N.M. Stat. § 3-15-10
All qualified electors residing within the municipality shall be qualified to vote at the special election held under the Municipal Charter Act, and the vote shall be by separate ballots, one of which shall be:
"In favor of adoption of charter [ ]"; and the other:
"Against adoption of charter [ ]".
The special election shall be conducted in accordance with the Local Election Act [Chapter 1, Article 22 NMSA 1978] and if a majority of all the votes cast shall favor the adoption of the charter, the charter shall take effect immediately insofar as necessary to authorize the election of officers, but shall not take effect otherwise until such date as may be specified in the charter, which date shall not be less than sixty days after the special election. After the date fixed by the charter, the municipality shall be deemed reorganized under the provisions of the charter, and the powers and duties of all officers elected or appointed under the former laws shall cease.
NMS § 3-15-10