Upon the acceptance or purchase of the tract or parcel of land as provided in Sections 4-55A-23 and 4-55A-24 NMSA 1978, title to the tract or parcel of land, subject to the right of redemption provided by Subsection A of Section 4-55A-26 NMSA 1978, vests in the trustee of the fund from which the assignable certificates or bonds are payable.
History: Laws 1980, ch. 91, § 25; 1991, ch. 199, § 47.
The 1991 amendment, effective April 4, 1991, substituted "Sections 4-55A-23 and 4-55A-24 NMSA 1978" for "Sections 23 and 24 of the County Improvement District Act", "provided by Subsection A of Section 4-55A-26 NMSA 1978" for "as now provided by law", and "assignable certificates or bonds" for "negotiable coupon bonds", and made a minor stylistic change.
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