A. An H class county or incorporated county which constructs, acquires, operates or maintains a utility pursuant to Section 3-33-6 N.M. Stat. Ann. may exercise all of the powers exercised by a municipality which constructs, acquires, operates or maintains a utility pursuant to Section 3-24-1 or 3-25-2 N.M. Stat. Ann..

B. An H class county or incorporated county which constructs, acquires, operates or maintains a utility pursuant to Section 3-33-6 N.M. Stat. Ann. shall be subject to all of the restrictions and limitations as a municipality which constructs, acquires, operates or maintains a utility pursuant to Section 3-24-1 or 3-25-2 N.M. Stat. Ann. except:

(1)     the H class county or incorporated county need not hold an election prior to the construction of the utility; and

(2)     the H class county or incorporated county need not finance the utility by revenue bonds.

C. If an H class county or incorporated county seeks to acquire an existing utility through the creation of indebtedness, the question shall be submitted to a vote pursuant to the procedures established in Section 3-23-2 N.M. Stat. Ann..