Statutes > New Mexico Statutes > Chapter 5 - Municipalities and Counties. > Article 15 - Tax Increment for Development, 5-15-1 through 5-15-28. > Section 5-15-20.1 - Debt service reserve account.

Section 5-15-20.1 - Debt service reserve account.

5-15-20.1. Debt service reserve account.

After the retirement of all bonds issued pursuant to the tax increment development plan, any balance in a debt service reserve account established for the payment of those bonds shall be paid to the governments that have dedicated a tax increment to the district in proportion to the amount of tax increment attributable to their dedication.