2019 New Mexico Statutes
Chapter 3 - Municipalities
Article 33 - Improvement Districts
Section 3-33-43 - Improvement district; construction of Sections 3-33-39 through 3-33-42 NMSA 1978.
Nothing contained in Sections 3-33-39 through 3-33-42 NMSA 1978 shall be construed as:
A. increasing the burden or liability of any tract or parcel of land or the owner of any tract or parcel of land; or
B. except for issuance of the refunding bonds, creating any additional liability of the municipality.
History: 1953 Comp., § 14-32-38, enacted by Laws 1965, ch. 300; 1991, ch. 199, § 30.
ANNOTATIONSThe 1991 amendment, effective April 4, 1991, substituted "3-33-39 through 3-33-42 NMSA 1978" for "14-32-35 through 14-32-37 New Mexico Statutes Annotated, 1953 Compilation" in the catchline and in the introductory paragraph; redesignated former Paragraphs (1) and (2) of former Subsection A as Subsections A and B; added "except for issuance of the refunding bonds" at the beginning of Subsection B; deleted former Subsection B which read "The issuance of the refunding bonds shall not give any bondholder any greater right than he had prior to the refunding. The owners and holders of refunding bonds shall be subrogated to all the rights and remedies possessed by the owner and holders of the bonds refunded"; and made a related stylistic change.
