A. Upon the failure of any municipality coming within the provisions of Sections 3-23-4, 3-23-7, 3-23-8 and 3-23-9 NMSA 1978, to comply with the provisions of these sections, the district court may at the suit of any resident taxpayer of the municipality appoint a receiver for the municipal utility. Under the court's direction, the receiver shall operate the municipal utility to accomplish the objectives and purposes of Sections 3-23-4, 3-23-7, 3-23-8 and 3-23-9 NMSA 1978.
B. No person shall be appointed a receiver unless he:
(1) has been an actual resident in good faith of the municipality for not less than one year prior to the date of his appointment; and
(2) is a taxpayer and owner of real estate of the value of at least five hundred dollars ($500) within the municipality. Upon petition to remove the receiver signed by not less than fifty-one percent of the qualified electors who are taxpayers resident within the municipality, the district court shall remove the receiver. A receiver shall act until discharged by the district court.
History: 1953 Comp., § 14-22-7, enacted by Laws 1965, ch. 300.
Cross references. — For management and operation of property of municipality upon disincorporation of municipality, see 3-4-7 NMSA 1978.
Structure New Mexico Statutes
Section 3-23-2 - Election on question of acquiring utility.
Section 3-23-3 - Municipal utility; approval of New Mexico public utility commission.
Section 3-23-4 - Municipal utility; use of revenue.
Section 3-23-5 - Municipal utility; duty to maintain and improve.
Section 3-23-5.1 - Municipal utility permanent fund.
Section 3-23-7 - Appointment of receiver; qualifications; powers.
Section 3-23-8 - Municipal utility; receiver's certificates.
Section 3-23-9 - Municipal utility; levy and collection of taxes not terminated by receivership.
Section 3-23-10 - Municipal utility; board of utility commissioners.