The governing body of any municipality, federally authorized Indian pueblo or tribe or other public body, upon its behalf and in its name, for the purpose of aiding and cooperating in the determination of any authority boundary or any project herein authorized, upon the terms and with or without consideration and with or without an election, as the governing body determines, may exercise the following powers:
A. sell, lease, loan, donate, grant, convey, assign, transfer and otherwise dispose to the authority, sewer facilities or any other property, or any interest therein, appertaining to a flood control system;
B. make available for temporary use or otherwise dispose to the authority of any machinery, equipment, facilities and other property, and any agents, employees, persons with professional training, and any other persons, to effect the purposes hereof. Any such property and persons owned or in the employ of any public body while engaged in performing for the authority any service, activity or undertaking herein authorized, pursuant to contract or otherwise, shall have and retain all of the powers, privileges, immunities, rights and duties of, and shall be deemed to be engaged in the service and employment of such public body, notwithstanding such service, activity or undertaking is being performed in or for the authority;
C. enter into any agreement or joint agreement between or among the federal government, the authority and any other public body, or any combination thereof, extending over any period not exceeding fifty years, which is mutually agreed [to] thereby, notwithstanding any law to the contrary, respecting action or proceedings appertaining to any power herein granted, and the use or joint use of any facilities, project or other property herein authorized;
D. sell, lease, loan, donate, grant, convey, assign, transfer or pay over to the authority any facilities or any project herein authorized, or any part thereof, or any interest in real or personal property, or any funds available for acquisition, improvement or equipment purposes, including the proceeds of any securities previously or hereafter issued for acquisition, improvement or equipment purposes which may be used by the authority in the acquisition, improvement, equipment, maintenance or operation of any facilities or project herein authorized;
E. transfer, grant, convey or assign and set over to the authority any contracts which may have been awarded by the public body for the acquisition, improvement or equipment of any project not begun or if begun, not completed;
F. budget and appropriate, and each municipality or other public body is hereby required and directed to budget and appropriate, from time to time, general (ad valorem) tax proceeds, and other revenues legally available therefor to pay all obligations arising from the exercise of any powers herein granted as such obligations shall accrue and become due;
G. provide for an agency, by any agreement herein authorized, to administer or execute that or any collateral agreement, which agency may be one of the parties to the agreement, or a commission or board constituted pursuant to the agreement;
H. provide that any such agency shall possess the common power specified in the agreement, and may exercise it in the manner or according to the method provided in the agreement. Such power is subject to the restrictions upon the manner of exercising the power of any one of the contracting parties, which party shall be designated by the agreement; and
I. continue any agreement herein authorized for a definite term not exceeding fifty years, or until rescinded or terminated, which agreement may provide for the method by which it may be rescinded or terminated by any party.
History: 1953 Comp., § 75-36-38, enacted by Laws 1963, ch. 311, § 38; 1989, ch. 361, § 2.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
The 1989 amendment, effective June 16, 1989, in the introductory paragraph, inserted "federally authorized Indian pueblo or tribe" and "the determination of any authority boundary or" and, in Subsection H, made a minor stylistic change.
Structure New Mexico Statutes
Article 16 - Albuquerque Metropolitan Arroyo Flood Control
Section 72-16-1 - Short title.
Section 72-16-2 - Legislative declaration.
Section 72-16-3 - Decision of board or governing body final.
Section 72-16-4 - Definitions.
Section 72-16-5 - Creation of authority.
Section 72-16-6 - Boundaries of authority.
Section 72-16-7 - Provision for remonstrances.
Section 72-16-8 - Board of directors.
Section 72-16-9 - Appointment of first board.
Section 72-16-10 - Election of directors.
Section 72-16-11 - Nomination of directors.
Section 72-16-12 - Filling vacancies on board.
Section 72-16-13 - Organizational meetings.
Section 72-16-14 - Board's administrative powers.
Section 72-16-15 - Records of board.
Section 72-16-16 - Meetings of board.
Section 72-16-16.1 - Joint powers agreement authorized.
Section 72-16-17 - Compensation of directors.
Section 72-16-18 - Interest in contracts and property disqualifications.
Section 72-16-19 - Flood control system; hearings thereon.
Section 72-16-20 - Implementing powers.
Section 72-16-21 - Protection of property rights.
Section 72-16-22 - Additional powers of the authority.
Section 72-16-23 - Levy and collection of taxes.
Section 72-16-24 - Levies to cover deficiencies.
Section 72-16-25 - Sinking fund.
Section 72-16-26 - Manner of levying and collecting taxes.
Section 72-16-27 - Delinquent taxes.
Section 72-16-35 - Dissolution of authority.
Section 72-16-36 - Filing of dissolution resolution.
Section 72-16-37 - Disposition of property, funds and taxes of authority.
Section 72-16-38 - Powers of public bodies.
Section 72-16-39 - Effect of extraterritorial functions.
Section 72-16-40 - Forms of borrowing.
Section 72-16-41 - Issuance of notes.
Section 72-16-42 - Issuance of warrants.
Section 72-16-43 - Maturities of notes and warrants.
Section 72-16-44 - Issuance of bonds and incurrence of debt.
Section 72-16-45 - Issuance of temporary bonds.
Section 72-16-46 - Issuance of interim debentures.
Section 72-16-47 - Payment of securities.
Section 72-16-48 - Additionally secured securities.
Section 72-16-49 - Pledge of revenues.
Section 72-16-50 - Ranking among different issues.
Section 72-16-51 - Ranking among securities of same issue.
Section 72-16-52 - Payment recital in securities.
Section 72-16-53 - Incontestable recital in securities.
Section 72-16-54 - Limitations upon payment of securities.
Section 72-16-55 - Limitations upon incurring any debt.
Section 72-16-56 - Security details.
Section 72-16-57 - Capitalization of costs.
Section 72-16-58 - Other security details.
Section 72-16-59 - Reissuance of securities.
Section 72-16-60 - Negotiability.
Section 72-16-61 - Single bonds.
Section 72-16-62 - Lost or destroyed securities.
Section 72-16-63 - Execution of securities.
Section 72-16-64 - Interest coupons.
Section 72-16-65 - Facsimile signatures.
Section 72-16-66 - Facsimile seal.
Section 72-16-67 - Signatures of predecessors in office.
Section 72-16-68 - Facsimile signatures of predecessors.
Section 72-16-69 - Repurchase of securities.
Section 72-16-70 - Customary provisions.
Section 72-16-71 - Sale of securities.
Section 72-16-72 - Sale discount or commission prohibited.
Section 72-16-73 - Application of proceeds.
Section 72-16-74 - Use of unexpended proceeds.
Section 72-16-75 - Validity unaffected by use of proceeds.
Section 72-16-76 - Covenants in security proceedings.
Section 72-16-77 - Remedies of security holders.
Section 72-16-78 - Limitations upon liabilities.
Section 72-16-79 - Cancellation of paid securities.
Section 72-16-80 - Interest after maturity.
Section 72-16-81 - Refunding bonds.
Section 72-16-82 - Method of issuance.
Section 72-16-83 - Limitations upon issuance.
Section 72-16-84 - Use of refunding bond proceeds.
Section 72-16-85 - Payment of refunding bonds.
Section 72-16-86 - Combination of refunding and other bonds.
Section 72-16-87 - Supplemental provisions.
Section 72-16-88 - Board's determination final.
Section 72-16-89 - Issuance of interim debentures and pledge of bonds as collateral security.
Section 72-16-90 - Interim debentures not to be extended.
Section 72-16-92 - Publication of resolution or proceedings.
Section 72-16-93 - Failure to contest legality constitutes bar.
Section 72-16-94 - Confirmation of contract proceedings.
Section 72-16-95 - Review and judgment of court.
Section 72-16-96 - Purpose of tax exemptions.
Section 72-16-97 - Property exempt from general taxes.
Section 72-16-98 - Securities and income therefrom exempt.
Section 72-16-99 - Freedom from judicial process.
Section 72-16-100 - Resort to judicial process.
Section 72-16-101 - Legal investments in securities.