It is unlawful to divert, use or expend any money received from the issuance of fire district bonds for any purpose other than the purposes for which the bonds were issued.
§ 5-7-4 NMSA 1978
Use of proceeds of bond issue
Known as the Fire District Bond Act
The act spans §§ 5–5 (7 sections).
Laws 1983, ch. 162, § 4.
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.