New Mexico Statutes 72-18-3. Definitions
As used in the Flood Control District Act:
Terms Used In New Mexico Statutes 72-18-3
- Bequest: Property gifted by will.
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A. “acquisition” or “acquire” includes the opening, laying out, establishment, purchase, construction, securing, installation, reconstruction, lease, gift or grant from the federal government, any public body or person or any endowment, bequest, devise, condemnation, transfer, assignment, option to purchase, other contract or other acquirement of facilities, other property, any project or an interest authorized by the Flood Control District Act;
B. “board” means the board of directors of a district, which board shall consist of five directors;
C. “chair” means the chair of the board and president of a district;
D. “cost” or “cost of the project” means all or any part of the cost designated by the board of any facilities, project or interest in any facilities or project being acquired, and of all or any property, rights, easements, privileges, agreements and franchises deemed by the district to be necessary or useful and convenient in connection with the facilities or project, which cost, at the option of the board, may include all or any part of the incidental costs pertaining to the project and all other expenses necessary or desirable and appertaining to any project, as estimated by the board;
E. “director” means a member of the board of a district;
F. “disposal” or “dispose” includes the sale, destruction, razing, loan, lease, gift, grant, transfer, assignment, mortgage, option to sell, other contract or other disposition of facilities, other property or any project or an interest in any facilities, property or project authorized by the Flood Control District Act;
G. “district” means a flood control district created pursuant to the Flood Control District Act;
H. “equipment” or “equip” includes the furnishing of all necessary or desirable, related or appurtenant facilities appertaining to any facilities, property, project or interest in any facilities, property or project authorized by the Flood Control District Act;
I. “facility” includes any of the sewer facilities or other property appertaining to the flood control system of any district;
J. “federal government” means the United States or any agency, instrumentality or corporation thereof;
K. “federal securities” means bills, certificates of indebtedness, notes, bonds or other obligations that are direct obligations of, or the principal and interest of which obligations are unconditionally guaranteed by, the United States;
L. “improvement” or “improve” means the extension, widening, lengthening, betterment, alteration, reconstruction, repair or other improvement of facilities, other property or any project, or any interest in any facilities, property or project, authorized by the Flood Control District Act;
M. “person” means an individual, association, partnership, firm or corporation, excluding a public body and excluding the federal government;
N. “president” means the president of a district and the chair of the board of the district;
O. “project” includes any structure, facility or system relating to the flood control system that a district is authorized by the Flood Control District Act to acquire, improve, equip, maintain or operate, which may be located within and without the district’s boundaries;
P. “publication” or “publish” means publication in at least one newspaper published in the district or proposed district in the English language at least once a week and of general circulation in the district or proposed district or, if no such newspaper is published in the district or proposed district, then in a newspaper published in the state in the English language at least once a week and of general circulation in the district or proposed district, which publication shall be at least once a week for three consecutive weeks by three weekly insertions. It is not necessary that publication be made on the same day of the week in each of the three calendar weeks, but not less than fourteen days shall intervene between the first publication and the last publication;
Q. “public body” means the state or any agency, instrumentality or corporation or any political subdivision of the state, excluding districts and excluding the federal government;
R. “revenues” means income, other than tax proceeds, of a district; S. “secretary” means the secretary of a district;
T. “securities” means any notes, warrants, bonds or interim debentures or other obligations of a district authorized by the Flood Control District Act;
U. “sewer facilities” includes any one or more of the various devices used in the collection, channeling, impounding or disposition of storm, flood or surface drainage waters, including all inlets, collection, drainage or disposal lines, canals, intercepting sewers, outfall sewers, all pumping, power and other equipment and appurtenances, all extensions, improvements, remodeling, additions and alterations and any rights or interest in the sewer facilities; and
V. “treasurer” means the treasurer of a district.