Any resolution authorizing the issuance of securities or other instrument appertaining thereto may capitalize interest on any securities during any period of construction or other acquisition estimated by the board and one year thereafter and any other cost of any project, by providing for the payment of the amount capitalized from the proceeds of the securities.
§ 72-16-57 NMSA 1978
Capitalization of costs
Known as the Arroyo Flood Control Act
The act spans §§ 72–72 (104 sections).
1953 Comp., § 75-36-57, enacted by Laws 1963, ch. 311, § 57.
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.