It shall be the duty of the treasurer to keep a district bond fund account, a district contract fund account, a district operation and maintenance fund account and a district general fund account, and the proceeds of the taxes collected shall be covered into the respective funds. The district bond fund shall consist of all moneys collected for principal and interest of the bonds issued by said district; the district contract fund shall consist of all moneys received from taxes levied to provide for payment to the United States; the operation and maintenance fund shall consist of all moneys received on account of the operation and maintenance of irrigation and drainage system, except moneys to be paid to the United States pursuant to any contract; and the feneral [general] fund shall consist of all moneys received on account of current and miscellaneous expenses, not to be covered into any of the foregoing funds. Provided, however, that the treasurer and other officers of irrigation districts, other than those organized to cooperate with the government of the United States under federal reclamation law, shall not be required to keep a contract fund account.
The treasurer shall pay out of the district bond fund when due, the interest and principal of said bonds of said district, at the time and place specified in said bonds. The treasurer shall pay out of the said contract fund, all payments as they become due to the United States under contract at the time and in the manner provided in said contract. The treasurer shall pay out of said operation and maintenance fund, only upon warrants signed by the president or vice president, and countersigned by the secretary of the district directed to such party or parties as are due payment for operating and maintaining said irrigation and drainage system. The treasurer shall pay out of said general fund only upon order signed by the president or vice president, and countersigned by the secretary of said district.
The treasurer, on the fifteenth day of each month, shall report to the board of directors of said district, the amount of money in his hands to the credit of the respective funds above provided. All district taxes collected and paid to the treasurer, as aforesaid, shall be by him deposited in a bank or banks to be designated by the board of directors as a depository, and the board of directors is hereby created a board of finance, and the funds of said district shall be deposited in accordance with the law in force in respect to public depositories.
History: Laws 1927, ch. 129, § 12; C.S. 1929, § 73-412; Laws 1933, ch. 121, § 4; 1941 Comp., § 77-2536; 1953 Comp., § 75-26-35.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Cross references. — For application of section, see compiler's notes to 73-13-24 NMSA 1978.
For public depositories, see 6-10-2 NMSA 1978 et seq.
For federal reclamation laws, see 43 U.S.C. § 371 et seq.
Structure New Mexico Statutes
Chapter 73 - Special Districts
Article 13 - General Provisions Relating to Irrigation Districts
Section 73-13-1 - [Office of district.]
Section 73-13-2 - [Location determined by board of directors.]
Section 73-13-3 - [Power to deal in lands and water rights.]
Section 73-13-4 - Transfer water from one tract to another tract owned by district.
Section 73-13-5 - [State engineer notified of transfer.]
Section 73-13-6 - [Assessments on transfer of water rights.]
Section 73-13-7 - [Bondholders may be authorized to appoint director.]
Section 73-13-8 - Borrowing money; limitations.
Section 73-13-9 - [Security for loan; repayment; special assessments.]
Section 73-13-10 - [Execution and acknowledgment of security for loan.]
Section 73-13-11 - Limitation on term of loan; interest; renewal of loan.
Section 73-13-12 - [Advertisement or notice of sale unnecessary; private sale.]
Section 73-13-13 - [Total of loans not to exceed maximum.]
Section 73-13-14 - [Debt constitutes lien on district.]
Section 73-13-15 - [Use of borrowed money.]
Section 73-13-16 - [Special assessment entered by county assessor; lien; collection.]
Section 73-13-17 - [Purpose of act.]
Section 73-13-18 - [Construction of act.]
Section 73-13-19 - [Delinquent tax sales; purchase by district.]
Section 73-13-20 - [Expiration of redemption period; tax deed to district; prior liens.]
Section 73-13-22 - [Authority to purchase; expenses of purchase.]
Section 73-13-23 - When county be reinvested with title.
Section 73-13-24 - [Assessment, levy and collection of taxes by district.]
Section 73-13-25 - [Definitions.]
Section 73-13-26 - [Notice of intention to take over taxation duties.]
Section 73-13-27 - [Meeting for determination of tax rate.]
Section 73-13-29 - [Collections for United States; additional bond of treasurer.]
Section 73-13-30 - [Treasurer; bond; salary.]
Section 73-13-31 - [Assessment roll.]
Section 73-13-32 - [Collection of taxes.]
Section 73-13-34 - [Powers of district treasurer; delinquent taxes.]
Section 73-13-35 - [Accounts kept by treasurer; payments; monthly report; depositories.]
Section 73-13-36 - [County treasurer to turn over funds to district treasurer upon appointment.]
Section 73-13-37 - [Criminal liability of assessor-collector and treasurer.]
Section 73-13-38 - [Insolvency of municipal irrigation districts; appointment of receiver.]
Section 73-13-39 - [Powers of receiver of municipal district.]
Section 73-13-40 - [Powers of receivers of irrigation districts; limitation on power.]
Section 73-13-41 - [Powers upon order of court; effect of action.]
Section 73-13-42 - [Additional powers.]
Section 73-13-43 - [Validating law; definitions.]
Section 73-13-44 - [Establishment and proceedings of districts validated.]
Section 73-13-45 - [Elections and appointments of officers and employees validated.]
Section 73-13-46 - [Unissued bonds; elections validated.]
Section 73-13-47 - Irrigation districts; regulations; recreational use of reservoirs.