All such refunding bonds may be exchanged dollar for dollar for the bonds to be refunded, or they may be sold as directed by the governing body, and the proceeds thereof shall be applied only to the purpose for which said refunding bonds were issued.
§ 6-15-15 NMSA 1978
Exchange for bonds to be refunded; sales
Laws 1927, ch. 128, § 6; C.S. 1929, § 90-1106; 1941 Comp., § 7-629; 1953 Comp., § 11-6-28; Laws 1963, ch. 234, § 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.