No water board created under this act [3-61-1 to 3-61-4 NMSA 1978] shall have the power to enter into a contract which by its terms prohibits any governing body or any local subdivision from abolishing the water board by repeal of the ordinance or ordinances by which the water board was created.
History: 1953 Comp., § 14-63-4, enacted by Laws 1976, ch. 47, § 4.