New Mexico § 3-38-25 Maintaining revenue dedication

New Mexico Statutes

§ 3-38-25 — Maintaining revenue dedication

New Mexico·Ch. 3 Municipalities·Art. 38 Licenses and Taxes

If a municipality or county has dedicated any amount of revenue attributable to a tax imposed pursuant to the Lodgers' Tax Act [3-38-13 to 3-38-25 NMSA 1978], the municipality or county shall continue to dedicate the same amount of revenue attributable to the tax until the ordinance dedicating the revenue expires, the term of the dedication expires, the governing body acts to change the dedication or, in the case of bonded indebtedness, the debt is fully discharged or otherwise provided for in full.

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If a municipality or county has dedicated any amount of revenue attributable to a tax imposed pursuant to the Lodgers' Tax Act [3-38-13 to 3-38-25 NMSA 1978], the municipality or county shall continue to dedicate the same amount of revenue attributable to the tax until the ordinance dedicating the revenue expires, the term of the dedication expires, the governing body acts to change the dedication or, in the case of bonded indebtedness, the debt is fully discharged or otherwise provided for in full.

New Mexico § 3-38-25 (Maintaining revenue dedication) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.