It is unlawful to divert, use or expend any money received from the issuance of revenue bonds for any purpose other than the purpose for which the revenue bonds were issued.
History: Laws 2010, ch. 39, § 10.
Effective dates. — Laws 2010, ch. 39, § 21 made the Eastern New Mexico Water Utility Authority Act effective July 1, 2010.
Structure New Mexico Statutes
Chapter 73 - Special Districts
Article 27 - Eastern New Mexico Water Utility Authority
Section 73-27-1 - Short title.
Section 73-27-2 - Findings and purpose.
Section 73-27-3 - Definitions.
Section 73-27-4 - Eastern New Mexico water utility authority; created.
Section 73-27-5 - Board; appointment; terms.
Section 73-27-6 - Board; powers; duties.
Section 73-27-7 - Authority; powers.
Section 73-27-10 - Use of proceeds of revenue bond issue.
Section 73-27-11 - Revenue bonds; terms.
Section 73-27-12 - Exemption from taxation.
Section 73-27-13 - Resolution authorizing revenue bonds.
Section 73-27-14 - Revenue bonds not general obligations; authentication.
Section 73-27-16 - Bonds; refunding authorization.
Section 73-27-17 - Refunding bonds; terms.
Section 73-27-18 - Refunding bonds; escrow.
Section 73-27-19 - Public regulation commission and state engineer jurisdiction.