New Mexico Statutes 73-14-13. Declaration of organization
A. The court, upon receipt of the certified results of the election that a majority of the persons voting have voted in favor of creating the district, shall declare the district organized.
Terms Used In New Mexico Statutes 73-14-13
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
B. Thereupon, the district shall be a political subdivision of the state and a body corporate with all the powers of a public or municipal corporation. The district shall have power to sue and be sued, to incur debts, liabilities and obligations, to exercise the right of eminent domain and of taxation and assessment as provided in the Conservancy Act of New Mexico, to issue negotiable bonds, and to perform all acts necessary and proper for carrying out the purposes for which the district was created and for exercising the powers with which it is invested.
C. In its declaration, the court shall designate where the office or principal place of business of the district shall be located, which shall be within the corporate limits of the district, if practicable, and which may be changed by order of the court. The regular meetings of the board of directors shall be held at such office or place of business, but for cause may be adjourned to any other convenient place. The official records and files of the district shall be kept at the office so established.