N.M. Stat. § 73-11-13
Any desired special construction, reconstruction, betterment or improvement in an irrigation system, including drainage (and protection from arroyo floods or encroachment of arroyo fans, river rectification and control, river bank protection, construction of levees and jetties), which are for the special benefit of certain agricultural lands tributary thereto and lying within the geographical boundaries of an irrigation district, may be constructed, or improvements already constructed for similar or the same purposes may be purchased or acquired, and provision made to meet the cost thereof as follows:
the holders of title or evidence of title of one-quarter of the acreage proposed to be assessed may file with the board of directors of the irrigation district their petition reciting the nature and general plan of the desired improvement and specifying the lands proposed to be specially taxed therefor. Such petition shall be accompanied by a bond in the sum of one hundred ($100) dollars, with the surety to be approved by the said board of directors, conditioned that the petitioners will pay the cost of the investigation of the project and the hearing thereon if the same be not established. Said board may, at any time, require a bond in an additional sum, as may be deemed advisable. Upon the filing of such petition the board of directors, with the assistance of a competent engineer, shall make an investigation of the feasibility, cost and need of the proposed local improvement, together with the ability of the land to pay such costs, and if the same appears feasible they shall have a plan and estimate of the cost thereof prepared. If the cost shall appear to the board to exceed the benefits to accrue therefrom, or if the land proposed to be embraced within the local improvement district shall be found to be insufficient security for the return of the cost, or if a protest against the establishment of the proposed improvement, signed by a majority of the holders of title in the proposed local improvement district, be presented at or prior to the hearing herein provided for, or if in other respects the proposed local improvement district should be found not feasible, they shall hold such petition for organization for naught, and dismiss the same at the expense of the petitioners.
NMS § 73-11-13