N.M. Stat. § 3-44-2
Hospitals; joint operation with county; indebtedness
authorized.
A. Any municipality may enter into an agreement with the county for the
construction, maintenance and operation of a county-municipal hospital.
B. A municipality or county is authorized to issue, separately, general obligation
bonds or revenue bonds for the purpose of constructing, maintaining and operating a
joint county-municipal hospital. The bonds shall be issued in the manner provided by
law for the issuance of bonds for the construction of public buildings or revenue bonds
for the construction of a municipal utility.