N.M. Stat. § 72-4-8
Current through 2024, ch. 69
No county that undertakes to acquire or establish a water supply system under the authority of Sections72-4-2 through 72-4-12 NMSA 1978 shall have the power to pay out of its general funds or otherwise contribute any part of the costs of acquiring a water supply system. The entire cost of acquiring the system shall be paid out of the proceeds from the sale of water revenue bonds issued under the authority of Sections72-4-2 through 72-4-12 NMSA 1978.
NMS § 72-4-8