The entire proceeds from such guaranty fund levy shall be deposited by the treasurer of such conservancy district in a separate fund to be known as the guaranty fund, and so long as any bonded indebtedness of such district remains outstanding and unpaid, the guaranty fund may be used only to pay the principal of and interest upon the bonded indebtedness of the district as the same shall mature, and then only when and if the district does not have on hand other funds available for such purposes.
History: Laws 1931, ch. 50, § 4; 1941 Comp., § 77-2943; 1953 Comp., § 75-30-43.
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 16 - Conservancy Districts; Financial Administration
Section 73-16-2 - Preliminary fund.
Section 73-16-3 - Power to borrow money for the preliminary fund.
Section 73-16-4 - Construction fund.
Section 73-16-6 - Payment of construction fund assessments.
Section 73-16-7 - Conservancy bonds.
Section 73-16-8 - Bonds tax exempt.
Section 73-16-9 - Bonds, investment of state funds.
Section 73-16-10 - Maintenance fund.
Section 73-16-11 - Power to borrow money for the maintenance fund.
Section 73-16-12 - Readjustment of maintenance fund assessments.
Section 73-16-13 - Assessment of public corporations.
Section 73-16-14 - Duties of officers of public corporations.
Section 73-16-15 - Annual levy.
Section 73-16-16 - Lien of assessments.
Section 73-16-17 - Revenue laws of state [applicable].
Section 73-16-18 - Division of assessment.
Section 73-16-19 - County takes property subject to lien of district assessments.
Section 73-16-20 - County commissioners cannot rebate district assessments.
Section 73-16-21 - Board may be purchaser on sale.
Section 73-16-22 - Special proceedings to enforce collections.
Section 73-16-23 - Assessment records prima facie evidence.
Section 73-16-24 - Remedy for defective assessments.
Section 73-16-25 - Ex-officio district treasurer.
Section 73-16-26 - Bond of county treasurer.
Section 73-16-27 - Duty of county treasurer to pay over tax; failure.
Section 73-16-28 - Surplus funds and annual reports.
Section 73-16-29 - Compensation of officials.
Section 73-16-30 - [Conservation and development of resources; assessments authorized.]
Section 73-16-31 - [Conservation and development fund assessment; levy; records; payment.]
Section 73-16-32 - [Conservation and development fund created; legislative finding.]
Section 73-16-33 - [Conservancy bonds; conservation and development issue.]
Section 73-16-34 - [Interest rate; sale to governmental agencies without advertisement.]
Section 73-16-35 - [Bonds tax exempt; investment of state funds.]
Section 73-16-36 - [Amount of bonds; use of proceeds; exemptions from assessment.]
Section 73-16-37 - [Application of other laws.]
Section 73-16-38 - [Bonds in serial form; maturity dates.]
Section 73-16-39 - [Bonds considered additional to other bonds; authority to issue; limitations.]
Section 73-16-40 - [Limited repeal.]
Section 73-16-41 - [Guaranty fund established in districts of 50,000 acres or more.]
Section 73-16-42 - [Tax levy for guaranty fund.]
Section 73-16-43 - [Levy and collection of tax for guaranty fund.]
Section 73-16-44 - [Disposition of guaranty fund.]
Section 73-16-45 - [Investment of guaranty fund.]
Section 73-16-46 - [Transfers from guaranty fund to other funds.]
Section 73-16-47 - [Other assessments unaffected.]
Section 73-16-48 - [Limitation on use of fund.]
Section 73-16-49 - [Application of Guaranty Fund Act.]
Section 73-16-50 - Refunding bonds; form; registration.
Section 73-16-51 - [Exchange or sale of bonds; incontestability.]
Section 73-16-52 - [Bonds tax exempt; investment of state funds.]