N.M. Const. art. IX, § 5
The legislature shall never enact any law releasing any county, or any of the taxable property therein, from its obligation to pay to the state any moneys expended by the state by reason of its assumption or payment of the debt of such county.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 72 Am. Jur. 2d States, Territories and Dependencies § 86.
Smaller political units, constitutionality of statutory plan for financing or refinancing bonds of, by larger political units, 106 A.L.R. 608.
81A C.J.S. States § 209.