Statutes > New Mexico Statutes > Chapter 3 - Municipalities. > Article 34 - Street Improvement Fund, 3-34-1 through 3-34-5. > Section 3-34-1 - Street improvement fund authorization.

Section 3-34-1 - Street improvement fund authorization.

3-34-1. Street improvement fund authorization.

The governing body of any municipality may, by ordinance, establish a "street improvement fund" into which may be placed all or any part of the distributions of the amounts of tax revenues distributed to the municipality under the provisions of Section 7-1-6.9 NMSA 1978 as the governing body has, in any ordinance, determined necessary for use as a fund in the financing of street improvement projects within the municipality.