2019 New Mexico Statutes
Chapter 6 - Public Finances
Article 14 - Public Securities
Section 6-14-7 - Validation; limitation of action.
After the passage of thirty days from the publication required by Section 3 [6-14-6 NMSA 1978] of the Public Securities Limitation of Action Act, any action attacking the validity of any proceedings had or taken by the state or any public body preliminary to and in the authorization and issuance of the public securities described in the notice is perpetually barred.
History: 1953 Comp., § 11-11-4, enacted by Laws 1975, ch. 350, § 4.
ANNOTATIONSAttacking validity of proceedings. — The plaintiff's attack on the legality of the bond issue ordinance is an attack on the validity of the proceedings in which the ordinance was enacted, and thus is subject to the statute of limitations. Bolton v. Board of Cnty. Comm'rs, 1994-NMCA-167, 119 N.M. 355, 890 P.2d 808.
Reasonableness of thirty-day limitations period. — In view of the need for issuance of bond issues by numerous public entities, the thirty-day statute of limitations imposed under the Public Securities Limitation of Action Act does not unreasonably restrict legitimate challenges to the validity of bond issues. Bolton v. Board of Cnty. Comm'rs, 1994-NMCA-167, 119 N.M. 355, 890 P.2d 808.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 407 to 414.
