Section 73-11-50 - Financial statement of directors. - New Mexico Statutes

73-11-50. Financial statement of directors.

A.     The board of directors of any such irrigation district, at the first regular meeting of each year, shall render, and immediately thereafter cause to be published a verified statement of the financial condition of the district for the preceding year, together with a statement of expenditures by the United States under any contract the district has entered into with the United States, or other construction contracts, such statement or statements to show status of administration expenses, operation and maintenance costs and construction costs, in a manner reasonably clear to the general public. Said publications shall be made at least once each week for two weeks in some newspaper published in the county where the office of the district is located, or the said statements may be issued in pamphlet or leaflet form and mailed to the last known address of each qualified elector.   

B.     The board of directors of any irrigation district organized for the purpose of cooperation with the United States under the federal reclamation law, so long as such district is in continued cooperation with the United States in accordance with the purpose for which it was organized, may satisfy the publication requirements of this subsection in lieu of the requirements imposed by Subsection A of this section in the following manner:   

(1)     by maintaining on file in the office of the district the same financial information as required to be published by other irrigation districts; and,   

(2)     making such finincial [financial] information available for inspection by any qualified elector of the district; and   

(3)     providing any qualified elector of the district a copy of such financial information upon request.