2006 New Mexico Statutes - Section 72-17-35 — Dissolution of authority.

72-17-35. Dissolution of authority.

If a remonstrance be received pursuant to Section 7 [ 72-17-7 NMSA 1978] hereof denying the board the power to acquire a flood control system, or the first proposal for the issuance of bonds shall have failed to receive a favorable vote by a majority of the qualified electors voting thereon, the board shall proceed to dissolve the authority.

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