficiency of funds from local improvement district;) 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. § 73-11-17 (2026).

Text

liability of district at large.] In the event of the failure of the lands within the local improvement district to furnish money sufficient for the payment of principal or interest of the certificates of indebtedness for such local improvement work, and in case of a default in the payment of principal and interest, as aforesaid, the amount delinquent shall be paid by the general warrant of the irrigation district at large, but the lands of the local improvement district shall not thereby become released from liability for special assessment therefor. Such certificates of indebtedness, if issued, shall be redeemed as soon as there shall be available for that purpose money in the construction fund of the local improvement district.

Free access — add to your briefcase to read the full text and ask questions with AI

liability of district at large.] In the event of the failure of the lands within the local improvement district to furnish money sufficient for the payment of principal or interest of the certificates of indebtedness for such local improvement work, and in case of a default in the payment of principal and interest, as aforesaid, the amount delinquent shall be paid by the general warrant of the irrigation district at large, but the lands of the local improvement district shall not thereby become released from liability for special assessment therefor. Such certificates of indebtedness, if issued, shall be redeemed as soon as there shall be available for that purpose money in the construction fund of the local improvement district.