Gas or geothermal utility; acquisition by municipality; intent

of legislature; self-liquidating project; liberal construction. A. It is the intent of the legislature to authorize municipalities to: (1) obtain the benefits of a natural gas supply, additional supply or supply of geothermal energy for their inhabitants and others within five miles of the municipal boundary; (2) take proper steps and actions necessary to that end by the acquisition of a natural gas or geothermal system; (3) finance the acquisition of the natural gas or geothermal system through the issuance of bonds; and (4) operate and manage a natural gas association, in which it was an organizer, organized by two or more municipalities pursuant to Sections 3-28-1 through 3-28-19 NMSA 1978 if the operating municipality finds that the association can no longer maintain adequate service. The terms and conditions of the operation and management by the municipality shall be set forth in a joint powers agreement between the municipality and the association. B. Chapter 3, Article 25 NMSA 1978 shall be liberally construed in conformity with the intent of this section.