§ 73-9-25 NMSA 1978

An assessment and levy for the retirement and payment of any outstanding bonds of any such district shall be made for each and every year after the issuance and delivery of such bonds, for the purpose of creating a sinking fund out of which said bonds and interest accruing thereon may be paid, as and when they mature, and a failure or refusal on the part of the taxing officers of said county or counties to make such bond levy, for any year, shall be a misdemeanor and each such taxing officer shall be punished therefor, accordingly.