New Mexico § 16-2-25 Proceeds from sale of bonds

New Mexico Statutes

§ 16-2-25 — Proceeds from sale of bonds

New Mexico § 16-2-25

Ch. 16Parks, Recreation and Fairs

Art. 2State Parks Division

This text of New Mexico § 16-2-25 (Proceeds from sale of bonds) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 16-2-25 (2026).

Text

Proceeds from the sale of bonds issued under this State Park and Recreation Bond Act [16-2-20 to 16-2-29 NMSA 1978] shall be deposited in a special fund in the state treasury and used solely for the purpose for which the bonds were authorized. Purchasers of the bonds are not responsible in any way for the application of the proceeds. The cost of preparing, advertising and selling the bonds, including any necessary expense for financial and legal services, shall be paid out of the proceeds.

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Proceeds from the sale of bonds issued under this State Park and Recreation Bond Act [16-2-20 to 16-2-29 NMSA 1978] shall be deposited in a special fund in the state treasury and used solely for the purpose for which the bonds were authorized. Purchasers of the bonds are not responsible in any way for the application of the proceeds. The cost of preparing, advertising and selling the bonds, including any necessary expense for financial and legal services, shall be paid out of the proceeds.