2015 New Mexico Statutes
Chapter 72 - Water Law
Section 16 Albuquerque Metropolitan Arroyo Flood Control
Section 72-16-25 Sinking fund.
72-16-25. Sinking fund.
Whenever any indebtedness has been incurred by the authority, it shall be 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.
History: 1953 Comp., 75-36-25, enacted by Laws 1963, ch. 311, 25.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
