The board of directors, or other officers of the district, shall have no power to incur any debt or liability whatever either by issuing bonds or otherwise, in excess of the express provisions of this act [ 73-12-1 to 73-12-57 NMSA 1978], and any debt or liability incurred in excess of such express provisions shall be and remain absolutely void.
§ 73-12-28 NMSA 1978
Board of directors have no power to incur debt other than provided in this act
Laws 1929, ch. 76, § 28; C.S. 1929, § 73-728; 1941 Comp., § 77-2428; 1953 Comp., § 75-25-28.
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.