No revenues collected from the ad valorem tax authorized herein shall be used for the payment of any interest or principal on bonds hereafter sold under any option existing at the time of the passage of this act [ 73-16-41 to 73-16-49 NMSA 1978] for the purchase of bonds of any conservancy district.
§ 73-16-48 NMSA 1978
[Limitation on use of fund.]
Laws 1931, ch. 50, § 8; 1941 Comp., § 77-2947; 1953 Comp., § 75-30-47.
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.