Said special assessment shall be known as the "conservation and development fund assessment"; [it] shall be made by resolution of the board and duly extended on the proper district and tax records in like manner and in accordance with the same procedure as the construction fund assessment under the provisions of the Conservancy Act of New Mexico [73-14-3 NMSA 1978]. A complete record in duplicate shall be kept of the conservation and development fund assessment similar to the records and extension thereof required to be made for the construction fund assessment, and said conservation and development fund assessment may, by sufficient columns provided therefor, be recorded on the same books as the construction fund assessment record, or in such manner as shall be most convenient for the proper recording thereof.
Under the terms of a resolution levying and extending said conservation and development fund assessment, principal payments thereon by the property owners shall commence to be paid within five years from the date thereof, and be apportioned over the remainder of the life of the conservancy bonds theretofore issued, but like opportunity shall be given the property owners to pay said assessment in cash as provided for in the case of the construction fund assessment under the Conservancy Act; and nothing herein contained shall impair the right of said districts in the making of annual levies for construction fund and maintenance fund assessments to levy sufficient amounts as may be necessary to service all of the outstanding obligations of said district, including interest and principal as needed to pay and discharge those authorized under the provisions hereof, at the time and in the manner prescribed for annual levies under Section 514 [73-16-15 NMSA 1978] of the Conservancy Act.
History: Laws 1935, ch. 37, § 2; 1941 Comp., § 77-2930; 1953 Comp., § 75-30-30.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Compiler's notes. — For the meaning of "Conservancy Act", see compiler's notes following 73-14-1 NMSA 1978.
Cross references. — For construction fund assessment, see 73-16-4, 73-16-6 NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 45 Am. Jur. 2d Irrigation §§ 70 to 72.
52A C.J.S. Levees and Flood Control §§ 28 to 39; 94 C.J.S. Waters §§ 332 to 337.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.