N.M. Stat. § 37-1-26
[Questioning of privilege or franchise granted by municipal
corporation.]
No action or suit shall be brought to call in question any privilege or franchise
granted by any municipal corporation, unless the same shall be brought within six years
after the same shall have been granted, or claimed to have been granted, and any such
privilege or franchise heretofore granted by any municipal corporation shall, after six
years from the date of the granting of the same, or within six years after the same shall
have been claimed to have been granted, shall [sic] be deemed valid in all respects.