Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 20C - Local Hospital Gross Receipts Tax, 7-20C-1 through 7-20C-17. > Section 7-20C-14 - Use of proceeds of bond issue.

Section 7-20C-14 - Use of proceeds of bond issue.

7-20C-14. Use of proceeds of bond issue.

It is unlawful to divert, use or expend any money received from the issuance of local hospital revenue bonds for any purpose other than the purpose for which the bonds were issued.