Notes and warrants may mature at such time or times not exceeding one year from the respective dates of their issuance as the board may determine. They shall not be extended or funded except by the issuance of bonds or interim debentures in compliance with Section 48 or 49 [ 72-18-48 or 72-18-49 NMSA 1978] of the Flood Control District Act.
§ 72-18-47 NMSA 1978
Maturities of notes and warrants
Known as the Flood Control District Act
The act spans §§ 72–72 (72 sections).
Laws 1981, ch. 377, § 47.
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.