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 through 91 [ 72-19-89 to 72-19-91 NMSA 1978] of the Southern Sandoval County Arroyo Flood Control Act.
§ 72-19-46 NMSA 1978
Issuance of interim debentures
Known as the Southern Sandoval County Arroyo Flood Control Act
The act spans §§ 72–72 (103 sections).
Laws 1990, ch. 14, § 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.