New Mexico Statutes 62-2-5. [Additional powers.]
Corporations formed under this article for the purpose of furnishing and supplying water for any of the purposes mentioned in Section 62-2-1 N.M. Stat. Ann., shall have, in addition to the powers hereinbefore mentioned, rights as follows:
Terms Used In New Mexico Statutes 62-2-5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A. to cause such examinations and surveys for their proposed reservoirs, canals, pipelines and ditches to be made, as may be necessary to the selection of the most eligible locations and advantageous routes, and for such purpose, by their officers, agents and servants, to enter upon the lands or water of any person, or of this state;
B. to take and hold such voluntary grant of real estate and other property, as shall be made to them in furtherance of the purposes of such corporation;
C. to construct their canals, pipelines or ditches upon or along any stream of water; D. to take and divert from any stream, lake or spring the surplus water, for the purpose of supplying the same to persons, to be used for the objects mentioned in Section 62-2-1 N.M. Stat. Ann., but such corporations shall have no right to interfere with the rights of, or appropriate the property of any persons except upon the payment of the assessed value thereof, to be ascertained as in this article provided: and provided, further, that no water shall be diverted, if it will interfere with the reasonable requirements of any person or persons using or requiring the same, when so diverted;
E. to furnish water for the purposes mentioned in Section 62-2-1 N.M. Stat. Ann., at such rates as the bylaws may prescribe; but equal rates shall be conceded to each class of consumers;
F. to enter upon and condemn and appropriate any lands, timber, stone, gravel or other material that may be necessary for the uses and purposes of said companies.