The governing body of the county that formed the district and the governing bodies of any counties that have become part of the district may, by majority vote, agree to unwind and dissolve the district and dismiss the authority members if they find the district is not meeting the needs of the community in creating jobs or fostering economic development. The assets and all debts and obligations of the district shall be transferred to and assumed by the counties as set forth in the unwinding or dissolution agreement.History: Laws 2020, ch. 78, § 10. ANNOTATIONSEmergency clause. — Laws 2020, ch. 78, § 13 contained an emergency clause and was approved March 9, 2020.
New Mexico Legal Code