New Mexico Statutes
§ 73-21-22 — Sinking fund
Whenever any indebtedness has been incurred by a district, it shall be lawful for the board to levy taxes and collect revenue for the purpose of creating a reserve fund in such amount as the board may determine, which may be used to meet the obligations of the district, for maintenance and operating charges and depreciation, and provide extensions of and betterments to the improvements of the district.
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Legislative History
1941 Comp., § 77-3420, enacted by Laws 1943, ch. 80, § 20; 1953 Comp., §
Nearby Sections
15
§ 73-1-1
[Purpose of districts.]§ 73-1-15
[District court procedure; notice.]