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2013 New Mexico Statutes
Chapter 16 - Parks, Recreation and Fairs
Article 2 - State Parks Division
Section 16-2-25 - Proceeds from sale of bonds. (1965)


NM Stat § 16-2-25 (2013) What's This?

16-2-25. Proceeds from sale of bonds. (1965) 
Proceeds from the sale of bonds issued under this State Park and Recreation Bond Act [16-2-20 to 16-2-29 NMSA 1978] shall be deposited in a special fund in the state treasury and used solely for the purpose for which the bonds were authorized. Purchasers of the bonds are not responsible in any way for the application of the proceeds. The cost of preparing, advertising and selling the bonds, including any necessary expense for financial and legal services, shall be paid out of the proceeds.   
  History: 1978 Comp., § 16-2-25, enacted by Laws 1965, ch. 280, § 6. 

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