The state hereby assumes the debts and liabilities of the territory of New Mexico, and the debts of the counties thereof, which were valid and subsisting on June twentieth, nineteen hundred and ten, and pledges its faith and credit for the payment thereof. The legislature shall, at its first session, provide for the payment or refunding thereof by the issue and sale of bonds, or otherwise.

ANNOTATIONS

Comparable provisions. — Utah Const., art. III, Third.

Authority of state to issue certificate of indebtedness or borrow money. — Debts of territory became liabilities of state, and appropriations were made to pay deficiencies incurred by requirements of existing law, so there was no reason why state could not issue certificates of indebtedness or borrow money with which to pay such debts, so long as such evidences of indebtedness did not exceed constitutional limitations. State ex rel. Lucero v. Marron, 1912-NMSC-037, 17 N.M. 304, 128 P. 485.

Claims for wild animal bounties not authorized. — This section does not authorize payment by state of claims against a county for wild animal bounties. State ex rel. Beach v. Board of Loan Comm'rs, 1914-NMSC-040, 19 N.M. 266, 142 P. 152.

Compensation for services rendered by county treasurer as practicing physician. — County treasurer, who was practicing physician, was entitled to compensation for services rendered to board of county commissioners for examining persons said to be insane, for medical attention to prisoners in jail and for making post-mortem examinations of bodies. 1915-16 Op. Att'y Gen. No 16-1760.

Compensation for services rendered by county clerk as surveyor. — County commissioners were not authorized to employ and pay a county clerk for services as a surveyor, which services the county surveyor was enjoined by law to perform. 1916 Op. Att'y Gen. No. 16-1760.

Liability to repay counties overpayment for territorial expenses. — The liability of the territory to repay, acknowledged by Laws 1907, ch. 92 (now obsolete), to certain counties their overpayment for territorial expenses required by Laws 1903, ch. 89 (now obsolete), is a liability assumed by the state by this section. 1912 Op. Att'y Gen. No. 12-888.

Payment of interest on territorial bonds. — Statutory and constitutional provisions referred to in holding that interest on series "A" state bonds, by which territorial bonds for insane asylum and for military institute were assumed by the state, was properly payable from proceeds of sales and rentals of lands donated by congress to the two institutions respectively. 1915 Op. Att'y Gen. No. 15-1442.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 72 Am. Jur. 2d States, Territories and Dependencies §§ 14, 15.

81A C.J.S. States §§ 4, 5.