2009 New Mexico Statutes
Chapter 72 - Water Law.
Article 19 - Southern Sandoval County Flood Control
Section 72-19-25 - Sinking fund.
72-19-25. Sinking fund.
Whenever any indebtedness has been incurred by the authority, it is lawful for the board to levy taxes and to collect revenue for the purpose of creating a reserve fund in such amount as the board may determine, which may be used to meet the obligations of the authority, for maintenance and operating charges and depreciation, and to provide improvements for the authority.
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