Any district is authorized to borrow money without an election in anticipation of taxes or other revenues and to issue notes to evidence the amount so borrowed.
§ 72-18-45 NMSA 1978
Issuance of notes
Known as the Flood Control District Act
The act spans §§ 72–72 (72 sections).
Laws 1981, ch. 377, § 45.
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.