Section 3-18-1 - General powers; body politic and corporate powersA municipality is a body politic and corporate under the name and form of government selected by its qualified electors. A municipality may:
B. enter into contracts or leases; C. acquire and hold property, both real and personal; D. have a common seal which may be altered at pleasure; E. exercise such other privileges that are incident to corporations of like character or degree that are not inconsistent with the laws of New Mexico; F. protect generally the property of its municipality and its inhabitants; G. preserve peace and order within the municipality; and H. establish rates for services provided by municipal utilities and revenue-producing projects, including amounts which the governing body determines to be reasonable and consistent with amounts received by private enterprise in the operation of similar facilities. 1953 Comp., § 14-17-1, enacted by Laws 1965, ch. 300; 1969, ch. 251, § 2; 1972, ch. 81, § 2.