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Proceeds not to be divested [diverted]; exclusions of this act

NMSA 1978, § 5-4-15
in effect
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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 B. The provisions of Sections 5-4-10 through 5-4-15, 7-12-2, 7-12-6 and 7-12-14 [repealed] NMSA 1978 do not apply to any municipality that issued bonds pursuant to the authority granted by Chapter 151 [repealed] of the Laws of 1953 until the bonds have been fully paid. 1953 Comp., § 6-4-14, enacted by Laws 1965, ch. 88, § 5.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18447/index.do#!b/5-4-15Fetched: 10/20/2026

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