If a remonstrance is received pursuant to Section 72-16-7 NMSA 1978 denying the board the power to acquire a flood control system or if the first proposal for the issuance of bonds fails to receive a favorable vote by a majority of the qualified electors voting thereon, the board shall proceed to dissolve the authority.
History: 1953 Comp., § 75-36-35, enacted by Laws 1963, ch. 311, § 35; 1985, ch. 190, § 12.
ANNOTATIONSThe 1985 amendment, effective June 14, 1985, substituted "remonstrance is received" for "remonstrance be received" and "Section 72-16-7 NMSA 1978" for "Section 7 hereof" near the beginning and "or" for "of" following "flood control system" and "fails to receive" for "shall have failed to receive" near the middle of the section.