A. The board, on a date to be fixed by a standing order of the board, which shall not be later than July 1 of each year, shall convene for the purposes in this section set forth and shall estimate and determine the amount of funds required to meet the obligations to come due and needs of the district in the ensuing year, together with such additional amount as may be necessary to meet any deficiency in the payment of expenses or obligations previously incurred by the district and remaining due and unpaid, and an amount to cover the estimated delinquencies in payments of assessments for the ensuing year; the aforesaid obligations, needs and items of expense being for such of the following purposes as may be required by the district, to wit:

Item one. The payment of the interest upon bonds of the district and any installment on principal thereof;

Item two. Any payment to become due under any contract with the United States whether for the cost of the irrigation and drainage system and works incidental thereto or for the operation and maintenance thereof, or both, or if the reclamation contract contemplates the division of irrigable lands by the secretary of the interior, into units not necessarily contiguous for repayment purposes, the board shall prepare separate estimates for such respective units or otherwise adapt the same to the requirements of the reclamation contract;

Item three. The portion of the expense of operation and maintenance of the irrigation and drainage system to be collected by assessment and levy. This portion shall not be less than one-fourth nor more than three-fourths of the estimate for such operation and maintenance costs, including the funds required to be advanced to the United States for operation and maintenance of the irrigation and drainage systems in accordance with the provisions of the reclamation contract for the ensuing year, and shall be determined by the board from year to year, and that part thereof apportioned as in this act N.M. Stat. Ann. § 73-18-1 to 73-18-24 provided for assessment and levy upon Class “A” real property shall be so assessed and levied against each acre thereof, pro rata, whether irrigated or not and the same when collected shall be applied to the cost of operating and maintaining the irrigation and drainage systems. The remainder of said total amount estimated for the expense of operation and maintenance for the ensuing year shall be paid as tolls or charges by those actually using said irrigation and drainage systems and water in accordance with the terms of their respective contracts for water;

Item four. Current and miscellaneous expenses other than as above specified and including necessary expenses of maintaining the organization of the district and carrying out the purpose of this act, which may be in the aggregate in a sum which when apportioned as in this act provided, will result in a per acre charge against Class “A” lands not in excess of forty cents (40¢) per acre. That portion of the amounts to be collected under Item four apportioned to Class “A” real property, may, at the option of the board of directors of said district, be collected in whole or in part as tolls and charges in the manner provided in this act (73-18-1 to 73-18-24 [NMSA 1978]).

B. The aggregate amount so determined by the board, required to meet the obligations of the district and to be collected by assessment and levy shall be apportioned between Class “A” real property and Class “B” real property, as in this act defined, on the basis of the apportionment determined in accordance with the provisions of Section 7 (73-18-7 [NMSA 1978]) hereof and that portion thereof apportioned to Class “A” real property shall be raised by assessment and levy to be extended pro rata per acre over all of said Class “A” property and that portion thereof so apportioned to Class “B” real property shall be raised by assessment and levy at a uniform rate ad valorem upon all of said Class “B” real property upon every dollar of the assessed valuation thereof as shown by the last preceding assessment for state and county taxes. Provided that if any Class “B” real property within the district for which benefits were appraised under the Conservancy Act does not appear on county assessment polls [rolls] for state and county taxes, the board shall have the same appraised, placed upon the county tax rolls for assessment purposes and levy the assessments herein provided against said property on the valuation so determined. Such annual assessment and levy shall be made by resolution of the board of directors. In any year or years prior to the classification of real property within the district, as provided for in Section 6 (73-18-6 [NMSA 1978]) hereof, the entire amount so determined by resolution of the board of directors to be needed to meet the obligations of the district for the ensuing year shall embrace only amounts required under the aforesaid Item four and shall be raised by annual assessment and levy at a uniform rate upon all of the real property within such district of not exceeding four mills for every dollar of the assessed valuation thereof, as shown by the last preceding assessment for state and county taxes and shall be in addition to all other taxes and assessments levied thereon.

C. When the board shall assemble for the purposes hereinbefore described it shall sit as a board of equalization and, subject to such reasonable regulations as it may prescribe, shall afford to all persons desiring to do so an opportunity to make such showing as they may deem proper as to why any given tract or parcel of real property or portion thereof should not be so assessed. In each case the board may cause to be made such investigation as it may deem proper, after which the board shall determine the question submitted as right and justice may require, and shall cause its decision to be duly entered upon its minutes and a copy thereof to be sent by registered mail to all parties who have so appeared and offered to show cause why such assessment should not be made against their respective properties.

D. Any person feeling himself aggrieved by such decision as aforesaid, may appeal therefrom to the conservancy court within thirty (30) days from and after the rendition and mailing as aforesaid of said copy of the decision complained of by serving upon the secretary of the district written notice of such action and filing a copy thereof together with the copy of the decision complained of in the office of the clerk of the conservancy court. Upon being served with such notice the secretary of the district shall forthwith transmit to the clerk of said court a certain [certified] transcript of all the papers and records pertaining to the case which may have been filed in connection therewith. Upon such appeal the case shall be tried in the conservancy court, subject to the law, rules and practice governing such court as upon a writ of certiorari.

E. The filing of said appeal in said conservancy court shall not stay the proceedings relating to the collection of said tax, but in the event that appellant has paid such tax before the rendition of final judgment in said suit and judgment is rendered in said suit in favor of appellant, appellant shall have refunded to him such sum of money as shall be determined by the judgment of the said court, together with legal interest thereon and costs of court, but if the appellant fails to recover in said suit, appellant shall pay the costs of court.

F. The secretary of the district, not later than September first each year shall deliver to the county assessor of each county embracing any part of the district a certified copy of the resolution of the board of directors making the annual assessment and levy as in this section provided.

G. The secretary of the district shall prepare and keep a record of all land within the district classified as Class “A” showing the per acre assessments made against such land and the payment of such assessments. In preparation and keeping such record, the said secretary shall take into consideration the recommendations of the bureau of reclamation of the United States. The board of directors of the district are hereby authorized to fix the amount of such assessments and the date of the maturities thereof, in accordance with the provisions of this act. At any time any of such per acre assessments are delinquent, the board of directors may institute proceedings in the district court for the collection thereof, such proceedings to be governed by the laws applicable to mortgage foreclosures. In any such proceedings, the district court or the supreme court may allow such attorney’s fees as to the court may seem equitable, such attorney’s fees and court costs incurred to be a lien upon the land charged with the assessment or assessments upon which the proceedings may be had. Any number of assessments and tracts may be included in one suit. Per acre assessments shall be considered any assessment made on a per acre basis without regard to valuation. All such per acre assessments shall bear interest at the rate of 12% per annum from the date of delinquency until paid. The county treasurer and the county assessor are hereby relieved from all responsibility with regard to per acre assessments for such conservancy district. All such assessments shall be liens upon the real estate upon which such assessments are made as of the date of the action of the board of directors of the conservancy district fixing such assessments.

H. For the purposes of the assessment and enforcement of all liens provided by this act, the records and plats of the conservancy district shall be official records, and certified copies of such records and plats duly authenticated by the secretary of said conservancy district, under the seal of said district, shall be admissible as evidence in all courts of this state. Cognizance is hereby taken of the difficulty or impossibility of such plats of irregular irrigable tracts being exact, and inaccuracies in such plats and descriptions which do not affect the validity of any liens upon such irrigable tracts; and in proceedings for the enforcement of any liens created by this act, the court may in its discretion correct any errors which may appear. Provided such corrections or errors shall not affect adversely the substantial rights of the parties; and the court shall have power in any proceeding for the enforcement of such liens to clarify any descriptions which may be inaccurate. Provided such action of the court does not do substantial injustice to any party.