The authority is authorized to borrow money and to issue interim debentures evidencing "construction" or short-term loans for the acquisition or improvement and equipment of the flood control system or any project in supplementation of long term financing and the issuance of bonds, as provided in Sections 89, 90 and 91 [ 72-17-89, 72-17-90, 72-17-91 NMSA 1978] hereof.
§ 72-17-46 NMSA 1978
Issuance of interim debentures
Known as the Las Cruces Arroyo Flood Control Act
The act spans §§ 72–72 (103 sections).
1953 Comp., § 75-38-46, enacted by Laws 1967, ch. 156, § 46.
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.