Statutes > New Mexico Statutes > Chapter 73 - Special Districts. > Article 12 - Electrical Irrigation Districts, 73-12-1 through 73-12-57. > Section 73-12-28 - Board of directors have no power to incur debt other than provided in this act.

Section 73-12-28 - Board of directors have no power to incur debt other than provided in this act.

73-12-28. Board of directors have no power to incur debt other than provided in this act.

The board of directors, or other officers of the district, shall have no power to incur any debt or liability whatever either by issuing bonds or otherwise, in excess of the express provisions of this act [73-12-1 to 73-12-57 NMSA 1978], and any debt or liability incurred in excess of such express provisions shall be and remain absolutely void.