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.
§ 4-62-2 NMSA 1978
Use of proceeds of bond issue
1978 Comp., § 4-62-2, enacted by Laws 1992, ch. 95, § 2.
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.