New Mexico Statutes
§ 72-20-73 — Application of proceeds
All money received from the issuance of any securities authorized in the Eastern Sandoval County Arroyo Flood Control Act shall be used solely for the purpose for which issued and the cost of any project thereby delineated. Any accrued interest and any premium shall be applied to the payment of the interest on, or the principal of, the securities, or both interest and principal, or shall be deposited in a reserve therefor, as the board may determine.
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Legislative History
Laws 2007, ch. 99, § 73.
Nearby Sections
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Natural waters; public§ 72-1-12
Indian water rights settlement fund§ 72-1-2.5
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[Traveler's use of water.]