It is unlawful to divert, use or expend any money received from the issuance of bonds for any purpose other than the purpose for which the bonds were issued.
History: 1978 Comp., § 4-62-2, enacted by Laws 1992, ch. 95, § 2.
Repeals and reenactments. — Laws 1992, ch. 95, § 2 repealed former 4-62-2 NMSA 1978, as enacted by Laws 1983, ch. 158, § 2, relating to procedure for issuing bonds, and enacted a new section, effective May 20, 1992.
Structure 2021 New Mexico Statutes
Section 4-62-1.1 - Definitions.
Section 4-62-2 - Use of proceeds of bond issue.
Section 4-62-3 - Revenue bonds; terms.
Section 4-62-3.1 - Exemption from taxation.
Section 4-62-5 - Revenue bonds not general county obligations; authentication.
Section 4-62-7 - Revenue bonds; refunding authorization.
Section 4-62-8 - Refunding bonds; escrow; detail.
Section 4-62-9 - Refunding revenue bonds; terms.
Section 4-62-10 - Refunding revenue bonds; ordinance; resolution.