There is a newer version of the New Mexico Statutes
2009 New Mexico Statutes
Chapter 73 - Special Districts.
Article 16 - Conservancy Districts; Financial Administration
Section 73-16-48 - Limitation on use of fund.
73-16-48. [Limitation on use of fund.]
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.
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