2011 New Mexico Statutes
Chapter 73: Special Districts
Article 2: Ditches or Acequias, 73-2-1 through 73-2-68
Section 73-2-22: Acequia and community ditch associations; borrowing money; contracting indebtedness; security for payment.

73-2-22. [Acequia and community ditch associations; borrowing money; contracting indebtedness; security for payment.]

All acequia and community ditch associations are authorized to borrow money and otherwise contract indebtedness for the purposes of the district and, without limitation of the generality of the foregoing, to borrow money and accept grants from the United States, or from any corporation or agency created or designated by the United States, and, in connection with any such loan or grant, to enter into agreements as the United States or such corporation or agency may require, and to issue its notes or obligations therefor, and to secure the payment thereof by mortgage, pledge or deed of trust covering any of its property, assets, rights, privileges, licenses, rights-of-way, easements, revenues, income and assessments.