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.
§ 4-48B-19 NMSA 1978
Use of proceeds of bond issue
Known as the Hospital Funding Act
The act spans §§ 4–4 (29 sections).
1978 Comp., § 4-48B-19, enacted by Laws 1981, ch. 83, § 19.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.