There is a newer version
of
this Section
2017 New Mexico Statutes
Chapter 5 - Municipalities and Counties
Article 4 - Playgrounds and Recreational Equipment
Section 5-4-15 - Proceeds not to be divested diverted; exclusions of this act.
Universal Citation: NM Stat § 5-4-15 (2017)
5-4-15. Proceeds not to be divested [diverted]; exclusions of this act.
A. Any person diverting or expending money received from the sale of recreational revenue bonds for any purpose other than those purposes authorized in Section 5-4-10 NMSA 1978, is guilty of a misdemeanor.
B. The provisions of Sections 5-4-10 through 5-4-15, 7-12-2, 7-12-6 and 7-12-14 [repealed] NMSA 1978 do not apply to any municipality that issued bonds pursuant to the authority granted by Chapter 151 [repealed] of the Laws of 1953 until the bonds have been fully paid.
History: 1953 Comp., 6-4-14, enacted by Laws 1965, ch. 88, 5.
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
