New Mexico Statutes
§ 3-28-17 — Proceeds from bond issues not to be diverted from
purpose. Whenever, under the provisions of the laws of this state, any intercommunity water or natural gas supply association obtains or has obtained any money or credits by means of the issue of its bonds or other evidences of indebtedness for the purpose of the purchase, construction or extension or repair of any particular system, it shall be unlawful to divert, use or expend any of the money or credits in the purchase, construction or extension or repair of any other system or for any purpose other than that for which the money or credits were or shall be obtained.
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New Mexico § 3-28-17 (Proceeds from bond issues not to be diverted from) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1953 Comp., § 14-27-15, enacted by Laws 1965, ch. 300; 1990, ch. 60, § 17.
Nearby Sections
15
§ 3-1-1
Municipalities; short title§ 3-1-2
Definitions§ 3-1-6
Final day to act§ 3-10-4
Repealed§ 3-10-5
Repealed§ 3-10-8
Officers; delivery of records§ 3-11-1
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