New Mexico § 22-19-8 Records; restriction on use of income

New Mexico Statutes

§ 22-19-8 — Records; restriction on use of income

New Mexico § 22-19-8

Ch. 22Public Schools

Art. 19School Revenue Bonds

This text of New Mexico § 22-19-8 (Records; restriction on use of income) 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. § 22-19-8 (2026).

Text

A. A local school board shall retain complete and accurate records of:

(1)the net income from the income project; and (2) the operating costs of the income project. B. All income from the income project shall be used solely for the following purposes:

(1)to pay the principal, interest and service charges on any bonds or other special obligations issued pursuant to the School Revenue Bond Act; and (2) to pay the operating costs of the income project.

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A. A local school board shall retain complete and accurate records of: (1) the net income from the income project; and (2) the operating costs of the income project. B. All income from the income project shall be used solely for the following purposes: (1) to pay the principal, interest and service charges on any bonds or other special obligations issued pursuant to the School Revenue Bond Act; and (2) to pay the operating costs of the income project.