There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 3: Municipalities
Article 34: Street Improvement Fund, 3-34-1 through 3-34-5
Section 3-34-4: Street improvement fund; diverting proceeds from tax.
Universal Citation:
NM Stat § 3-34-4 (1996 through 1st Sess 50th Legis)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
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3-34-4. Street improvement fund; diverting proceeds from tax.
After the adoption of the ordinance creating a contract as authorized in Section 3-34-3 NMSA 1978, and so long as the contract is effective, it is unlawful:
A. to, directly or indirectly, divert any such amounts of tax revenue directed to be credited to the street improvement fund; and
B. without the written approval of the secretary of finance and administration, for the governing body or any municipal employee to expend any money from the street improvement fund for any purpose other than the performance of the contract.
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