N.M. Stat. § 73-16-32
In addition to the separate funds provided for under Section 501, Subsection 1 [73-16-1 A NMSA 1978] of Article V of the Conservancy Act [of New Mexico], there is hereby created a separate fund to be known as the "conservation and development fund," by which shall be meant the proceeds of a special levy hereby authorized to be made against the special benefits appraised, equalized and confirmed; and legislative finding is hereby made that for the purpose of conserving and developing the resources of any conservancy district heretofore or hereafter created under the Conservancy Act of New Mexico, the lands and properties therein have and will be benefited by the construction of the official plan and the conserving and developing of the resources thereof to the extent of the benefits confirmed and approved, and that the same have and will be further benefited and improved by conserving and developing the resources thereof in the manner provided hereunder.
NMS § 73-16-32