Money obtained or borrowed under the provisions hereof shall be expended only in the betterment, extension, construction, operation, reconstruction and repair of the canal, irrigation system and physical works of the district, and for the payment or retirement of any or all existing indebtedness not evidenced by outstanding bonds, and in any such expenditures made by the district the tender [lender] of the monies shall not be responsible for the application or expenditure thereof.
History: Laws 1933, ch. 52, § 8; 1941, ch. 112, § 1; 1941 Comp., § 77-2515; 1953 Comp., § 75-26-15.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Structure New Mexico Statutes
Chapter 73 - Special Districts
Article 13 - General Provisions Relating to Irrigation Districts
Section 73-13-1 - [Office of district.]
Section 73-13-2 - [Location determined by board of directors.]
Section 73-13-3 - [Power to deal in lands and water rights.]
Section 73-13-4 - Transfer water from one tract to another tract owned by district.
Section 73-13-5 - [State engineer notified of transfer.]
Section 73-13-6 - [Assessments on transfer of water rights.]
Section 73-13-7 - [Bondholders may be authorized to appoint director.]
Section 73-13-8 - Borrowing money; limitations.
Section 73-13-9 - [Security for loan; repayment; special assessments.]
Section 73-13-10 - [Execution and acknowledgment of security for loan.]
Section 73-13-11 - Limitation on term of loan; interest; renewal of loan.
Section 73-13-12 - [Advertisement or notice of sale unnecessary; private sale.]
Section 73-13-13 - [Total of loans not to exceed maximum.]
Section 73-13-14 - [Debt constitutes lien on district.]
Section 73-13-15 - [Use of borrowed money.]
Section 73-13-16 - [Special assessment entered by county assessor; lien; collection.]
Section 73-13-17 - [Purpose of act.]
Section 73-13-18 - [Construction of act.]
Section 73-13-19 - [Delinquent tax sales; purchase by district.]
Section 73-13-20 - [Expiration of redemption period; tax deed to district; prior liens.]
Section 73-13-22 - [Authority to purchase; expenses of purchase.]
Section 73-13-23 - When county be reinvested with title.
Section 73-13-24 - [Assessment, levy and collection of taxes by district.]
Section 73-13-25 - [Definitions.]
Section 73-13-26 - [Notice of intention to take over taxation duties.]
Section 73-13-27 - [Meeting for determination of tax rate.]
Section 73-13-29 - [Collections for United States; additional bond of treasurer.]
Section 73-13-30 - [Treasurer; bond; salary.]
Section 73-13-31 - [Assessment roll.]
Section 73-13-32 - [Collection of taxes.]
Section 73-13-34 - [Powers of district treasurer; delinquent taxes.]
Section 73-13-35 - [Accounts kept by treasurer; payments; monthly report; depositories.]
Section 73-13-36 - [County treasurer to turn over funds to district treasurer upon appointment.]
Section 73-13-37 - [Criminal liability of assessor-collector and treasurer.]
Section 73-13-38 - [Insolvency of municipal irrigation districts; appointment of receiver.]
Section 73-13-39 - [Powers of receiver of municipal district.]
Section 73-13-40 - [Powers of receivers of irrigation districts; limitation on power.]
Section 73-13-41 - [Powers upon order of court; effect of action.]
Section 73-13-42 - [Additional powers.]
Section 73-13-43 - [Validating law; definitions.]
Section 73-13-44 - [Establishment and proceedings of districts validated.]
Section 73-13-45 - [Elections and appointments of officers and employees validated.]
Section 73-13-46 - [Unissued bonds; elections validated.]
Section 73-13-47 - Irrigation districts; regulations; recreational use of reservoirs.