New Mexico § 73-1-23 [Loans in anticipation of taxes; repayment.]

New Mexico Statutes

§ 73-1-23 — [Loans in anticipation of taxes; repayment.]

New Mexico § 73-1-23

Ch. 73Special Districts

Art. 1Artesian Conservancy Districts

This text of New Mexico § 73-1-23 ([Loans in anticipation of taxes; repayment.]) 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. § 73-1-23 (2026).

Text

The directors are hereby authorized to borrow money in anticipation of the proceeds from the collection of taxes to be derived from any uniform annual levy, and in such case the proceeds of all such taxes collected shall be applied to the repayment of such loan and to no other purpose, until the same be paid in full. The directors shall cause adequate annual tax levies to be made, as herein provided, until all obligations of the district are fully satisfied.

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The directors are hereby authorized to borrow money in anticipation of the proceeds from the collection of taxes to be derived from any uniform annual levy, and in such case the proceeds of all such taxes collected shall be applied to the repayment of such loan and to no other purpose, until the same be paid in full. The directors shall cause adequate annual tax levies to be made, as herein provided, until all obligations of the district are fully satisfied.