A. No application for dissolution shall be declared void on account of alleged defects, but the court may at any time permit the petition to be amended to conform to the facts by correcting any errors in the description of the territory or in any other particular.
B. The court shall order an election in the district on the question of dissolution if it finds the application for dissolution to be in order and finds that the district has no outstanding securities or other financial obligations or that the district's securities and other financial obligations will be adequately provided for before dissolution by means of escrow funds or federal securities to secure payment thereof.
C. If the district has outstanding securities or other financial obligations and no escrow plan, the court shall determine whether the continuation of functions provided for in the plan for dissolution adequately provides for payment of the securities and other financial obligations of the district. If the court determines that the application and the plan for dissolution are sufficient and that an agreement exists for continuation of functions, the court shall order an election of the qualified electors of the district pursuant to the provisions of the Local Election Act [Chapter 1, Article 22 NMSA 1978] on the question of dissolving the district or, if there is a plan for dissolution, on the question of dissolving the district in accordance with the plan for dissolution. If, at any time after the filing of an application for dissolution, the court determines that no agreement can be reached concerning the plan for dissolution or that the other requirements of Section 72-18-28 NMSA 1978 cannot be met, it shall dismiss the dissolution proceedings.
History: Laws 1981, ch. 377, § 30; 2019, ch. 212, § 245.
The 2019 amendment, effective April 3, 2019, provided that an election on whether a flood control district should be dissolved should be held pursuant to the provisions of the Local Election Act; in Subsection C, after "electors of the district", added "pursuant to the provisions of the Local Election Act", and after "requirements of Section", deleted "28 of the Flood Control District Act" and added "72-18-28 NMSA 1978".
Structure New Mexico Statutes
Article 18 - Flood Control Districts
Section 72-18-1 - Short title.
Section 72-18-2 - Legislative declaration.
Section 72-18-3 - Definitions.
Section 72-18-4 - Organization of district; jurisdiction.
Section 72-18-6 - Bond of petitioners.
Section 72-18-7 - Notice of hearing on petition.
Section 72-18-9 - Nominations for initial board.
Section 72-18-10 - Organizational election.
Section 72-18-11 - Filing decree.
Section 72-18-12 - Board of directors; qualification; bond.
Section 72-18-13 - Organization of board; initial terms of directors.
Section 72-18-14 - Election of directors.
Section 72-18-15 - Vacancies on the board.
Section 72-18-16 - Meetings of board.
Section 72-18-17 - Compensation of directors.
Section 72-18-18 - Interest in contracts and property disqualifications.
Section 72-18-19 - Board's administrative powers.
Section 72-18-20 - Additional powers.
Section 72-18-21 - Levy and collection of taxes.
Section 72-18-22 - Reserve fund.
Section 72-18-23 - Delinquent taxes.
Section 72-18-24 - Inclusion of additional property.
Section 72-18-25 - Exclusion from district.
Section 72-18-25.1 - Exclusion from district; boundary adjustments.
Section 72-18-26 - Liability of property included or excluded.
Section 72-18-27 - Dissolution; petition for election; application.
Section 72-18-28 - Dissolution; requirements for application.
Section 72-18-29 - Dissolution; notice of filing application.
Section 72-18-30 - Dissolution; hearings; court powers.
Section 72-18-31 - Dissolution; election notice.
Section 72-18-32 - Dissolution; limitation on elections.
Section 72-18-33 - Dissolution; order entered; conditions attached.
Section 72-18-34 - Dissolution; disposition of remaining funds.
Section 72-18-35.1 - Election of directors; established district.
Section 72-18-42 - Powers of public bodies.
Section 72-18-43 - Effect of extraterritorial functions.
Section 72-18-44 - Forms of borrowing.
Section 72-18-45 - Issuance of notes.
Section 72-18-46 - Issuance of warrants.
Section 72-18-47 - Maturities of notes and warrants.
Section 72-18-48 - Issuance of bonds and incurrence of debt.
Section 72-18-49 - Issuance of interim debentures.
Section 72-18-50 - Payment of securities.
Section 72-18-51 - Additionally secured securities.
Section 72-18-52 - Pledge of revenues.
Section 72-18-53 - Payment recital in securities.
Section 72-18-54 - Limitations upon payment of securities.
Section 72-18-55 - Security details.
Section 72-18-56 - Capitalization of costs.
Section 72-18-57 - Execution of securities and interest coupons.
Section 72-18-58 - Signatures of predecessors in office.
Section 72-18-59 - Repurchase of securities.
Section 72-18-60 - Limitations on liabilities.
Section 72-18-61 - Interest after maturity.
Section 72-18-62 - Refunding bonds.
Section 72-18-63 - Issuance of interim debentures and pledge of bonds as collateral security.
Section 72-18-64 - Interim debentures not to be extended.
Section 72-18-66 - Publication or resolution of proceedings; actions.
Section 72-18-67 - Property exempt from general taxes.
Section 72-18-68 - Securities and income exempt.