In the event of any default in the payment of the interest or principal of any bonds issued, and if the said district or its proper officers shall fail or neglect to enforce the payment of any unpaid assessment, the holder of such bonds may, for himself and for the benefit of all others similarly situated, enforce the said liens by suit or action against the land or lands, property or properties, on which such assessment has not been paid, and against the said district; or may apply for the appointment of a receiver to collect the assessment and enforce the liens aforesaid; and the proceeds of such assessments and collections shall be applied, after payment of costs, first to overdue interest, and then to payment pro rata of all bonds issued by the said board which are then due and payable; and the said receiver may be directed by suit to foreclose the lien of said assessments on said property and the suits so brought by the receiver shall be conducted in all matters as suits for the collection of debts and foreclosure of liens under mortgages and trust deeds, and the decrees in such suits and the deeds issued pursuant thereto, shall have the same presumption in their favor; provided, however, that when all such sums have been paid, the receiver shall be discharged, and the affairs of the district conducted by the board as hereinbefore provided.

In any special proceeding commenced under the provisions of this section, the district, and all land and all property or properties on which assessments have not been paid, may be made joint defendants, but separate judgments shall be entered and enforced.

History: Laws 1927, ch. 45, § 521; C.S. 1929, § 30-521; 1941 Comp., § 77-2921; 1953 Comp., § 75-30-21.

Cross references. — For public lands not to be sold for assessments, see 73-17-14 NMSA 1978.