Section 72-14-23 - New Mexico irrigation works construction fund created; limitation of liability under act; reparation of damages caused in carrying out powers granted; authority of commission to rec
72-14-23. New Mexico irrigation works construction fund created; limitation of liability under act; reparation of damages caused in carrying out powers granted; authority of commission to receive contributions.
There is (hereby) created a fund to be known as the "New Mexico irrigation works construction fund," which shall consist of the income creditable to the permanent reservoirs for irrigation purposes income fund not otherwise pledged under Section 72-14-19 NMSA 1978 (being Laws 1955, Chapter 266, Section 11) and all other moneys which may be appropriated by the state legislature to said construction fund. Such fund shall be a continuing fund and shall not revert to the general fund of the state or to any other fund of the state at the end of any biennium.
The cost of investigations and construction as authorized in Section 72-14-11 NMSA 1978 (being Laws 1955, Chapter 266, Section 3) shall be paid from said New Mexico irrigation works construction fund and also the cost of all preliminary work on any project and all expenses directly chargeable to such project, prior to the receipt of the proceeds of bonds, shall be paid from the construction fund. The amount of all such expenses on account of any project or projects and such part of the general administrative expenses of the commission and the cost of investigation or investigations as shall be properly chargeable, in the opinion of the commission, to such project or projects, shall be reimbursed to the construction fund upon the receipt of the proceeds of bonds issued for such project or projects. No liability or obligation shall be incurred under the provisions of Sections 72-14-9 to 72-14-23, 72-14-25 to 72-14-28 NMSA 1978 (being Laws 1955, Chapter 266, Sections 1 to 19) beyond the extent to which money shall have been provided under the authority of this act [72-14-9 to 72-14-23, 72-14-25 to 72-14-28 NMSA 1978]. All public and private property damaged or destroyed in carrying out the powers granted under this act shall be restored or repaired and placed in their [its] original condition, as nearly as practicable, or adequate compensation made therefor out of funds provided by this act.
The commission shall also have authority to pay the cost of such investigations and construction on any project from said construction fund when contracts in form satisfactory to it shall have been entered into whereby title to works shall have been mortgaged, deeded, assigned or transferred by the owner thereof to the commission, and a program for reimbursement of all amounts expended together with operation and maintenance charges shall have been agreed upon. Provided that no construction contract shall be entered into without the prior approval of the state board of finance. The commission shall also have authority to receive and accept appropriations and contributions from any source of either money or property or other things of value, to be held, used and applied for the purposes in this act provided.