Upon the acceptance or purchase of the tract or parcel of land as provided in Sections 4-55A-23 and 4-55A-24 NMSA 1978, title to the tract or parcel of land, subject to the right of redemption provided by Subsection A of Section 4-55A-26 NMSA 1978, vests in the trustee of the fund from which the assignable certificates or bonds are payable.
History: Laws 1980, ch. 91, § 25; 1991, ch. 199, § 47.
The 1991 amendment, effective April 4, 1991, substituted "Sections 4-55A-23 and 4-55A-24 NMSA 1978" for "Sections 23 and 24 of the County Improvement District Act", "provided by Subsection A of Section 4-55A-26 NMSA 1978" for "as now provided by law", and "assignable certificates or bonds" for "negotiable coupon bonds", and made a minor stylistic change.
Structure New Mexico Statutes
Article 55A - County Improvement Districts
Section 4-55A-1 - Short title.
Section 4-55A-2 - Improvement district; definitions.
Section 4-55A-3 - Improvement district; authorization; limitation.
Section 4-55A-4 - Improvement district; purpose.
Section 4-55A-4.1 - Improvement district; additional purpose.
Section 4-55A-5 - Improvement district; powers of a county.
Section 4-55A-8 - Improvement district; notice of assessment; protests.
Section 4-55A-9 - Improvement district; provisional order; protest; action in district court.
Section 4-55A-11 - Improvement district; notice of preliminary hearing.
Section 4-55A-12.1 - Imposition of improvement district property tax; limitations.
Section 4-55A-15 - Notice of bid; acceptance of bid.
Section 4-55A-16 - Improvement district; assessment of railroad property.
Section 4-55A-17 - Improvement district; assessment roll; notice of assessment hearing.
Section 4-55A-19 - Improvement district; assessments; terms of payment; liens.
Section 4-55A-20 - Improvement district; authority to issue bonds or assignable certificates.
Section 4-55A-22 - Improvement district; additional duties imposed on county.
Section 4-55A-23 - Improvement district; acceptance of deed in lieu of foreclosure.
Section 4-55A-25 - Improvement district; title subject to redemption vests in trustee.
Section 4-55A-27 - Improvement district; assessment funds; expenditures; misuse; penalties.
Section 4-55A-28 - Transfer of improvement district funds.
Section 4-55A-29 - Improvement district; reassessment after voiding of assessments; procedure.
Section 4-55A-30 - Improvement district; reassessment; defects waived; credit for previous payment.
Section 4-55A-31 - Improvement district; appeal to district court.
Section 4-55A-33 - Improvement district; appeal of reassessment; procedure exclusive.
Section 4-55A-35 - Improvement district; refunding improvement bonds; authority.
Section 4-55A-36 - Refunding bonds; escrow; detail.
Section 4-55A-39 - Improvement district; construction of sections.
Section 4-55A-40 - Street and road improvement fund authorization.
Section 4-55A-41 - Street and road improvement fund; use.
Section 4-55A-43 - Street and road improvement fund; diverting proceeds from tax.