New Mexico Statutes
§ 3-4-8 — Income from property of a disincorporated municipality
New Mexico § 3-4-8
This text of New Mexico § 3-4-8 (Income from property of a disincorporated municipality) 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. § 3-4-8 (2026).
Text
Money received from the operation of property of a disincorporated municipality shall be used in the following priority: A. to pay employees engaged in the operation, maintenance and protection of the property; B. to pay the interest on the bonded indebtedness of the municipality; C. to purchase or redeem bonded indebtedness of the municipality; and D. after all bonded indebtedness has been paid, to support the public schools that existed within the boundary of the municipality at the time of its disincorporation.
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Legislative History
1953 Comp., § 14-4-8, enacted by Laws 1965, ch. 300.
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Repealed§ 3-10-5
Repealed§ 3-10-8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
ApplicabilityCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 3-4-8, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/3/3-4-8.