If the proposition carries, the area described in the petition shall be and become a part of the county to which annexation was made on January 1 of the next odd-numbered year. Provided that whenever there shall be any outstanding indebtedness of the county or school district in which such area was originally located, the annexation shall not be complete for debt service purposes until such indebtedness is discharged in full.
§ 4-33-7 NMSA 1978
[Effective date of annexation; effect of outstanding indebtedness.]
1941 Comp., § 15-3311, enacted by Laws 1947, ch. 196, § 7; 1953 Comp., § 15-33-7.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.