Statutes > New Mexico Statutes > Chapter 73 - Special Districts. > Article 21 - Water and Sanitation Districts, 73-21-1 through 73-21-55. > Section 73-21-53 - Use of bond proceeds restricted.

Section 73-21-53 - Use of bond proceeds restricted.

73-21-53. Use of bond proceeds restricted.

Proceeds from any bonds issued pursuant to the provisions of the Water and Sanitation District Act shall not be used by the board on any project constructed in fulfillment or partial fulfillment of requirements made of a subdivider by the provisions of the Land Subdivision Act [47-5-1 NMSA 1978] or the New Mexico Subdivision Act [47-6-1 NMSA 1978].