{"data":{"id":"us-nm/4-55a-22","jurisdiction":"us-nm","citation":"4-55A-22","heading":"Improvement district; additional duties imposed on county.","body":"A. Whenever an improvement district has been created and bonds or assignable certificates have been issued to finance the improvement, a county shall:\n(1) act as agent for the collection of the assessments;\n(2) collect the assessments when due;\n(3) act as trustee for the benefit of the holders of the bonds or assignable certificates;\n(4) annually prepare a statement that shall:\n(a) be available for inspection in the office of the county treasurer;\n(b) reflect the financial condition of the improvement district; and\n(c) list all the delinquencies existing at that time; and\n(5) institute proceedings to foreclose the assessment lien against any tract or parcel of land that is delinquent in the payment of the assessment or installment of an assessment for a period of more than one year.\nB. If more than one improvement district is created, the money from assessments in each district shall be kept in a separate fund and used for the payment of principal and interest of the bonds or assignable certificates outstanding against that improvement district.","path":["Chapter 4 - Counties","ARTICLE 55A County Improvement Districts"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18505/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"355d061dd2b2f06be1397186ebe14430abbc7e566b2bbd271a2a1c90d577b0c1","source_id":"us-nm","stale":false,"prev":"us-nm/4-55a-21","next":"us-nm/4-55a-23"},"notice":"GroundRules: Original legal text. Not legal advice."}