N.M. Stat. § 73-13-46
That all elections in said irrigation districts authorizing or purporting to authorize the issuance of bonds of said irrigation districts which have not been delivered and paid for prior to the date this act [73-13-43 to 73-13-46 NMSA 1978] shall become effective, be, and the same hereby are validated, ratified, confirmed, approved and declared legal and still effective in all respects. Upon resolution adopted by a majority of the members of the board of directors of such irrigation districts, all such authorized and unissued bonds may be issued, sold, executed and delivered by the directors notwithstanding any discrepancies or irregularities which may have occurred in the proceedings relating to the holding of such elections or in the length of time, not exceeding twenty years, which may have occurred from the date of the holding of such elections or purported elections to the date of the passage of such resolution, any laws of this state to the contrary notwithstanding.
NMS § 73-13-46