To levy and collect taxes, the board shall, in each year, determine the amount of money necessary to be raised by taxation, taking into consideration other sources of revenue of the district, and shall fix a rate of levy which, when levied upon every dollar of assessed valuation of taxable property within the district, and with other revenues will raise the amount required by the district annually, to supply funds for paying expenses of organization and the costs of construction [constructing], operating and maintaining the works and equipment of the district, and promptly to pay in full, when due, all interest on and principal of bonds and other obligations of the district, and in the event of accruing defaults or deficiencies, an additional levy may be made as provided in Section 73-21-19 NMSA 1978. The board shall, on or before October 1 of each year, certify to the board of county commissioners of each county within the district, or having a portion of its territory within the district, the rate so fixed with directions that at the time and in the manner required by law for levying of taxes for county purposes, the board of county commissioners shall levy the tax upon [the] assessed valuation of all taxable property within the district, in addition to other taxes as may be levied by the board of county commissioners at the rate so fixed and determined.
History: 1941 Comp., § 77-3416, enacted by Laws 1943, ch. 80, § 16; 1953 Comp., § 75-18-16; Laws 1963, ch. 261, § 4.
Bracketed material. — The bracketed material was inserted by the compiler and it is not part of the law.
Interest on bonds. — Interest may be collected after date of maturity of general obligation bond of sanitation district; holder is entitled to interest at rate stated from issuance of bond, until he receives payment. Dexter v. Lakeshore City Sanitation Dist., 1971-NMSC-057, 82 N.M. 556, 484 P.2d 1266.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Waterworks and Water Companies § 4.
94 C.J.S. Waters § 243.
Structure New Mexico Statutes
Chapter 73 - Special Districts
Article 21 - Water and Sanitation Districts
Section 73-21-1 - [Declaration of purpose.]
Section 73-21-2 - Short title.
Section 73-21-3 - Purpose of water and sanitation districts.
Section 73-21-4 - Definitions.
Section 73-21-5 - Organization of district.
Section 73-21-7 - Bond of petitioners.
Section 73-21-8 - Notice of hearing on petition.
Section 73-21-9 - Hearing on petitions; election for organization and officers.
Section 73-21-10 - Filing decree.
Section 73-21-11 - [Board of directors; qualification; bond.]
Section 73-21-15 - Board increase; appointed members.
Section 73-21-15.1 - Appointment of first board.
Section 73-21-16 - General powers.
Section 73-21-18 - Levy and collection of taxes.
Section 73-21-19 - Levies to cover defaults and deficiencies.
Section 73-21-20 - Officers levy and collect taxes.
Section 73-21-21 - Sale for delinquencies; purchase by district.
Section 73-21-22 - Sinking fund.
Section 73-21-23 - Inclusion [of additional property].
Section 73-21-24 - Exclusion [from district].
Section 73-21-25 - Liability of property included or excluded.
Section 73-21-26 - Bonds; interest; form.
Section 73-21-27 - Community Service District Act provisions apply.
Section 73-21-28 - Board resolution; indebtedness; election.
Section 73-21-31 - Effect of election; subsequent elections.
Section 73-21-32 - Correction of faulty notices.
Section 73-21-33 - Early hearings.
Section 73-21-34 - Liberal construction.
Section 73-21-35 - Character of act.
Section 73-21-36 - Acquisition, construction or improvement of systems; joint revenue bonds.
Section 73-21-37 - Interest; maturity; form; method of sale.
Section 73-21-38 - Revenue bond issuance.
Section 73-21-39 - Bonds collectible from operating revenues.
Section 73-21-40 - Rates; bondholders' remedy and taxpayer elector.
Section 73-21-41 - Restricted use of bond funds.
Section 73-21-42 - Violations; penalties.
Section 73-21-43 - Validation; existing districts.
Section 73-21-44 - Sale of system; escrow of proceeds.
Section 73-21-45 - Refunding bonds.
Section 73-21-46 - Limitations upon issuance.
Section 73-21-47 - Proceeds of refunding bonds.
Section 73-21-48 - Refunding bonds; detail; form.
Section 73-21-49 - Combination of issues.
Section 73-21-50 - Tax levy for general obligation refunding bonds.
Section 73-21-51 - Applicability of other bond provisions.
Section 73-21-52 - Duties of local government division.
Section 73-21-53 - Use of bond proceeds restricted.
Section 73-21-54 - Board's determination final.
Section 73-21-55 - Districts not subject to utility laws; option to submit to regulation.