Section 5-15-9 - Formation of a district. - New Mexico Statutes

5-15-9. Formation of a district.

A.     If the formation of the tax increment development district is approved by a majority of the voters casting votes at the election, or if an election is held by vote of the owners of property within the district or proposed district, the governing body shall deliver a copy of the resolution ordering formation of the tax increment development district to each of the following persons or entities:

(1)     the county assessor and the clerk of the county in which the district is located;

(2)     the school district within which any portion of the property located within a tax increment development area lies;

(3)     any other taxing entities within which any portion of the property located within a tax increment development area lies;

(4)     the taxation and revenue department;

(5)     the local government division of the department of finance and administration; and

(6)     the director of the legislative finance committee.

B.     A notice of the formation showing the number and date of the resolution and giving a description of the land included in the district shall be recorded with the clerk of the county in which the district is located.

C.     A tax increment development district shall be a political subdivision of the state, separate and apart from a municipality or county.