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Form a Business

Records; restriction on use of income

NMSA 1978, § 22-19-8
in effect
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22-19-8. Records; restriction on use of income A. A local school board shall retain complete and accurate records of: (1) the net income from the income project; and (2) the operating costs of the income project. B. All income from the income project shall be used solely for the following purposes: (1) to pay the principal, interest and service charges on any bonds or other special obligations issued pursuant to the School Revenue Bond Act; and (2) to pay the operating costs of the income project. 1953 Comp., § 77-16-8, enacted by Laws 1967, ch. 16, § 247.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18522/index.do#!b/22-19-8Fetched: 10/20/2026

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