2020 New Mexico Statutes
Chapter 3 - Municipalities
Article 37 - Municipal Finances
Section 3-37-6 - Accepting or borrowing funds from the federal government.
Pursuant to any act of congress, a municipality may accept or borrow funds from the United States or any of its agencies or instrumentalities for any purpose authorized by the laws of this state.
History: 1953 Comp., § 14-36-6, enacted by Laws 1965, ch. 300.
ANNOTATIONSCounty receipt of wastewater system construction grants. — There are no constitutional or statutory limitations which would prevent counties from being eligible to receive wastewater system construction grants from the environmental protection agency. 1978 Op. Att'y Gen. No. 78-15.
Town borrowing from farmers home administration for water system. — Town of Hagerman may borrow money from the farmers home administration to acquire a water system; however, the note or certificate of indebtedness given to the farmers home administration must provide that it will be paid solely from the revenues produced by the water system without incurring any liability to pay the indebtedness out of the general funds of the municipality unless the voters of the municipality have approved of the indebtedness in a general or special election. 1967 Op. Att'y Gen. No. 67-84.
