interest on principal amount of utility [lien].

Terms Used In New Mexico Statutes 3-36-1

  • Lien: A claim against real or personal property in satisfaction of a debt.

A. The municipal clerk shall file in the office of the county clerk any notice of lien created by ordinance or under authority of law. The notice of lien shall include:

(1)     the number of the ordinance under which the lien is established; (2)     the fact that a lien is established;

(3)     the general purpose of the lien;

(4)     the name of the owner of the property against which the lien is established as determined from the records of the county assessor;

(5)     a description of the property against which the lien is established; (6)     the amount of the lien; and

(7)     if the lien is for more than one period of time, the date for which the lien is established.

B. A lien for charges or assessments which are provided for or fixed by any one ordinance or under authority of law may be included in the same notice of lien, and it shall not be necessary to file separate liens against the separate properties. The lien shall be attested in the name of the municipal clerk under the seal of the municipality.

C. The principal amount of any lien imposed for a municipal utility charge or assessment shall bear interest at the rate of twelve percent per year from the date of filing the notice of the lien unless otherwise provided by law.